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

    11864 Canon Blvd Newport News, VA 23606

    • Industrial properties
    • 38,000 SF
    • 3.48 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0599485
    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

    • GE Energy / Construction Company / General Contractor
    • Shirley Cordova, Garrett Realty Partners / Real Estate Agency
    • Derek Peek Realtor / Real Estate Agency
    • Sam Forman / Real Estate Agency
    • Erin Bailey, Garrett Realty Partners / Real Estate Agency

    Property Details for 11864 Canon Blvd

    Year built
    1991
    Construction
    FRAME
    Lot size
    3.48 lot acres
    Property size
    38,000 SF
    Zone code
    C5
    Property type
    Industrial properties
    APN
    173000104
    APU
    173000104

    Description

    This exceptional 30,000 square foot commercial property, located at 11864 Canon Blvd in Newport News, Virginia, presents a unique opportunity for businesses seeking flexible warehouse and office space. The building, constructed in 1991, is a single-story Class B structure zoned for commercial use within Warwick County. It offers a variety of configurations to suit diverse needs, with a minimum divisible space of 5,160 square feet and a maximum contiguous space of 5,242 square feet. Currently, 10,402 square feet is available for lease. The property features high ceilings ranging from 14 to 16 feet, ideal for storage or high-volume operations. The multiple tenancy structure allows for a variety of business models to coexist, fostering a collaborative environment. The property's address is 11864 Canon Blvd, Newport News, VA 23606. This prime location offers easy access to major transportation routes, making it an attractive option for businesses needing efficient logistics. The available space is perfect for companies seeking a blend of warehouse and traditional office space, providing ample room for both operations and administrative functions. Inquire today to learn more about leasing options and secure your space in this dynamic commercial setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,180,000
      6.5%
      $3,855,000
      7%
      $3,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,922,000
      Market price range: $2.87M - $4.92M
      AI Estimate
      $3,317,000
      Market price range: $1.04M - $4.80M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,950,000
      Current use
      COMMERCIAL (GENERAL)
      $5,025,000
      Change: +27% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News City
    State
    Virginia
    Longitude
    -76.4733
    Latitude
    37.0939
    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
    $59,049
    $615,600
    $4,073,400
    $4,689,000
    -
    $615,600
    $4,073,400
    $4,689,000

    Comparable in this City

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      57,468 SF

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      View Details
    • Value Estimation
      $1,430,000
      21,555 SF

      720 City Ctr Blvd

      INDUSTRIAL (GENERAL) • 21,555 SF
      720 City Ctr Blvd, Newport News, VA 23606-2553
      View Details
    • Value Estimation
      $1,105,000
      11,900 SF

      741 Bluecrab Rd

      INDUSTRIAL (GENERAL) • 11,900 SF
      741 Bluecrab Rd, Newport News, VA 23606-2548
      View Details
    • Value Estimation
      $820,000
      6,874 SF

      491 Muller Ln

      INDUSTRIAL (GENERAL) • 6,874 SF
      491 Muller Ln, Newport News, VA 23606-1303
      View Details
    • 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
      $3,150,000
      28,560 SF

      11837 Rock Lndg Dr

      INDUSTRIAL (GENERAL) • 28,560 SF
      11837 Rock Lndg Dr, Newport News, VA 23606-4491
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $14 SF/Yr
      26,838 SF

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      Industrial property with ample parking and signage near City Center.
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      Newport News Flex Space Available

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    • $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
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      Newport News Flex Space Available

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    Newport News, VA 23606
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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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