12170 Jefferson Ave Newport News, VA 23602-6908
Property profile & analytics
12170 Jefferson Ave Newport News, VA 23602-6908
- Commercial real estate
- 25,046 SF
- 2.14 lot acres
Property ID
US87-0385797
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.
Location Intelligence
Current Use by Public Records
- Barnes & Noble / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
Property Details for 12170 Jefferson Ave
- Year built
- 1997
- Construction
- FRAME
- Lot size
- 2.14 lot acres
- Property size
- 25,046 SF
- Zone code
- C1
- Property type
- Commercial real estate
- APN
- 151000504
- APU
- 151000504
Description
This exceptional investment opportunity presents a freestanding, 24,860-square-foot Barnes & Noble bookstore situated on approximately 2.14 acres of land in Newport News, Virginia. The property boasts a prime location on Jefferson Avenue, a high-traffic thoroughfare with 53,435 vehicles passing daily, offering 281 feet of prominent frontage. The building, constructed in 1997 and renovated in 2024, features a new roof and ample parking with 176 spaces, providing a 7.55:1000 parking ratio. Currently operating under a 10-year triple-net (NNN) lease with a corporate guarantee from Barnes & Noble, expiring January 31, 2035, this stabilized investment offers a compelling 7.00% cap rate and a projected Year 1 NOI of $389,746. The property is zoned C1-Commercial, reflecting its suitability for retail use. This single-tenant, fee-simple ownership opportunity provides a secure, long-term investment with significant upside potential. The property's strong tenant, prime location, and substantial remaining lease term make it an attractive addition to any portfolio. The asking price is $5,600,000, translating to a price per square foot of $225.26. The property's features include a Class A designation and a single-story building.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,320,000
- 6.5%
- $3,990,000
- 7%
- $3,705,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $3,091,000
Market price range: $662k - $3.68M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $4,880,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Newport News City
- State
- Virginia
- Longitude
- -76.4962
- Latitude
- 37.1095
- 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
$72,317
$4,345,100
$1,222,900
$5,568,000
-
$4,345,100
$1,222,900
$5,568,000
