Medical Office Near
For Sale
Contact for pricing
716 Denbigh Blvd, Newport News, VA
Leased medical office building near hospital with strong demographics.
Property Size6,344 SF
Lot Size0.56 Acres
Price / SF$236.76
Days on Market616
Property Features for 716 Denbigh Blvd
General Information
Standard status
Active
Size
6,344 SF
Lot size
0.56 Acres
Property subtype
OFFICE
Site & Location
Neighborhood
Windsor Great Park
Listing Agency:
Marcus & Millichap | Phoenix
(602) 687-6700
Listed By:
Sean Lenchner
(630) 641-9220
Source:
Moodyscre
Added: Feb 26, 2025
Changed: Oct 25
Last Checked: Nov 3 at 9:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Phoenix
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,344 square foot medical office is located within the Denbigh Medical Center Office Complex, adjacent to Bon Secours Mary Immaculate Hospital, which has over 120 beds. The property benefits from its proximity to Charter Senior Living of Newport News and Warwick Forest Retirement Community. It is easily accessible via Denbigh Boulevard, which sees 24,000 cars per day. The surrounding Newport News trade area has a growing population, with 147,121 residents within a 5-mile radius. The average household income in the surrounding area exceeds $87,000. The property has over 4 years remaining on the lease, with 3% annual rent increases and multiple renewal options.
Key Highlights
- Strong Lease Term: Benefit from over 4 years remaining on the lease, featuring 3% annual rent increases and multiple renewal options.
- High Traffic Location: Easily accessible via Denbigh Boulevard, with 24,000 cars per day.
- Dense Residential Population: Located within a growing trade area with 147,121 residents within a 5‑mile radius.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,371
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,407,420
$1.4M
Cap Rate 7%
$1,005,300
$1.0M
Cap Rate 9%
$781,900
$781.9K
Market Conditions
NOI Build-Up for 6,344 SF
Gross rent
$110.4K $17.40/SF
− Vacancy
−$16.6K −$2.61/SF
EGI
$93.8K $14.79/SF
− OpEx
−$23.5K −$3.70/SF
NOI
$70.4K $11.09/SF
Area
Newport News, VA
Vacancy
15.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,407,420
Cap Rate 7%
$1,005,300
Cap Rate 9%
$781,900
Alternative Uses
Best Use
Office B
$1.01M
$879.6K – $1.17M
NOI $70,371 @ 7.0% cap · market cap 4.69%
Second Best
Healthcare Medical
$955.3K
$835.9K – $1.11M
NOI $66,871 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,313 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Leased medical office building near hospital with strong demographics.
Where is this medical office space located?
The property is located at 716 Denbigh Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $1,502,000.
What are key features of this property?
This property features: Strong Lease Term: Benefit from over 4 years remaining on the lease, featuring 3% annual rent increases and multiple renewal options.; High Traffic Location: Easily accessible via Denbigh Boulevard, with 24,000 cars per day.; Dense Residential Population: Located within a growing trade area with 147,121 residents within a 5‑mile radius.
