Freestanding Office Building with
For Sale
Contact for pricing
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 Market52
Property Features for 736 Thimble Shoals Blvd
General Information
Standard status
Active
Size
5,075 SF
Total Parking Spaces
53
Lot size
1.00 Acre
Property subtype
Office
Zoning
C4
Occupancy
50%
Investment Type
Owner/User
Building Details
Year Built
1982
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
S.L. Nusbaum Realty Co
(757) 640-2412
Listed By:
Anthony Grecco · License #0225264786
Source:
Crexi
Added: Jul 12
Changed: Aug 25
Last Checked: Sep 1 at 12:38AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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
