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    12122 Jefferson Ave Newport News, VA 23602

    For Lease
    Contact for pricing

    Prime Restaurant Space, High Traffic Area

    Lot size:
    7,140 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 7,140 square foot free-standing restaurant building presents a unique investment opportunity in Newport News, Virginia. Located at 12122 Jefferson Avenue, this single-tenant property boasts 250 feet of frontage on a high-traffic thoroughfare with an average annual daily traffic count exceeding 51,000 vehicles. Situated on a 1.42-acre outparcel within Yoder Plaza, a premier power center, the property benefits from exceptional visibility and proximity to major retailers. The location's strategic placement directly across from a Costco, which attracts over 2 million annual visitors, and adjacent to Virginia's top-performing Target store (drawing 2.2 million annual visitors), ensures consistent high foot traffic and significant brand exposure. The building's substantial size and prime location make it ideal for a variety of restaurant concepts or potential redevelopment. This is a rare opportunity to acquire a well-positioned property in a thriving retail environment with significant growth potential. The property's address is 12122 Jefferson Ave, Newport News, VA 23602. The property is zoned for commercial use.

    Property Features for 12122 Jefferson Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,140 SF

    Unit(s) available at that property

    Space
    Size
    0 SF

    HighLights

    • Immediate Occupancy Available
    • 7,140 SF building on a 1.42‑acre lot (two parcels: 0.68 acres and 0.74 acres)
    • Rental Rate: Price Negotiable
    • Tenant responsible for CAM; Taxes and Insurance will be billed back to tenant (2025 taxes: $20,875.38)
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    TGI Fridays Restaurant Yoder Farms Shopping ... Farm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.4945293
    Latitude
    37.1069362

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    FAQs

    What type of property is this?
    Restaurant - Prime Restaurant Space, High Traffic Area
    Where is this restaurant located?
    The property is located at 12122 Jefferson Ave Newport News, VA.
    What are key features of this property?
    This property features: Immediate Occupancy Available; 7,140 SF building on a 1.42-acre lot (two parcels: 0.68 acres and 0.74 acres); Rental Rate: Price Negotiable
    Request Owner's contact information
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    Newport News, VA 23602
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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
    12122 Jefferson Ave Newport News, VA 23602
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