9976 Jefferson Ave Newport News, VA 23605
- Commercial real estate
- 13,905 SF
- 1.84 lot acres
Current Use by Public Records
- Walgreens Photo / Passport Photo Processor / Photo Lab
- Walgreens / Drug Store / Beauty Supply Store
- Walgreens Pharmacy / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- FedEx OnSite / Mailing Service
Property Details for 9976 Jefferson Ave
- Year built
- 1999
- Construction
- FRAME
- Lot size
- 1.84 lot acres
- Property size
- 13,905 SF
- Zone code
- C1
- Property type
- Commercial real estate
- APN
- 263000302
- APU
- 263000302
Description
This exceptional 13,905-square-foot retail space, formerly a Walgreens, presents a unique investment opportunity in the thriving Newport News, Virginia market. Located at 9976 Jefferson Ave, zip code 23605, this single-tenant property is ideally suited for a variety of medical-related businesses or other retail uses. The building's prime location ensures high visibility and accessibility, benefiting from significant foot traffic and convenient access to major roadways. The property's size allows for ample space to accommodate a wide range of operational needs. Its previous use as a Walgreens speaks to its established infrastructure and suitability for retail operations. The surrounding area boasts a strong concentration of established businesses, including major retailers such as Walmart, Food Lion, Dollar Tree, Roses, and CVS. Furthermore, the property benefits from proximity to a Walmart Neighborhood Center and numerous fast-food restaurants, convenience stores, and gas stations, including 7-Eleven and Wawa. This strategic location within a densely populated area guarantees a substantial customer base and significant potential for growth. The property is classified as Retail, Subtype Medical, and offers a single tenancy. This presents a rare opportunity to acquire a well-positioned, sizable retail space in a high-traffic area of Newport News. Serious inquiries are encouraged.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,650,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,985,000
- 6.5%
- $2,060,000
- 7%
- $1,975,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,275,000
- Geo Method
- $2,110,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,940,000
- Retail
- $1,855,000
- Mixed-Use
- $1,920,000
- Hospitality
- $1,625,000
- Educational
- $1,865,000
- Residential Income
- $1,735,000
- Energy
- $1,900,000
- Income-Based Land
- $1,720,000
- Food Service
- $1,525,000
Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Newport News City
- State
- Virginia
- Longitude
- -76.4554
- Latitude
- 37.0378
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
