Property profile

321 Main St Newport News, VA 23601

OFF-MARKET
Commercial real estate
Property ID
US87-0473021
11,816 SF 1.4 ac lot Built 1961
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional medical office building, located at 321 Main St, Newport News, VA 23601, presents a unique investment opportunity. Constructed in 1961, the 12,123 square foot building offers a total of three suites, with a minimum divisible space of 2,373 square feet and larger spaces available up to 5,080 square feet. The property is ideally suited for medical practices seeking flexible and adaptable space in a well-established location. Its multiple tenancy structure allows for diverse occupancy, providing potential for strong rental income. The building's prime location in Newport News offers excellent visibility and accessibility, ensuring convenient access for patients and staff. This is a rare opportunity to acquire a well-maintained medical office building in a thriving Virginia market. The property's solid construction and established tenant base make it an attractive investment for both seasoned and emerging investors in the healthcare real estate sector. The building's layout is designed to accommodate a variety of medical specialties, offering ample space for examination rooms, waiting areas, and administrative offices. With its strategic location and versatile space options, this property is poised for continued success and strong returns. Serious inquiries are encouraged to explore this exceptional investment opportunity further.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1961
Construction FRAME
Total area 11,816 SF
Lot 1.4 ac (60,984 SF)
Zoning code O1
APN 263000237
UPID US87-0473021

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • High School Daycare Center
  • Pediatrician Medical Clinic
  • Pediatrician Medical Clinic
  • Physician
  • Pediatrician Medical Clinic

Location

321 Main St Newport News, VA 23601-3814
Newport News metro Census 31400 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$525k
CAP Approach CAP
by Request
Comparable Approach Comparable
$711k
Blend (final) Blend
$525k

Owner & transaction history

since 2024
Last sale
$526,000
1 recorded transaction
2024
$526,000

Zoning & alternative use

O1 · Newport News, VA
Zoning description

nt or provision of the data. Fort Eustis JLUS Study Area Fort Eustis City of Newport News Boundary County Boundary York County Zoning EO GB IG IL LB NB PD R7 R13 R20 R33 RMF RR RC WCI YVA Newport News Zoning C1 C2 M1 M2…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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