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    150-156 Courtney Dr Lewisburg, WV 24901

    Sponsored
    For Sale
    $2,500,000

    MULTI_FAMILY - Lewisburg, WV

    Property size:
    6,031 SF
    Lot size:
    1.32 Acres
    Days on Market:
    18
    Last Refresh:
    Feb 7 at 6:06 pm

    Property Features for 150-156 Courtney Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    44 and 44.4
    Size
    6,031 SF
    Lot size
    1.32 Acres

    Utilities

    Heating system
    Electric (Heating), Baseboard

    Building Details

    Year built
    1874
    Floors in Building
    2
    Number of units
    14
    Flooring type
    Carpet
    Building materials
    Vinyl Siding, Wood Siding
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Debbie Echols
    Debbie Echols

    Coldwell Banker Stuart and Watts Real Estate (304) 645-1242

    Listing agent Debbie Echols

    Listing date Jan 21, 2026

    MLS# 26-76 Listing URL

    Copyright © 2026 Greenbrier Valley Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Lewisburg Multifamily Investment Property

    Located in the center of Historic Lewisburg, West Virginia, this unique multifamily complex features a large, colonial-style main house built in 1874, originally used as a manse for a local church. The main house offers 6031 square feet of space, with 3 to 4 bedrooms, 2 bathrooms, a kitchen, and a living room on the upper floor. The lower level is suitable for entertaining, with several offices and a large conference room. In addition to the main house, the property includes 14 apartments and a 4-bay garage. Situated on 1.3 acres, the property provides ample parking and is currently income-producing. The property is zoned for commercial use. Its in-town location offers proximity to the West Virginia School of Osteopathic Medicine, New River College, Greenbrier County Library, Carnegie Hall, and Greenbrier Valley Medical Center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lewisburg
    County
    Greenbrier
    State
    West Virginia
    Longitude
    -80.447952
    Latitude
    37.804321

    Nearby Similar for Sale

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      Versatile Corner Property in Lewisburg

      Highly visible corner property suitable for commercial, residential, or mixed-use.
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    • $2,625,000
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      Prime Lewisburg Commercial Property

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    FAQs

    What type of property is this?
    Apartment building - Income-producing multifamily complex with historic main house and 14 apartments.
    Where is this apartment building located?
    The property is located at 150-156 Courtney Dr Lewisburg, WV.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Immediate income-producing multi-family complex with 14 apartments.; - Large 6031 sq ft main house with potential for residential or commercial use.; - Prime location in Historic Lewisburg, close to key institutions and amenities.
    (304) 645-1242
    Request Owner's contact information
    150-156 Courtney Dr Lewisburg, WV 24901
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    Lewisburg, WV 24901
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    150-156 Courtney Dr Lewisburg, WV 24901
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    We can help!
    Listing Contact
    Debbie Echols
    Debbie Echols
    (304) 645-1242
    Learn more
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