5200 Mercury Blvd Newport News, VA 23605
- Warehouses
- 90,936 SF
- 1.20 lot acres
Current Use by Public Records
- Sears Appliance Repair / Home Appliance Store
- Go Store It Self Storage / Storage Facility
- Amsec LLC / Engineering Consultant
- Admiral Security Services / Security Service
- Maximus / Corporate Office
Property Details for 5200 Mercury Blvd
- Year built
- 1974
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.20 lot acres
- Property size
- 90,936 SF
- Zone code
- 14 C-2 LIMITED COMMERCIAL
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 03G007A00 0000U2
- APU
- 03G007A000000U2
Description
This exceptional 17,574 square foot retail or office space presents a unique investment opportunity in the thriving Newmarket Fair shopping center in Newport News, Virginia. Located at 5200 W Mercury Blvd, zip code 23605, this end-cap space is carved from the former Sears building, offering high visibility and accessibility. The property sits on one acre of land and is zoned C-2, allowing for a variety of commercial uses. The space is part of a larger redevelopment project, with the eastern half of the building being converted into high-end self-storage. This prime location boasts significant traffic, situated along heavily trafficked West Mercury Boulevard (45,000 vehicles per day) and at the front entrance of Net Center, the largest office complex in Hampton (560,000 square feet), ensuring high foot traffic and visibility. The total building size is 100,000 square feet, with this available space spanning two floors. This presents a rare chance to establish a presence in a dynamic and well-established commercial area. The property's strategic location and ample square footage make it ideal for a variety of businesses seeking high visibility and convenient access to a large customer base. Newport News, VA offers a strong local economy and a growing population, making this a compelling investment opportunity.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $13,260,000
- ML approach
- $8,910,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $14,210,000
- 6.5%
- $13,115,000
- 7%
- $12,180,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $10,742,000
- AI Estimate
- $8,914,000
Market price range: $4.56M - $11.9MMarket price range: $2.35M - $11.2M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $7,480,000 Current use
- AUTO REPAIR, GARAGE
- $16,870,000 Change: +125% Conversion: Easy
- COMMERCIAL (GENERAL)
- $9,530,000 Change: +27% Conversion: Difficult
- RETAIL STORES
- $8,730,000 Change: +17% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $8,665,000 Change: +16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Hampton City
- State
- Virginia
- Longitude
- -76.4472
- Latitude
- 37.0188
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
