Janelle Wright - Commercial Real Estate Showcase

Janelle Wright Property Listings
Wright Real Estate Holdings LLC
9812 Falls Rd.
Potomac, MD 20854
(301) 325-0417

711 79th Street - Newmarket Shopping Center

Newport News, VA 23605-2767 - Downtown Newport News Submarket

Property Type:Office Sub Type:Medical Status:Existing Year Built:-
Stories:3 Typical Floor:- Building Size:19,256 SF
For Sale Price:$2,301,024 Price/SF:$119.50
Cap Rate:6.32 %
Parking:Free Surface spaces are available; Ratio of 4.46/1,000 SF
13,756 SF is available to occupy upon purchase.


National Tenant with over 2,000 locations nationwide DaVita Inc., NYSE: DVA, and S&P rating of BB, with 13.5 years remaining on existing NN lease.

The DaVita Dialysis Facility located at the subject property serves over 130 patients per week (national ave. 81 patients/wk.)

Lease has two scheduled rent increases of 10% in July 2020 and July 2025.

There are two (2) five-year renewal options in July 2030 and July 2035, also with 10% rent increases.

Please contact us for confidential Offering Memorandum.

Lease provided upon signing of a LOI. Buy side broker commission offered.

Sale Notes:
Alternate Address: 7907 Marshall Ave., Newport News, VA 23605

The property includes a 13,756 SF DaVita Dialysis Facility and 5,500 SF of shell retail space.

Ingress/Egress: Provided via Newmarket Square Marshall Ave. and 79th St.

Reciprocal easement provides ingress and egress to the Out-parcel.

Parking: 86 spaces plus a cross easement providing additional parking.
Zoning: C-1, Retail Commercial
Structure: Concrete, steel frame, brick veneer and glass
HVAC: 4 new rooftop units installed in 2011

Substantial and recent (2016) capital improvements by DaVita Dialysis of over $500,000 for interior improvements. Exterior improvements by Landlord of over $50,000 for exterior paint, fencing and repaving of parking lot.

5,500 SF of shell retail space for immediate buyer upside. Shell retail can be divided into five (5) units.

2.12 acre site with 8,000 SF of site available for build-to-suit potential

2% buy side commission

Wright Real Estate Holdings LLC
Janelle Wright
(301) 325-0417

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