Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    14505 Old Courthouse Way Newport News, VA 23608-2854
    Back to Search
    Property profile & analytics

    14505 Old Courthouse Way, Newport News, VA 23608-2854

    View on Map
    • Apartment buildings
    • 2,871 SF
    • 5.95 lot acres
    Off-Market
    Last Sale Feb 9, 2022
    $13,750,000
    Property ID
    US87-0569328
    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.
    Value Estimations
    $11,580,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Linden at Forrest Pines / Apartment Complex

    Property Details for 14505 Old Courthouse Way

    Year built
    1985
    Lot size
    5.95 lot acres
    Zone code
    R8
    Property type
    Apartment buildings
    APN
    98000109
    APU
    98000109

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 9, 2022 $13,750,000 Old Courthouse Owner LLC Farnham Multifamily LLC Special Warranty Deed $10.3M · Berkadia Commercial Mortgage LLC
    Oct 31, 2016 — Farnham Multifamily LLC — Deed · related $7.1M · Greystone Fndg
    Dec 20, 2010 $4,650,000 Farnham Multifamily LLC Courthouse Acres Apartments Ll Grant Deed —
    — — Farnham Multifamily LLC — Deed Of Trust · related $7.1M · Greystone Fndg

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,475,000
      ML approach
      $8,335,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News City
    State
    Virginia
    Longitude
    -76.5414
    Latitude
    37.1343
    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
    $180,198
    $1,650,000
    $12,886,500
    $14,536,500
    -
    $1,650,000
    $12,886,500
    $14,536,500

    Comparable in this City

    • Value Estimation by Request
      100 SF

      13311 Jefferson Ave

      APARTMENT HOUSE (5+ UNITS)
      13311 Jefferson Ave, Newport News, VA 23608-8300
      View Details
    • Value Estimation
      $1,630,000
      2,635 SF

      108 Landridge Ct

      APARTMENT HOUSE (5+ UNITS)
      108 Landridge Ct, Newport News, VA 23608-1952
      View Details
    • Value Estimation
      $1,930,000
      3,700 SF

      874 Lucas Crk Rd

      APARTMENT HOUSE (5+ UNITS)
      874 Lucas Crk Rd, Newport News, VA 23608
      View Details
    • Value Estimation
      $1,105,000
      1,234 SF

      91 Riv Palms Rd

      APARTMENT HOUSE (5+ UNITS)
      91 Riv Palms Rd, Newport News, VA 23608-8489
      View Details
    • Value Estimation
      $1,475,000
      3,340 SF

      205 Rotunda Cir

      APARTMENT HOUSE (5+ UNITS)
      205 Rotunda Cir, Newport News, VA 23608-1160
      View Details
    • Value Estimation by Request
      15.41 Acres

      15310 Warwick Blvd

      APARTMENT HOUSE (5+ UNITS)
      15310 Warwick Blvd, Newport News, VA 23608-2626
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,096 SF

      Newport News Office Condominium

      Centrally located office condominium in Newport News, Virginia.
      710 Denbigh Blvd, Newport News, VA 23608
      View Details
    • $100,000
      0.87 Acres

      Lakefront Lot in Established Neighborhood

      Residential land for sale in Newport News, Virginia.
      158 Highwood Cir, Newport News, VA 23608
      View Details
    • Contact for pricing
      6,344 SF

      Medical Office Near Hospital

      Leased medical office building near hospital with strong demographics.
      716 Denbigh Blvd, Newport News, VA 23608
      View Details
    • Contact for pricing

      Land Available in Newport News

      Land for sale at 555 Denbigh Blvd, Newport News, VA.
      555 Denbigh Blvd, Newport News, VA 23608
      View Details
    • Contact for pricing

      Office Complex at Signalized Intersection

      Multi-building office complex with ample parking, two visible entrances, and strong access near major traffic routes.
      11719B Jefferson Ave, Newport News, VA 23608
      View Details
    • Contact for pricing

      15550 Warwick Blvd, Newport News, VA 23608

      Commercial land
      15550 Warwick Blvd, Newport News, VA 23608
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse and Residential Property

      Warehouse and residential house for lease, includes 9,000 lb lift.
      21 Curtis Tignor Rd, Newport News, VA 23608
      View Details
    • Contact for pricing

      Retail/Office Development on Jefferson Avenue

      21,240 SF retail/office development in Newport News, Virginia.
      13175 Jefferson Ave, Newport News, VA 23608
      View Details
    • Contact for pricing
      1,491 SF

      Retail Space in Mixed-Use Development

      Retail space available in Newport News mixed-use development.
      610 Stoney Creek Ln, Newport News, VA 23608
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for rent.
      467 Denbigh Blvd, Newport News, VA 23608
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,200 to 2,000 SqFt.
      15432 Warwick Blvd, Newport News, VA 23608
      View Details
    • $15,000 /Mo
      8,000 SF

      Newport News Commercial Land

      C-1 zoned property with redevelopment potential in Newport News.
      14859 Warwick Blvd, Newport News, VA 23608
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    14505 Old Courthouse Way
    Newport News, VA 23608-2854
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    14505 Old Courthouse Way, Newport News, VA, 23608
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!