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    1020 Loftis Blvd Newport News, VA 23606

    Sponsored
    For Sale
    $795,000

    0.79-acre lot, C1 zoning, high visibility.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.79-acre commercial land parcel presents a prime development opportunity in Newport News, Virginia. Located at 1020 Loftis Blvd, this property boasts a highly desirable C1 zoning designation, offering flexibility for a variety of commercial uses. Its strategic location at the entrance to the award-winning Port Warwick community ensures high visibility and accessibility. Port Warwick itself is a thriving mixed-use development featuring a blend of retail, medical, office spaces, townhomes, and apartments centered around a three-acre green space. The site is ideally suited for medical, office, or retail development and can accommodate a substantial two-story building of up to 10,000 square feet. Adding to its appeal, the property enjoys a highly convenient location directly across the street from the Sentara Port Warwick Medical Campus, enhancing its potential for medical-related businesses. Furthermore, its proximity to City Center @ Oyster Point (less than half a mile) and Interstate 64 (less than two miles) provides excellent access to major transportation arteries and a wide range of amenities. The asking price for this exceptional property is $795,000. Don't miss this chance to acquire a premier commercial site in a flourishing community.

    Property Features for 1020 Loftis Blvd

    General Information

    Property type
    Land
    Lot Size
    34,412 SF

    HighLights

    • 0.79‑acre commercial lot ideal for medical, office, or retail development.
    • 10,000 square foot, two‑story building potential.
    • Across the street from Sentara Port Warwick Medical Campus.
    • Less than half a mile from City Center @ Oyster Point and under two miles from I‑64.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News
    State
    Virginia
    Longitude
    -76.48456
    Latitude
    37.085615

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    FAQs

    What type of property is this?
    Land - 0.79-acre lot, C1 zoning, high visibility.
    Where is this land located?
    The property is located at 1020 Loftis Blvd Newport News, VA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: 0.79-acre commercial lot ideal for medical, office, or retail development.; 10,000 square foot, two-story building potential.; Across the street from Sentara Port Warwick Medical Campus.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1020 Loftis Blvd Newport News, VA 23606
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