729 Thimble Shoals Blvd, Newport News, VA
1,496 SF office building in Newport News, Virginia.
- Added:
- Aug 16, 2024
- Days on Market:
- 672
- Last Refresh:
- May 19 at 8:46 pm
Property Features for 729 Thimble Shoals Blvd
General Information
- Standard status
- Active
- Size
- 1,496 SF
- Lot size
- 0.17 Acres
- Property subtype
- OFFICE
Listing agent Teresa Nettles (757) 873-0323
Listing office Cushman & Wakefield | Thalhimer - Virginia Beach (757) 873-0323
Listing date Aug 16, 2024
Source Moodyscre
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 Cushman & Wakefield | Thalhimer - Virginia Beach
HighLights
- Leased through 3/31/2030 by a financial firm, providing immediate and consistent income.
- Located in an Opportunity Zone, offering potential tax benefits.
- Building size of 1,496 sf, suitable for various business operations.
- C4 Zoning, allowing for a wide range of commercial uses.
- HVAC: Equipped with a 5‑ton oversized unit with a relatively new compressor (2015).
- Site area of 0.16 acres, providing adequate space.
Overview
Local 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 | $26.0k | $17.40 |
| − Vacancy | −$3.9k | −$2.61 |
| EGI | $22.1k | $14.79 |
| − OpEx | −$5.5k | −$3.70 |
| NOI | $16.6k | $11.09 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Newport News
- State
- Virginia
- Longitude
- -76.4685
- Latitude
- 37.0849
