950 Omni Blvd, Newport News, VA 23602
For Sale
1 / 5
This exceptional 5.06-acre commercial land parcel is ideally situated at 950 Omni Boulevard in Newport News, Virginia, zip code 23602. Zoned C-4 (Hotel), this property presents a unique investment opportunity within the Oyster Point Industrial/office Park, a thriving business community recognized as the Peninsula's premier location. The site boasts unparalleled visibility from I-64 and the J Clyde Morris Blvd. exit, ensuring maximum exposure for any development. Its adjacency to the Magnuson Hotel (formerly the Omni Hotel) further enhances its strategic position within a vibrant area featuring over two million square feet of office space, numerous hotels, shopping centers, a mall, and a concentration of banking, legal, and research facilities. The property's size and zoning allow for a wide range of development possibilities, making it an attractive prospect for investors seeking high-impact commercial projects. A pylon sign is also available, adding to the property's marketing potential. This is a rare opportunity to acquire a significant land parcel in a prime location with exceptional visibility and access to a robust infrastructure. The asking price for this remarkable property is $800,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C4 · Newport News, VANewport News. Always verify with local authorities before improvements.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.