12266 Jefferson Ave - Storefront Retail/Office FOR SALE


Newport News, VA 23602- Palmer
$5,039,000 USD
757-267-4335
12266 Jefferson Ave, Newport News, VA for Sale
$5,039,000 USD
Storefront Retail/Office - FOR SALE
1/9
null | 7.59% Cap Rate

Apr '26


12266 Jefferson Ave
Newport News, VA 23602
Palmer


HIGHLIGHTS

  • Great Location On Jefferson Avenue as an Outparcel to The Patrick Henry Mall in the Heart of Newport News Retail Corridor, Easy Access.
  • Credit Tenants are NNN Leases With Annual Increases and Multiple Options.
  • 216 Feet of Frontage on Jefferson Avenue with an Average Daily Traffic Count of 49,000+ Cars Per Day.
  • Easy Access to the I-64 with Major National Retailers Adjacent.
  • Brand New Lease Signed for 100% Occupancy.
  • Vitamin Shoppe and T-Mobile both extend leases for five more years and add options.

OVERVIEW

The seller will finance of 75% of purchase price. Updated OM available here. The building and trim was just painted. This is a stabilized, NNN credit tenant strip center with excellent visibility and long-term leases in place. Urgent Vet signs a new ten year lease and moved in! The center, built in 2004, is on a pad adjacent to The Patrick Henry Mall in the City of Newport News, VA. The tenants include T-Mobile, Vitamin Shoppe, Urgent Vet and Great Clips. Vitamin Shoppe , Great Clips and T-Mobile have been in the building since constructed (2004) and have strong financials backed by a consistent customer base supporting long-term tenancy . 12266 Jefferson Ave takes advantage of the huge marketing budget of the Patrick Henry Mall that draws attention to the property from its location. Newport News is home to the headquarters for Canon, Virginia and Jefferson Labs, Fort Eustis, Langley Air-force base, and the U.S. Department of Energy Laboratories. The local community includes commercial corridors, industrial areas, and an array of residential communities. The Patrick Henry Mall is the largest mall on the Virginia Peninsula with more than 120 specialty stores.

FOR SALE DETAILS

PRICE

$5,039,000 USD

PRICE/SF

$518 USD /SF

CAP RATE

7.59%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

7.59% Cap and Seller Financed Credit Retail

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Drug Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

C1

APN/PARCEL ID

141.00-01-16

ASK ABOUT THIS PROPERTY

Robert ClippingerClippinger Investment PropertiesMore Info
757-267-4335

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Robert ClippingerClippinger Investment PropertiesMore Info
757-267-4335

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