11721 Jefferson Ave - Office FOR SALE


Newport News, VA 23606- Deer Park
$1,300,000 USD
757-333-4383
11721 Jefferson Ave, Newport News, VA for Sale
$1,300,000 USD
Office - FOR SALE
1/7
null | 8.21% Cap Rate

11721 Jefferson Ave
Newport News, VA 23606
Deer Park


HIGHLIGHTS

  • Fully leased office asset with stable tenant mix
  • Located at signalized intersection in Oyster Point
  • Strong NOI growth via annual rent escalations
  • Surrounded by major retail and lifestyle centers
  • Ideal candidate for 1031 exchange investment
  • Offered significantly below replacement cost

OVERVIEW

Positioned at the gateway to Oyster Point, the business epicenter of the Virginia Peninsula, 11721 Jefferson Avenue presents a rare opportunity to acquire a fully leased, income-producing office asset with enduring appeal. This single-story building spans 8,095 square feet and sits on approximately 1.48 acres with prime frontage along Jefferson Avenue, offering excellent visibility and access via a signalized intersection. The property features a diverse and stable tenant mix including legal, financial services, and medical professionals. With over 87% of the gross leasable area secured under leases with approximately five years remaining, investors benefit from minimal near-term rollover and consistent cash flow. Annual rent escalations of 3–4% further enhance the in-place net operating income of $106,725, yielding an attractive 8.2% cap rate. Surrounding amenities such as City Centre at Oyster Point, Port Warwick, Marketplace at Tech Center, and Patrick Henry Mall contribute to the location’s vibrancy and tenant retention. Offered significantly below replacement cost, this asset is ideally suited for a 1031 exchange, combining strong fundamentals with long-term upside in one of Newport News’ most desirable commercial corridors.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

8.21%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oyster Point Commons

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

145

LAND DETAILS

LAND ACRES

3.5 AC

LAND SF

152,460 SF

ZONING

0

APN/PARCEL ID

204.00-01-03

ASK ABOUT THIS PROPERTY

Jason Oliver, CCIMDivaris Real Estate, Inc.More Info
757-333-4383

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Jason Oliver, CCIMDivaris Real Estate, Inc.More Info
757-333-4383

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.