Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    724 Thimble Shoals Blvd Newport News, VA 23606

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    724 Thimble Shoals Blvd Newport News, VA 23606

    View on Map
    • Office properties & Spaces
    • 5,000 SF
    • 2.94 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Homes by David Johnson, REALTOR® / Real Estate Agency
    • Keith Lovick, Howard Hanna Real Estate Svcs. / Real Estate Agency
    • Stephen Simmons / Real Estate Agency
    • The Crist Team, Howard Hanna William E. Wood / Real Estate Agency
    • Katlyn Potter Loan Officer / Loan Service / Bank

    Property Details for 724 Thimble Shoals Blvd

    Year built
    1984
    Lot size
    2.94 lot acres
    Property size
    5,000 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional Class A executive office building, located at 724 Thimble Shoals Blvd in Newport News, Virginia, presents a unique investment opportunity. The single-story structure, built in 1984, boasts a total of 30,000 square feet on a 2.94-acre lot, offering flexible suite sizes ranging from 5,000 to 20,000 square feet of net rentable space (10,000 currently available). Situated at a signalized intersection, the property enjoys maximum visibility from Thimble Shoals Blvd and Canon Blvd, with prominent signage opportunities. The building features 157 surface parking spaces, providing a generous parking ratio. Its prime location within Oyster Point Park places it adjacent to City Center, a vibrant mixed-use development encompassing Class A office buildings, national retailers, entertainment venues, and a Marriott Conference Center. The property is zoned C4 and benefits from 3-phase power. The building is currently available for sale, either entirely vacant or with existing tenants. The full-service lease rate is $15.95 per square foot. This is an exceptional opportunity to acquire a highly visible and well-located office building in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News City
    State
    Virginia
    Longitude
    -76.4698
    Latitude
    37.084

    Comparable in this City

    • Value Estimation by Request
      29,751 SF

      601 Thimble Shoals Blvd

      Office properties & Spaces • 29,751 SF
      601 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Value Estimation by Request
      19,939 SF

      12515 Warwick Blvd

      Medical Office Space • 19,939 SF
      12515 Warwick Blvd, Newport News, VA 23606
      View Details
    • Value Estimation by Request
      30,000 SF

      724 Thimble Shoals Blvd

      Office properties & Spaces • 30,000 SF
      724 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Value Estimation by Request
      18,855 SF

      580 City Ctr Blvd

      Office properties & Spaces • 18,855 SF
      580 City Ctr Blvd, Newport News, VA 23606
      View Details
    • Value Estimation by Request
      18,000 SF

      601 Thimble Shoals Blvd

      Restaurants • 18,000 SF
      601 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Value Estimation by Request
      82,000 SF

      11820 Fountain Way

      Office properties & Spaces • 82,000 SF
      11820 Fountain Way, Newport News, VA 23606
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,264 SF

      Newport News City Center Office

      Centrally located office space in Newport News City Center.
      704 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing
      19,939 SF

      Corner Lot Office Building

      Three-story, 20,000 SF office building near CNU.
      12515 Warwick Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing

      Three-Building Office Park For Sale

      Office park in Oyster Point business hub, prime purchase opportunity.
      11717 Jefferson Ave, Newport News, VA 23606
      View Details
    • Contact for pricing
      4,820 SF

      Newport News Office Condo For Sale

      Two-story office condo with suites available, centrally located.
      744 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing
      1,496 SF

      Newport News Office Building For Sale

      1,496 SF office building in Newport News, Virginia.
      729 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing
      19,939 SF

      Office Building Near CNU Hidenwood

      20,000 SF office building near CNU with redevelopment potential.
      12515 Warwick Blvd, Newport News, VA 23606
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Development in Oyster Point

      52-acre mixed-use development with retail, office, and residential spaces.
      11820 Merchants Walk, Newport News, VA 23606
      View Details
    • Contact for pricing

      Office Space in Omni Park

      Office space in a park-like setting, Newport News.
      827 Diligence Dr, Newport News, VA 23606
      View Details
    • Contact for pricing

      Two-Story Office/Retail Building

      Two-story office/retail building available for rent.
      601 Thimble Shoals Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing

      Office Space Near City Center

      Office space with easy access to major thoroughfares and City Center.
      580 City Center Blvd, Newport News, VA 23606
      View Details
    • Contact for pricing

      Newport News Office Space Available

      Office space for rent in Newport News, Virginia.
      11821 Rock Landing Dr, Newport News, VA 23606
      View Details
    • Contact for pricing

      Oyster Point Office Space

      Office space available at Canon Boulevard and City Center Boulevard.
      11850 Canon Blvd, Newport News, VA 23606
      View Details
    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.
    724 Thimble Shoals Blvd
    Newport News, VA 23606
    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

    724 Thimble Shoals Blvd, Newport News, VA, 23606

    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!