Medical Office Space in
For Sale
Contact for pricing
716 Denbigh Blvd, Newport News, VA 23608
Medical office space within a medical office complex, next door to a large hospital under an existing lease.
Property Size6,344 SF
Price / SF$236.76
Days on Market117
Property Features for 716 Denbigh Blvd
General Information
Standard status
Active
Size
6,344 SF
Property subtype
OFFICE
Listing Agency:
Marcus & Millichap | Phoenix
(630) 641-9220
Listed By:
Sean Lenchner · License #SA550593000
(630) 641-9220
Source:
Moodyscre
Added: Apr 7
Changed: Jul 27
Last Checked: Jul 31 at 10:16AM
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
Investment Insights
Based on property information with market context.
This medical office space is offered for sale within a medical office complex. The existing lease has approximately three years remaining, with stated annual increases of 3%.
The space is located next door to a large hospital, supporting an owner-occupied or investor interest in a healthcare-adjacent setting within the same complex.
The offering is for the available medical office space as part of the overall complex, with the key lease terms noted in the remarks.
The space is located next door to a large hospital, supporting an owner-occupied or investor interest in a healthcare-adjacent setting within the same complex.
The offering is for the available medical office space as part of the overall complex, with the key lease terms noted in the remarks.
Key Highlights
- 3 years remaining on the existing lease
- 3% annual lease increases
- Medical office space in a medical office complex, next door to a large hospital
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.4k | $17.40 |
| − Vacancy | −$16.6k | −$2.61 |
| EGI | $93.8k | $14.79 |
| − OpEx | −$23.5k | −$3.70 |
| NOI | $70.4k | $11.09 |
6,344 SF · lease $17.40/SF/yr · vacancy 15.00% · expense 25.00%
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23608, VA
43,943
Population
18,448
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
90%
High-School Grad
10.7 sq mi
ZIP Area
4,107
Density / Sq Mi
$67,556
Median Household Income
$40,208
Median Earnings
$1,245
Median Rent
$243,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space within a medical office complex, next door to a large hospital under an existing lease.
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: 3 years remaining on the existing lease; 3% annual lease increases; Medical office space in a medical office complex, next door to a large hospital
