Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Jefferson Avenue Commercial Site Title is generated by Realmo AI

    10614 Jefferson Ave, Newport News, VA 23601

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2.59ac site on Jefferson Ave with high traffic volume.

    Type:Hospitality, Land, Multifamily, Office, Retail
    Lot size:
    2.59 Acres
    Added:
    Nov 10, 2024
    Days on Market:
    572
    Last Refresh:
    May 12 at 10:07 pm

    Property Features for 10614 Jefferson Ave

    General Information

    Standard status
    Active
    Lot size
    2.59 Acres
    Property subtype
    Hospitality, Land, Multifamily, Office, Retail

    We can help!

    Listing Contact
    Doug Aronson
    Doug Aronson

    Listing agent Doug Aronson License #FL BK3274104

    Listing office S.L. Nusbaum Realty Co

    Listing date Nov 10, 2024

    Source Crexi

    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

    HighLights

    • High traffic location: 45,000 vehicles per day (VPD) on Jefferson Ave.
    • Large 2.59‑acre site with 400’ of frontage.
    • Signalized corner location.
    • Wide range of permitted commercial uses by right (retail, office, medical, education, hotel/motel).
    • Additional uses allowed with a conditional use permit.
    • Available for sale or ground lease.

    Overview

    This 2.59-acre commercial site is located on Jefferson Avenue in Newport News, Virginia, a heavily traveled road with a traffic volume of 45,000 vehicles per day. The property features a signalized corner location with 400 feet of frontage. The site is suitable for a variety of commercial uses permitted by right, including retail, office, medical, education, and hotel/motel. Many other uses are allowed with a conditional use permit. The property is available for sale or ground lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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
    -76.4595939
    Latitude
    37.0491683

    Nearby Similar for Sale

    • $1,850,000
      12,832 SF

      Versatile Two-Story Office School Building

      A zoned O-1 building with offices, classrooms, and meeting spaces plus room for future site improvements.
      9302 Warwick Boulevard, Newport News, VA 23601
      View Details
    • $785,000
      5,230 SF

      Newport News Office Building

      Versatile office building in central Newport News with income potential.
      760 Mcguire Place, Newport News, VA 23601
      View Details
    • $259,900
      746 SF

      Newport News Commercial Opportunity

      Take-out/drive-up building with high visibility and entrepreneurial potential.
      5862 Jefferson Avenue, Newport News, VA 23605
      View Details
    • $2,000,000
      8,104 SF

      Turn-Key Commercial Property, Newport News

      Renovated 8,104 SF property on 0.59 acres with 32 parking spaces.
      13749 Warwick Boulevard, Newport News, VA 23602
      View Details
    • $325,000
      3,000 SF

      Commercial Land in Newport News

      Commercial land for sale in a prime Newport News location.
      10410 Warwick Boulevard, Newport News, VA 23601
      View Details
    • $450,000
      1,479 SF

      Newport News Commercial Property For Sale

      Commercial property for sale in Newport News, Virginia.
      9913 Jefferson Avenue, Newport News, VA 23605
      View Details
    • $99,000
      6,908 SF

      Turnkey Hemp Retail Business

      High-visibility, high-traffic location with strong repeat customer base.
      10105 Jefferson Avenue, Newport News, VA 23605
      View Details
    • $3,975,000
      17,840 SF

      Newport News Medical Office Building

      17,840 SF medical office building in Newport News, VA
      401 Oyster Point Road, Newport News, VA 23602
      View Details
    • $520,000
      2,254 SF

      Newport News Restaurant Opportunity

      Commercial restaurant property in a high-traffic Newport News location.
      9900 Jefferson Avenue, Newport News, VA 23605
      View Details
    • $550,000
      2,000 SF

      Newport News Commercial Property For Sale

      Commercial property with building, business, and equipment included.
      5858 Jefferson Avenue, Newport News, VA 23605
      View Details
    • $300,000
      5,765 SF

      Restaurant Building for Sale

      Large Newport News restaurant property with convenient access near major employers and interstate connections.
      3506 Washington Avenue, Newport News, VA 23607
      View Details
    • $400,000
      1,542 SF

      Turn-Key Dental Office

      Turn-key medical suite on a high-traffic corridor, suitable for dental use or small contractor operations.
      9916 Warwick Boulevard, Newport News, VA 23601
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.59ac site on Jefferson Ave with high traffic volume.
    Where is this commercial land located?
    The property is located at 10614 Jefferson Ave Newport News, VA.
    What are key features of this property?
    This property features: High traffic location: 45,000 vehicles per day (VPD) on Jefferson Ave.; Large 2.59‑acre site with 400’ of frontage.; Signalized corner location.
    (757) 627-8611 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Doug Aronson
    Doug Aronson
    Real Estate License ID: FL BK3274104
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    10614 Jefferson Ave, Newport News, VA 23601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!