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

    11850 Canon Blvd Newport News, VA 23606-2556

    • Industrial properties
    • 23,553 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimations
    $1,560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0513409
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Brazilian Best Granite / Kitchen & Bath Showroom / Hardware & Home Improvement
    • Fireside Hearth & Home - Newport News / Hardware & Home Improvement

    Property Details for 11850 Canon Blvd

    Year built
    1986
    Lot size
    1.02 lot acres
    Property size
    23,553 SF
    Zone code
    C5
    Property type
    Industrial properties
    APN
    185000201
    APU
    185000201

    Description

    This exceptional flex space, located at 11850 Canon Blvd in the Oyster Point submarket of Hampton Roads, offers a prime opportunity for businesses seeking versatile and immediately available office and industrial space. The property, built in 1986, boasts a total of 23,163 square feet across five suites, with 15,718 square feet currently vacant. Units are divisible to a minimum of 2,000 square feet, with a maximum contiguous space of 13,718 square feet, providing flexibility for various business needs. The building features impressive ceiling heights ranging from 20 to 23 feet, ideal for high-storage or specialized equipment. Loading and unloading is efficient with five loading docks, three dock-high doors, and two drive-in doors. The property also benefits from three-phase power, essential for many industrial operations. Situated on two acres of land, the property is zoned C5 (Oyster Point Business and Manufacturing District), allowing for a wide range of uses. This corner location at Canon and City Center Blvd offers excellent visibility and accessibility. The space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,992,000
      Market price range: $1.78M - $3.05M
      AI Estimate
      $1,254,000
      Market price range: $642k - $2.98M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,450,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News City
    State
    Virginia
    Longitude
    -76.4727
    Latitude
    37.0928
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,727
    $189,600
    $1,583,200
    $1,772,800
    -
    $189,600
    $1,583,200
    $1,772,800

    Comparable in this City

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    • Value Estimation
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      21,555 SF

      720 City Ctr Blvd

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    • Value Estimation
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      11,900 SF

      741 Bluecrab Rd

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      741 Bluecrab Rd, Newport News, VA 23606-2548
      View Details
    • Value Estimation
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      6,874 SF

      491 Muller Ln

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    • Value Estimation by Request
      4,228 SF

      110 Pointers Gln

      INDUSTRIAL (GENERAL) • 4,228 SF
      110 Pointers Gln, Newport News, VA 23606
      View Details
    • Value Estimation
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      28,560 SF

      11837 Rock Lndg Dr

      INDUSTRIAL (GENERAL) • 28,560 SF
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      View Details

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    Similar Nearby for Lease

    • $14 SF/Yr
      26,838 SF

      Industrial Space Near City Center

      Industrial property with ample parking and signage near City Center.
      813 Diligence Dr, Newport News, VA 23606
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    • $11 SF/Yr
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      Flex space with warehouse and office near Newport News Town Center.
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    • $11 SF/Yr
      2,000 SF

      Newport News Flex Space Available

      Flex space near Newport News Town Center with office and warehouse.
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      View Details
    • $14 SF/Yr
      3,975 SF

      Office/Flex Space with Warehouse

      Office and flex space with conditioned warehouse in Newport News.
      11864 Canon Blvd, Newport News, VA 23606
      View Details
    • $12 SF/Yr
      16,450 SF

      Newport News Flex Space Available

      Modern Flex/R&D Space in Oyster Point
      809 Diligence Dr, Newport News, VA 23606
      View Details
    • $25 SF/Yr
      210,501 SF

      Tech Center Retail Power Center

      8,009 SF Available in Oyster Point
      12090 Jefferson Ave, Newport News, VA 23606
      View Details
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    Newport News, VA 23606-2556
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    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
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