Freestanding Office Building with
For Sale
$799,000
736 Thimble Shoals Blvd, Newport News, VA 23606
Freestanding office building with private ground-floor access on a signalized hard-corner intersection.
Property Size5,075 SF
Lot Size1.00 Acre
Price / SF$157.44
Days on Market95
Property Features for 736 Thimble Shoals Blvd
General Information
Standard status
Active
Size
5,075 SF
Class
B
Lot size
1.00 Acre
Property subtype
Office
Building Details
Building Size
5,075 SF
Year Built
1982
Listing Agency:
S.L. Nusbaum Realty Co - Corporate
Listed By:
Anthony Grecco · License #0225264786
(757) 235-1496
Source:
Slnusbaum
Added: Jul 15
Changed: Oct 12
Last Checked: Oct 16 at 5:58AM
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 S.L. Nusbaum Realty Co - Corporate
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Investment Insights
Based on property information with market context.
736 Thimble Shoals Blvd is a freestanding office building designed with private, ground-floor access. The property includes a single building totaling 5,075 SF and sits on approximately one acre.
The site is located at a signalized, hard-corner intersection, positioned to provide strong street-level visibility. The building is described as centrally located with abundant parking and proximity to major transportation corridors, regional employers, and retail amenities.
This offering is presented for sale as an office property suitable for an owner-user seeking a dedicated workplace configuration within a prominent business district setting.
The site is located at a signalized, hard-corner intersection, positioned to provide strong street-level visibility. The building is described as centrally located with abundant parking and proximity to major transportation corridors, regional employers, and retail amenities.
This offering is presented for sale as an office property suitable for an owner-user seeking a dedicated workplace configuration within a prominent business district setting.
Key Highlights
- Freestanding office building built in 1982 with private, ground‑floor access
- Approximately 5,075 SF office building
- Situated on about one acre at a signalized hard‑corner intersection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,294
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,125,880
$1.1M
Cap Rate 7%
$804,200
$804.2K
Cap Rate 9%
$625,489
$625.5K
Market Conditions
NOI Build-Up for 5,075 SF
Gross rent
$88.3K $17.40/SF
− Vacancy
−$13.2K −$2.61/SF
EGI
$75.1K $14.79/SF
− OpEx
−$18.8K −$3.70/SF
NOI
$56.3K $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%
$1,125,880
Cap Rate 7%
$804,200
Cap Rate 9%
$625,489
Alternative Uses
Best Use
Office B
$804.2K
$703.7K – $938.2K
NOI $56,294 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$943.1K – $1.26M
NOI $75,448 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 23606, VA
31,684
Population
13,186
Households
2.4
Avg Household Size
33
Median Age
38%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
3,266
Density / Sq Mi
$69,921
Median Household Income
$38,647
Median Earnings
$1,327
Median Rent
$296,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with private ground-floor access on a signalized hard-corner intersection.
Where is this office building located?
The property is located at 736 Thimble Shoals Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Freestanding office building built in 1982 with private, ground‑floor access; Approximately 5,075 SF office building; Situated on about one acre at a signalized hard‑corner intersection
