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    950 Omni Blvd Newport News, VA 23602

    Sponsored
    For Sale
    $800,000

    5.06 Acres, C-4 Zoning, I-64 Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 5.06-acre commercial land parcel presents a unique investment opportunity in Newport News, Virginia. Located at 950 Omni Boulevard, this property boasts a highly desirable C-4 (Hotel) zoning designation, making it ideally suited for hotel development. Its strategic location within the Oyster Point Industrial/Office Park, adjacent to the Magnuson Hotel (formerly the Omni Hotel), places it at the heart of the Peninsula's premier business community. The site offers unparalleled visibility from Interstate 64 and the J Clyde Morris Boulevard exit, ensuring high traffic exposure and brand recognition. The surrounding area is a thriving regional corridor, featuring numerous shopping centers, a mall, over two million square feet of office space, multiple hotels, and a concentration of banking, legal, and research facilities. The property also includes the potential for a pylon sign, further enhancing its marketing capabilities. This is a rare chance to acquire a significant land holding in a prime location with exceptional development potential. The asking price is $800,000. The address is 950 Omni Boulevard, Newport News, VA 23602.

    Property Features for 950 Omni Blvd

    General Information

    Property type
    Land
    Lot Size
    220,414 SF

    HighLights

    • 5.06‑acre parcel in Newport News, VA.
    • Pylon sign potential.
    • C‑4 (Hotel) zoning.
    • High visibility from I‑64 and J Clyde Morris Blvd.
    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
    Newport News
    State
    Virginia
    Longitude
    -76.5372625
    Latitude
    37.1120848

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    FAQs

    What type of property is this?
    Land - 5.06 Acres, C-4 Zoning, I-64 Visibility
    Where is this land located?
    The property is located at 950 Omni Blvd Newport News, VA.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: 5.06-acre parcel in Newport News, VA.; Pylon sign potential.; C-4 (Hotel) zoning.
    (757) 333-4382
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    950 Omni Blvd 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
    950 Omni Blvd Newport News, VA 23602
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