Auto Repair Shop with Tire
For Sale
$475,000
9955 Jefferson Avenue, Newport News, VA 23605
Commercial/Industrial, Newport News, VA
Property Size2,945 SF
Lot Size0.50 Acres
Price / SF$161.29
Days on Market874
Property Features for 9955 Jefferson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
ALL OTHERS AREA 107
Standard status
Active
Size
2,945 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
4546
Utilities
Heating system
Oil
Cooling system
Wall/Window Unit(s)
Building Details
Roof type
Tar/Gravel
Listing Agency:
Wainwright Real Estate
Listed By:
Stacie Sawyers
(757) 495-1900
Added: Apr 12, 2024
Changed: Aug 19
Last Checked: Sep 2 at 5:06PM
MLS# 10527664
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This auto shop occupies a 2,945-square-foot building on a 0.5-acre parcel and is licensed for auto repair and tire repair services. The property includes on-site parking, oil heating, wall/window unit cooling, and a tar/gravel roof.
The site is located at 9955 Jefferson Avenue in Newport News, near the intersection of Jefferson Avenue and Main Street. Jefferson Avenue is identified as US Route 17, providing a direct arterial setting for an automotive-oriented operation.
The site is located at 9955 Jefferson Avenue in Newport News, near the intersection of Jefferson Avenue and Main Street. Jefferson Avenue is identified as US Route 17, providing a direct arterial setting for an automotive-oriented operation.
Key Highlights
- Licensed for auto repair and tire repair services
- 2,945‑square‑foot building on a 0.5‑acre lot
- Located on Jefferson Avenue, identified as US Route 17
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,792
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,840
$495.8K
Cap Rate 7%
$354,171
$354.2K
Cap Rate 9%
$275,467
$275.5K
Market Conditions
NOI Build-Up for 2,945 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.4K $12.36/SF
− Vacancy
−$983 −$0.33/SF
EGI
$35.4K $12.03/SF
− OpEx
−$10.6K −$3.61/SF
NOI
$24.8K $8.42/SF
Area
Newport News, VA
Vacancy
2.70%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,840
Cap Rate 7%
$354,171
Cap Rate 9%
$275,467
Alternative Uses
Best Use
Retail
$354.2K
$309.9K – $413.2K
NOI $24,792 @ 7.0% cap · market cap 5.22%
Second Best
Industrial
$277.6K
$242.9K – $323.8K
NOI $19,429 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$625.5K
$547.3K – $729.7K
NOI $43,782 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
7-Eleven
Shops & Services
8,755 visits/mo
0.1 miles
Captain D's
Dining
6,126 visits/mo
0.3 miles
Little Caesars Pizza
Dining
4,069 visits/mo
0.2 miles
Cheese Steak Shop
Dining
1,815 visits/mo
0.5 miles
U-Haul
Shops & Services
1,294 visits/mo
0.4 miles
Demographics for 23605, VA
14,053
Population
6,944
Households
2
Avg Household Size
37
Median Age
18%
College-Educated
91%
High-School Grad
3.7 sq mi
ZIP Area
3,798
Density / Sq Mi
$52,899
Median Household Income
$36,286
Median Earnings
$1,187
Median Rent
$178,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
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- Goode's Automotive — 9805 warwick blvd, newport news, va 23601
- Mr. Newport News Mobile Mechanic — 9910 Hosier St, Newport News, VA 23601
- New Image Automotive Care Facility — 9917 Warwick Blvd, Newport News, VA 23601
Frequently Asked Questions
What type of property is this?
Auto shop - Licensed facility with on-site parking and a half-acre commercial parcel along Jefferson Avenue.
Where is this auto shop located?
The property is located at 9955 Jefferson Avenue Newport News, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Licensed for auto repair and tire repair services; 2,945‑square‑foot building on a 0.5‑acre lot; Located on Jefferson Avenue, identified as US Route 17
