Enterprise Leasing Co Of Norfolk/Richmond Purchases Retail Property In Newport News For $6.4M
11999 Jefferson Avenue
$6,400,000
$237/SF
Building Size
26,992 SF
Asset Type
Retail
Closing
Nov 3, 2026
About this deal
AI
Enterprise Leasing Co. of Norfolk/Richmond purchased a retail property at 11999 Jefferson Avenue in Newport News, Virginia. The property spans 26,992 square feet and is situated on 2.94 acres. The sale price for this transaction was $6.4 million, equating to a price per square foot of $237.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,400,000
- Address: 11999 Jefferson Avenue
- Market: Newport News, VA
- Seller: Lloyd Allyn Julien Jr Revocable Trust
- Buyer: Enterprise Leasing Co of Norfolk/Richmond, LLC
- Broker: Kenneth Penrose Jr - Cushman & Wakefield
- Square Footage: 26,992
- Price per Square Foot: $237
Kenneth Penrose Jr from Cushman & Wakefield represented the interests of Lloyd Allyn Julien Jr Revocable Trust in this transaction. This sale highlights the involvement of local businesses and trusts in property transactions within the Newport News area.
On the Map
$6,400,000
$237/SF
Retail
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Newport News Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93