Two-Story Office
9302 Warwick Boulevard, Newport News, VA 23601
For Sale
$1,850,000
Commercial/Industrial, Newport News, VA
Property Size12,832 SF
Lot Size2.04 Acres
Price / SF$144.17
Days on Market244
Property Features for 9302 Warwick Boulevard
General Information
Property type
Property subtype
Zoning
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Cooling system
Building Details
Year built
Buildings
Listing Agency:
Garrett Realty Partners
Listed By:
Chuck Dunlap
(757) 873-1002
Added: Mar 12
Changed: Nov 5
Last Checked: Nov 10 at 5:06PM
MLS# 10624895
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.
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Investment Insights
Based on property information with market context.
The two-story office building contains 12,832 square feet and dates to 1950. Its interior is arranged with offices, classrooms, and meeting spaces. Cooling includes central air and wall/window units. The property is being sold as-is, where-is.
The building sits on a 2.04-acre parcel in Newport News, Virginia, and is zoned O1.
The building sits on a 2.04-acre parcel in Newport News, Virginia, and is zoned O1.
Key Highlights
- 12,832‑square‑foot office building on 2.04 acres
- Two‑story building constructed in 1950
- Interior includes offices, classrooms, and meeting spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,339
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,846,780
$2.8M
Cap Rate 7%
$2,033,414
$2.0M
Cap Rate 9%
$1,581,544
$1.6M
Market Conditions
NOI Build-Up for 12,832 SF
Gross rent
$223.3K $17.40/SF
− Vacancy
−$33.5K −$2.61/SF
EGI
$189.8K $14.79/SF
− OpEx
−$47.4K −$3.70/SF
NOI
$142.3K $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 Rate 5%
$2,846,780
Cap Rate 7%
$2,033,414
Cap Rate 9%
$1,581,544
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,339 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.38M – $3.18M
NOI $190,768 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
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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
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Market
Properties on Market for Office buildings in Newport News
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - O1-zoned property contains a mix of offices, classrooms, and meeting areas.
Where is this office building located?
The property is located at 9302 Warwick Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 12,832‑square‑foot office building on 2.04 acres; Two‑story building constructed in 1950; Interior includes offices, classrooms, and meeting spaces
