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    12580 Jefferson Ave Newport News, VA 23602

    Sponsored
    For Lease
    $40 SF/Yr

    7,078 SF Restaurant Building, 1.67 Acres

    Lot size:
    7,078 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 7,078-square-foot former restaurant building presents a unique opportunity in Newport News, Virginia's desirable Patrick Henry submarket. Situated on a spacious 1.67-acre lot at 12580 Jefferson Avenue, zip code 23602, this Class A property boasts a single-tenant occupancy and is currently vacant, offering immediate possession. Built in 2003, the building features a single story design and a substantial 1000-amp power supply, making it adaptable to a variety of uses. The M-1 zoning allows for flexibility in potential redevelopment or repurposing. The property's location within a highly desirable retail corridor ensures high visibility and accessibility. Property taxes are $4.71 per square foot. This prime location offers significant potential for a savvy investor or business owner seeking a well-positioned space in a thriving market. The building's size and ample land provide considerable room for expansion or outdoor amenities. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. Detailed property information and specifications are available upon request.

    Property Features for 12580 Jefferson Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,078 SF
    Class
    A
    Total Rate
    24165.47

    Building Details

    Year Built
    2003
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    7,078 SF
    Rate per SF
    $40

    HighLights

    • High‑visibility retail space at Jefferson Ave & Jefferson Commons Shopping Center in Newport News, VA's Patrick Henry submarket.
    • Excellent accessibility from Jefferson Ave, a top 3 Hampton Roads retail market and prime Peninsula location.
    • Strong co‑tenancy with Tech Center, Patrick Henry Mall, and Jefferson Commons.
    • Strategic location: first restaurant site on northbound Jefferson Ave after I‑64 exit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

    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
    -76.513973388671
    Latitude
    37.131032683061

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    FAQs

    What type of property is this?
    Restaurant - 7,078 SF Restaurant Building, 1.67 Acres
    Where is this restaurant located?
    The property is located at 12580 Jefferson Ave Newport News, VA.
    What is the lease rate?
    The lease rate is $40 SF/Yr.
    What are key features of this property?
    This property features: High-visibility retail space at Jefferson Ave & Jefferson Commons Shopping Center in Newport News, VA's Patrick Henry submarket.; Excellent accessibility from Jefferson Ave, a top 3 Hampton Roads retail market and prime Peninsula location.; Strong co-tenancy with Tech Center, Patrick Henry Mall, and Jefferson Commons.
    Request Owner's contact information
    12580 Jefferson Ave Newport News, VA 23602
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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
    12580 Jefferson Ave Newport News, VA 23602
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