62-Key
New
For Sale
$3,100,000
945 J Clyde Morris Blvd, Newport News, VA 23601
The three-story lodging property has surface parking and access to I-64 and Newport News/Williamsburg International Airport.
Property Size40,000 SF
Lot Size1.40 Acres
Price / SF$77.50
Days on Market2
Property Features for 945 J Clyde Morris Blvd
General Information
Standard status
Active
Size
40,000 SF
Total Parking Spaces
65
Lot size
1.40 Acres
Property subtype
Hospitality
Additional Details
Highway Access
Yes
Building Details
Building Size
40,000 SF
Year Built
1987
Buildings
1
Stories
3
Listing Agency:
S.L. Nusbaum Realty Co - Corporate
Listed By:
Sam Rapoport · License #0225220339
(757) 640-5438
Source:
Slnusbaum
Added: Oct 24
Last Checked: Oct 24 at 2:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of S.L. Nusbaum Realty Co - Corporate
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Investment Insights
Based on property information with market context.
This 62-key hotel comprises approximately 40,000 SF across three stories on ±1.40 acres. Built in 1987, the property was operated as City Center Inn and includes 65 surface parking spaces. Occupancy is available December 1, 2026.
The property is on J Clyde Morris Boulevard in Newport News, with access to I-64 and Newport News/Williamsburg International Airport.
The property is on J Clyde Morris Boulevard in Newport News, with access to I-64 and Newport News/Williamsburg International Airport.
Key Highlights
- 62‑key hotel on ±1.40 acres
- Approximately 40,000 SF across three stories
- 65 surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,704
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,414,080
$4.4M
Cap Rate 7%
$3,152,914
$3.2M
Cap Rate 9%
$2,452,267
$2.5M
Market Conditions
NOI Build-Up for 40,000 SF
Gross rent
$528.0K $13.20/SF
− Vacancy
−$63.4K −$1.58/SF
EGI
$464.6K $11.62/SF
− OpEx
−$243.9K −$6.10/SF
NOI
$220.7K $5.52/SF
Area
Newport News, VA
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,414,080
Cap Rate 7%
$3,152,914
Cap Rate 9%
$2,452,267
Alternative Uses
Best Use
Hotel Hospitality
$3.15M
$2.76M – $3.68M
NOI $220,704 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.50M
$7.43M – $9.91M
NOI $594,662 @ 7.0% cap · market cap 19.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Hotel - The three-story lodging property has surface parking and access to I-64 and Newport News/Williamsburg International Airport.
Where is this hotel located?
The property is located at 945 J Clyde Morris Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 62‑key hotel on ±1.40 acres; Approximately 40,000 SF across three stories; 65 surface parking spaces
