Newport News Income-Producing Office
For Sale
Contact for pricing
760 McGuire Pl, Newport News, VA 23601
Versatile office building in central Newport News with income potential.
Property Size5,230 SF
Price / SF$150.10
Days on Market342
Property Features for 760 McGuire Pl
General Information
Standard status
Active
Size
5,230 SF
Property subtype
Office
Zoning
O1
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1985
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Re/Max Connect
(757) 879-9759
Listed By:
Carlyn Menser · License #VA 0225104023
Source:
Crexi
Added: Sep 5, 2025
Changed: Aug 8
Last Checked: Aug 12 at 6:41AM
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 Re/Max Connect
Investment Insights
Based on property information with market context.
This office building is centrally located in Newport News. The property features two professional office suites, with one unit currently owner-occupied and one unit leased. There is also a third income-producing unit being leased. The property offers visibility and accessibility in a location close to business corridors, shopping, dining, and transportation routes. It provides flexible space for professional uses while offering rental income. This property is suitable for a business seeking to occupy space while generating revenue, or for an investor looking to add an asset to their portfolio. The property size is 5230 square feet.
Key Highlights
- Income‑producing property with two existing leases
- Prime central location in Newport News with excellent visibility and accessibility
- Versatile office building suitable for investors or owner‑occupants
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
$58,014
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
7.39%
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%
$1,160,280
$1.2M
Cap Rate 7%
$828,771
$828.8K
Cap Rate 9%
$644,600
$644.6K
Market Conditions
NOI Build-Up for 5,230 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
$91.0K $17.40/SF
− Vacancy
−$13.7K −$2.61/SF
EGI
$77.4K $14.79/SF
− OpEx
−$19.3K −$3.70/SF
NOI
$58.0K $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%
$1,160,280
Cap Rate 7%
$828,771
Cap Rate 9%
$644,600
Alternative Uses
Best Use
Office B
$828.8K
$725.2K – $966.9K
NOI $58,014 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$971.9K – $1.30M
NOI $77,752 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 23601, VA
25,729
Population
12,593
Households
2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,477
Density / Sq Mi
$71,345
Median Household Income
$48,310
Median Earnings
$1,231
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Versatile office building in central Newport News with income potential.
Where is this office building located?
The property is located at 760 McGuire Pl Newport News, VA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Income‑producing property with two existing leases; Prime central location in Newport News with excellent visibility and accessibility; Versatile office building suitable for investors or owner‑occupants
