Retail or Light Industrial Redevelopment-Signalized Corner
Prime Signalized Corner. Great Redevelopment Opportunity
Marketing description
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively present for sale the Fulan Sweets Distribution Center property located at 11847 Jefferson Avenue, Newport News, Virginia 23606.
This property, a former restaurant, sits on 1.32ac of land at a signalized corner with prime visibility. The traffic count on Jefferson Avenue is 49,000 vpd. A new roof was installed in 2023 with a 20-year warranty.
The property is currently zoned M1 which is for light industrial use. Retail and other commercial uses will need a rezoning. However, the city’s Master Plan calls for changing the zoning use in this corridor to more general commercial uses.
The property is 3 minutes to City Center at Oyster Point (mixed use) and 4 minutes to Marketplace at Tech Center (Whole Foods, Ulta, DSW, P.F. Chang's).
Investment highlights
Prime signalized corner.
Excellent visibility
Big traffic count: 49,000 vpd on Jefferson Ave.
Existing building is 7,351sf and has newer roof.
Ample parking
Many adaptable reuses with zoning change including medical, hotel, multifamily, retail, and self-storage
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