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    671 J Clyde Morris Blvd Newport News, VA 23601
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    Property profile & analytics

    671 J Clyde Morris Blvd, Newport News, VA 23601

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    • Commercial real estate
    • 11,309 SF
    • 1.57 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Retail Space on J Clyde Morris For Lease
    $18 SF/Yr

    Retail Space on J Clyde Morris

    Former Rite Aid building for lease at signalized intersection.

    671 J Clyde Morris Blvd, Newport News, VA 23601
    View Listing
    Property ID
    US87-0426579
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Banyo Ndanga / Pharmacy
    • Hieu Bui / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm
    • Western Union / Bank / Credit Union
    • higi / Physician

    Property Details for 671 J Clyde Morris Blvd

    Year built
    1996
    Construction
    FRAME
    Lot size
    1.57 lot acres
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    214000203
    APU
    214000203

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 21, 2026 $2,650,000 Green Clean Auto Wash LLC Woods Road I LLC Deed —

    Description

    This exceptional 11,309-square-foot retail space is ideally situated at the highly visible, signalized intersection of J Clyde Morris Boulevard and Dusk Court/Woods Road in Newport News city. Benefitting from a strategic location between Interstate 64 and Jefferson Avenue, this property boasts impressive daily traffic counts of 38,498 vehicles. Built in 1996, the single-tenant building offers ample parking with 47 spaces, a convenient double drive-thru with a canopy, and a prominent pylon sign for maximum brand exposure. The C-1 zoning designation provides flexibility for a variety of retail uses. The entire 11,309 square feet is currently vacant, presenting a unique opportunity for a business seeking a high-visibility location with excellent accessibility. The property's location within an enterprise zone may offer additional economic incentives. This is a turnkey opportunity for a business looking to establish a strong presence in a high-traffic area of Newport News. The existing infrastructure, including the drive-thru and ample parking, makes this space particularly well-suited for businesses requiring convenient customer access. The pylon signage ensures excellent visibility from the busy intersection. This property represents a rare chance to secure a prime retail location in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,950,000
      6.5%
      $1,800,000
      7%
      $1,670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,422,000
      Market price range: $619k - $2.44M
      AI Estimate
      $1,862,000
      Market price range: $464k - $1.86M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,345,000
      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
    -76.4707
    Latitude
    37.0762
    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
    $30,221
    $1,196,800
    $1,064,100
    $2,260,900
    -
    $1,196,800
    $1,064,100
    $2,260,900

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      11124 Jefferson Ave

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      16,200 SF

      11061 Warwick Blvd

      COMMERCIAL (GENERAL)
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      Gloucester Land Along U.S. Route

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      Newport News Office Space Available

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      Newport Square Plaza Retail Space

      Retail space in mixed-use development with high visibility.
      832 J Clyde Morris Blvd, Newport News, VA 23601
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      Retail Space in Newport News

      29,000 SF retail space available for lease.
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      Retail Space on J Clyde Morris

      Former Rite Aid building for lease at signalized intersection.
      671 J Clyde Morris Blvd, Newport News, VA 23601
      View Details
    View Listing
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    Newport News, VA 23601
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    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.

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