Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wheeling Multi-Family Investment Opportunity Title is generated by Realmo AI

    1517 Wood Street, Wheeling, WV 26003

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $323,000

    MULTI_FAMILY - Wheeling, WV

    Property size:
    2,382 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $135/SF
    Added:
    Feb 6, 2026
    Days on Market:
    104
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 1517 Wood Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    2,382 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1920
    Floors in Building
    3

    We can help!

    Listing Contact
    Lee Paull IV
    Lee Paull IV

    Listing agent Lee Paull IV

    Listing office Paull Associates PO Box 990, Wheeling, WV

    Listing date Feb 6, 2026

    MLS# 141303 Listing URL

    Copyright © 2026 Wheeling 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.

    HighLights

    • Excellent investment opportunity in a redeveloping area.
    • Includes an additional lot.
    • Redevelopment flexibility for parking or expansion.
    • Located near the 16th St. exit.
    • Located near the football field.
    • Built in 1920.

    Overview

    This multi-family property presents an investment opportunity near the 16th Street exit and football field in Wheeling, WV. The property includes an additional lot, offering redevelopment flexibility. This additional space can support private parking with expanded capacity or potential vertical or horizontal development. Situated in an area undergoing redevelopment, this property could be a valuable addition to an investment portfolio. The lot size is approximately 0.11 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Wheeling
    County
    Ohio
    State
    West Virginia
    Longitude
    -80.7150165
    Latitude
    40.0649037

    Nearby Similar for Sale

    • $439,000

      Established Flower Shop For Sale

      Historic flower shop in Wheeling, WV, with loyal customer base.
      1109 Eoff Street, Wheeling, WV 26003
      View Details
    • $595,000

      Three-Story Building in Wheeling, WV

      Three-story building with elevator, parking, and loading dock.
      11th Chapline Street, Wheeling, WV 26003
      View Details
    • $495,000

      Wheeling, WV Storage Investment Opportunity

      Storage facility with diverse income streams and expansion potential.
      6 Bank Street & 404 McColloch Street, Wheeling, WV 26003
      View Details
    • $598,000

      Wheeling, WV Investment Property

      Commercial property with coffee shop, greenhouse, and salon tenants.
      1200 Valley View Avenue, Wheeling, WV 26003
      View Details
    • $1,400,000

      Wheeling WV Real Estate Investment

      Fully leased commercial property with recent updates and parking.
      2108 LUMBER AVENUE, Wheeling, WV 26003
      View Details
    • $2,000,000

      Prime Wheeling Office Space

      22,000 SF office building with 65 parking spaces.
      76 16th Street, Wheeling, WV 26003
      View Details
    • $159,000

      Established Business Opportunity in Wheeling

      Established business with building and equipment near downtown Wheeling.
      3900 Jacob Street, Wheeling, WV 26003
      View Details
    • $175,000

      Established Car Wash Business Opportunity

      Well-established car wash with self-serve bays in Wheeling, WV.
      2 NORTH RIVER ROAD, Wheeling, WV 26003
      View Details
    • $271,000
      2,500 SF

      Renovated Multifamily Property in Wheeling

      Fully renovated investment property with strong cash flow potential.
      3124-3126 Eoff Street, Wheeling, WV 26003
      View Details
    • $165,000
      3,200 SF

      Wheeling Multi-Family Income Property

      Income-producing 3-unit multiplex with consistent cash flow.
      4221-4223 Wood Street, Wheeling, WV 26003
      View Details
    • $175,000

      Wheeling, WV Car Wash Business

      Car wash with automatic and self-serve bays for sale.
      0 BETHLEHEM BLVD & FAIRMONT PIKE, Wheeling, WV 26003
      View Details
    • $275,000

      Historic Mixed-Use Building in Wheeling

      Three-story commercial/residential building with parking and recent updates.
      75 12th Street, Wheeling, WV 26003
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multi-family property with redevelopment potential near 16th Street exit.
    Where is this multifamily property located?
    The property is located at 1517 Wood Street Wheeling, WV.
    What is the asking price?
    The asking price for this property is $323,000.
    What are key features of this property?
    This property features: Excellent investment opportunity in a redeveloping area.; Includes an additional lot.; Redevelopment flexibility for parking or expansion.
    (304) 280-4804
    We can help!
    Listing Contact
    Lee Paull IV
    Lee Paull IV
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1517 Wood Street, Wheeling, WV 26003
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!