Retail Business for Lease in Newport News, VA

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Newport News, VA 23602

Description

4,000 SF Retail Space For Sublease Jefferson Commons is a prominent regional power center located in the Patrick Henry retail corridor of Newport News. Spanning around 282,357 square feet, it features key anchors such as Kohl’s, Trader Joe’s, Total Wine, Old Navy, TJ Maxx, Ross, HomeGoods and Petco. The suite available for sublease is currently Buff City Soap. • Excellent accessibility • Convenient one-stop shopping • A diverse selection of goods and services • Ample and convenient parking available • Open-air layout providing an improved shopping experience • New Amtrak transportation center set to open on June 1st, 2025 off Bland Boulevard

Market Context

This retail in Newport News, VA is listed for lease. It has been on the market for 164 days. Compare it against other retail listings for lease in Newport News, VA — <a href="/search/lease/retail/virginia/newport-news">view the full market</a>.

As of Q4 2023, the Hampton Roads retail market showed a 3.6% vacancy rate, average asking rents near $22.50/SF/yr, and cap rates around 6.6%. Source: Consensus Q4 2023 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Hampton Roads?
About 6.6% as of Q4 2023, per Consensus.
Is the Hampton Roads retail market tightening or softening?
Vacancy is around 3.6% (Q4 2023).

Unified Estimate

Medium Confidence

$11.59/SF/mo – $15.67/SF/mo

Mid: $13.63/SF/mo

Rate estimator only; cost-of-business estimate unavailable.

Contact

Explore this market

Similar Retail Business for Lease in Newport News, VA