12170 Jefferson AveNewport News, VA 23602

This exceptional investment opportunity presents a freestanding, 24,860-square-foot Barnes & Noble bookstore situated on approximately 2.14 acres of land in Newport News, Virginia. The property boasts a prime location on Jefferson Avenue, a high-traffic thoroughfare with 53,435 vehicles passing daily, offering 281 feet of prominent frontage. The building, constructed in 1997 and renovated in 2024, features a new roof and ample parking with 176 spaces, providing a 7.55:1000 parking ratio. Currently operating under a 10-year triple-net (NNN) lease with a corporate guarantee from Barnes & Noble, expiring January 31, 2035, this stabilized investment offers a compelling 7.00% cap rate and a projected Year 1 NOI of $389,746. The property is zoned C1-Commercial, reflecting its suitability for retail use. This single-tenant, fee-simple ownership opportunity provides a secure, long-term investment with significant upside potential. The property's strong tenant, prime location, and substantial remaining lease term make it an attractive addition to any portfolio. The asking price is $5,600,000, translating to a price per square foot of $225.26. The property's features include a Class A designation and a single-story building.