Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    10614 Jefferson Ave Newport News, VA 23601

    Sponsored
    For Sale
    Contact for pricing

    High-traffic 2.59-acre commercial site in Newport News, VA.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 2.59-acre commercial property is situated on a signalized corner of heavily trafficked Jefferson Avenue in Newport News, Virginia, boasting an impressive 45,000 vehicles per day traffic count. The site offers 400 feet of frontage on Jefferson Avenue and includes two curb cuts, providing excellent accessibility. Zoned C-1, this location permits a wide range of commercial uses by right, including retail, office, medical, educational facilities, and hotel/motel development. Numerous additional uses are also possible with a conditional use permit, offering significant flexibility for redevelopment projects. This prime location presents a remarkable opportunity for investors seeking a high-visibility site with substantial development potential. The property is available for sale or ground lease, making it an attractive option for various investment strategies. The significant traffic volume, prominent location, and flexible zoning regulations combine to create a compelling investment opportunity in a thriving Virginia market. This is an ideal site for a variety of commercial ventures, capitalizing on the high daily traffic count and excellent visibility.

    Property Features for 10614 Jefferson Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    112,820 SF

    We can help!

    Listing Contact
    Doug Aronson
    Doug Aronson

    Learn more

    Property Insight Report

    HighLights

    • 2.59‑acre site
    • 45,000 daily traffic count
    • Signalized intersection access
    • 400 feet of frontage on Jefferson Avenue
    • Two curb cuts available
    • Excellent redevelopment opportunity
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

    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
    -76.460291124635
    Latitude
    37.050184043594

    Nearby Similar for Sale

    • $3,975,000
      17,840 SF

      Newport News Medical Office Building

      17,840 sq ft medical office building for sale.
      401 Oyster Point Rd, Newport News, VA 23602
      View Details
    • $275,000
      1,937 SF

      Professional Office Condo For Sale

      Professional office condo with two sub-units near City Center.
      732 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • $4,500,000
      8,000 SF

      Newport News Redevelopment Opportunity

      C-1 zoned property with redevelopment potential in Newport News.
      14859 Warwick Blvd, Newport News, VA 23608
      View Details
    • $815,000
      5,230 SF

      Newport News Versatile Office Building

      Centrally located office building with income-producing units in Newport News.
      760 Mcguire Pl, Newport News, VA 23601
      View Details
    • $550,000
      2,254 SF

      Newport News Restaurant Property For Sale

      Turn-key restaurant property in a high-traffic Newport News location.
      9900 Jefferson Ave, Newport News, VA 23605
      View Details
    • $425,000
      1,542 SF

      Newport News Commercial Property For Sale

      Turn-key commercial property suitable for various businesses.
      9916 Warwick Blvd, Newport News, VA 23601
      View Details
    • $445,000
      3,140 SF

      Commercial Building Near Newport News Shipyard

      Versatile commercial building on Warwick Boulevard, ideal for various businesses.
      7826 Warwick Blvd, Newport News, VA 23607
      View Details
    • $520,000
      3,288 SF

      Commercial Property in Hilton Village

      Multi-tenant building in Historic Hilton Village with high visibility.
      10190 Warwick Blvd, Newport News, VA 23601
      View Details
    • $475,000
      2,945 SF

      Auto Repair Facility on Jefferson

      2945 SF auto repair facility on 0.5 acre lot.
      9955 Jefferson Ave, Newport News, VA 23605
      View Details
    • $550,000
      2,000 SF

      Commercial Property with Automotive Shop

      Commercial property with a 2000 sqft building and equipment.
      5858 Jefferson Ave, Newport News, VA 23605
      View Details
    • $2,650,000
      2,431 SF

      Mobile Home Park For Sale

      Mobile home park with 30 lots and 3 apartments.
      5115 Jefferson Ave, Newport News, VA 23605
      View Details
    • Contact for pricing
      2,000 SF

      Restaurant Opportunity Near Newport News

      Restaurant property near Newport News Shipyard with high visibility.
      3506 Washington Ave, Newport News, VA 23607
      View Details

    FAQs

    What type of property is this?
    Multifamily property - High-traffic 2.59-acre commercial site in Newport News, VA.
    Where is this multifamily property located?
    The property is located at 10614 Jefferson Ave Newport News, VA.
    What are key features of this property?
    This property features: 2.59-acre site; 45,000 daily traffic count; Signalized intersection access
    Request Owner's contact information
    10614 Jefferson Ave Newport News, VA 23601
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10614 Jefferson Ave
    Newport News, VA 23601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    10614 Jefferson Ave Newport News, VA 23601
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Doug Aronson
    Doug Aronson
    Real Estate License ID: VA 0225094359
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.