Flex Space with C2
For Sale
$395,000
7826 Warwick Boulevard, Newport News, VA 23607
Commercial/Industrial, Newport News, VA
Property Size3,140 SF
Lot Size0.14 Acres
Price / SF$125.80
Days on Market629
Property Features for 7826 Warwick Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
ALL OTHERS AREA 106
Standard status
Active
Size
3,140 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1262
Listing Agency:
RE/MAX Connect · RE/MAX International
(757) 525-3639
Listed By:
Carlyn Menser · License #0225104023
(757) 525-3639
Added: Dec 9, 2024
Changed: Aug 27
Last Checked: Aug 30 at 2:06AM
MLS# 10562795
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space includes a 3,140-square-foot commercial building on a 0.14-acre parcel. The property previously housed a custom fiberglass business and offers a configuration suited to operational, storage, or customization needs. C2 zoning supports its commercial positioning, while the existing building provides a foundation for a range of business activities related to the prior specialty use.
The property is located on Warwick Boulevard in Newport News, Virginia. Its placement along the boulevard provides direct street presence and access within the Newport News market. The combination of an established commercial building, C2 zoning, and a prior fabrication-oriented use creates a practical option for an owner or operator seeking flex-oriented space.
The property is located on Warwick Boulevard in Newport News, Virginia. Its placement along the boulevard provides direct street presence and access within the Newport News market. The combination of an established commercial building, C2 zoning, and a prior fabrication-oriented use creates a practical option for an owner or operator seeking flex-oriented space.
Key Highlights
- 3,140‑square‑foot commercial building
- 0.14‑acre parcel
- C2 zoning
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
$20,716
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
5.24%
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%
$414,320
$414.3K
Cap Rate 7%
$295,943
$295.9K
Cap Rate 9%
$230,178
$230.2K
Market Conditions
NOI Build-Up for 3,140 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
$32.0K $10.20/SF
− Vacancy
−$2.4K −$0.78/SF
EGI
$29.6K $9.42/SF
− OpEx
−$8.9K −$2.83/SF
NOI
$20.7K $6.60/SF
Area
Newport News, VA
Vacancy
7.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$414,320
Cap Rate 7%
$295,943
Cap Rate 9%
$230,178
Alternative Uses
Best Use
Industrial
$295.9K
$259.0K – $345.3K
NOI $20,716 @ 7.0% cap · market cap 5.24%
Second Best
Flex RnD
$274.8K
$240.5K – $320.6K
NOI $19,236 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$666.9K
$583.5K – $778.0K
NOI $46,681 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23607, VA
23,498
Population
10,764
Households
2.2
Avg Household Size
33
Median Age
14%
College-Educated
85%
High-School Grad
6.0 sq mi
ZIP Area
3,916
Density / Sq Mi
$42,904
Median Household Income
$33,746
Median Earnings
$1,104
Median Rent
$146,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building along Warwick Boulevard with prior specialty fabrication use and space for operations, storage, or customization.
Where is this flex space located?
The property is located at 7826 Warwick Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,140‑square‑foot commercial building; 0.14‑acre parcel; C2 zoning
