Entity Owned Property summary
This exceptional investment opportunity presents a fee-simple ownership of a 16,500 square foot Class A storefront, currently 100% occupied by La-Z-Boy Incorporated (NYSE: LZB) under a triple-net (NNN) lease. The lease, boasting a corporate guarantee, commenced June 1st, 2000, and has a remaining term of eight years, expiring May 31st, 2031. A significant 6% rent increase is built into the lease for 2026. The property, built in 2000 and renovated in 2021, sits on a 1.52-acre lot zoned C2 in… a high-traffic area of Newport News, Virginia, at 11967 Jefferson Avenue, zip code 23606. Jefferson Avenue is a major commercial corridor experiencing nearly 50,000 vehicles per day. The property benefits from its proximity to significant employers, including Jefferson Labs, a technology center, Newport News/Williamsburg Airport, NASA Langley Research Center, Langley Air Force Base, CHKD Health, Canon, and several other major corporations. National retailers such as Whole Foods, Costco, Ulta, Aldi, Lidl, Target, and Homesense are located within a one-mile radius. The property's strong demographics include over 176,000 residents within a five-mile radius, with average household incomes exceeding $96,000. Recent capital expenditures include parking lot improvements and new HVAC units. The asking price is $4,400,000, representing a 6.75% cap rate and a price per square foot of $266.67. The current Net Operating Income (NOI) is $297,000. This offering presents a compelling opportunity for passive income generation with a strong tenant and a desirable location. The property is well-maintained and benefits from below-market rent compared to similar properties in the area, which command rents exceeding $30 per square foot.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
Value estimate
· Sep 2026Realmo valuation models over county records and 6 qualifying comparable sales.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 6 properties nearbyComparable nearby
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 16,510 SF
- Lot area
- 1.52 ac
- Year built
- 2000
- Stories
- 1
- APN
- 172000109
- Zoning
- C2
- Assessed value · 2023
- $3,432,500
- Annual tax · 2023
- $43,855
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
The intent of this zone is to establish district regulations for a broad spectrum of general business uses including offices, retail sales, retail services, business services and other commercial activities such as autom…
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Full Property Data
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- Alternative use
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