PROPERTIES

Newmarket South Shopping Center

123 Newmarket Square, Newport News, VA 23605

Overview

Price:$18,400,000
Building Size:355,962 SF
Property Type:Retail
Total Lot Size:33.67 Acres
Year Built:1957

Description

355,962 Square-Foot Grocery Anchored Community Center

Junior Anchor Space Available, Anchor Sized Space Recently Backfilled

Low Rents | AVG $8.6 Rent/SF | 19-Units or 86k SF of Upside | 2 Pads

Mix of Long-Term Leases on Larger Spaces, Short-Term on Smaller Spaces

Caters to a Wide Range of Consumers and Tenants | 150k+ Population in 5-Miles

Priced Well Below Replacement Cost | High Leasing Velocity

Situated Along Major Thoroughfare 40k VPD, 80k at Intersection

#2 Most Populous City in VA | Newport News is Home to Largest Ship Builder in US

Location

Explore the thriving city of Newport News, VA, a strategic destination for Retail investors. Nestled in a dynamic community, the area offers a balanced fusion of urban amenities and natural beauty. Nearby attractions include the Newport News Victory Arch, a historic landmark honoring the city’s rich heritage, the Virginia Living Museum, a unique facility blending wildlife habitats with engaging exhibits, and the Peninsula Town Center, a premier shopping and dining hub. With an array of dining, entertainment, and recreational options, this location creates an inviting atmosphere for potential tenants and visitors. Embrace the potential for advancement and prosperity in this sought-after locale, positioning it as an exceptional choice for your next commercial investment.

Contact Broker

Chris Kinnard
Vice President
Lee & Associates Cincinnati

Cell270.985.5008
Office513.387.0056
Fax513.272.2060

Stan Falk
Senior Vice President
Lee & Associates Cincinnati

Cell513.900.7509
Office513.385.0055
Fax513.272.2060

Powered by Buildout