Building Details

Year built 1951

Listing Agency: ONE REALTY GROUP Show Phone

Listed By: CHUCK HARVEY, GRI Show Phone

Added: Jun 10 Changed: Aug 20 Last Checked: Sep 14 at 7:06AM

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MLS# 57137

Copyright © 2026 Mercer Tazewell Co BOR. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This former gas station property includes a 2,180-square-foot building and a paved lot on Coal Heritage Road. The site encompasses 0.38 acres and contains existing improvements that can support evaluation for redevelopment or conversion to another commercial use.

Constructed in 1951, the property offers an established roadside setting with direct access from Coal Heritage Road. The existing building and paved surface provide a physical starting point for commercial planning, including consideration of retail, automotive service, office, storage, or convenience-oriented concepts, subject to applicable requirements.

Key Highlights

• 2,180‑square‑foot existing building
• 0.38‑acre commercial site
• Former gas station property

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$9,518

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.43%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$190,360 $190.4K

Cap Rate 7%

$135,971 $136.0K

Cap Rate 9%

$105,756 $105.8K

Market Conditions

NOI Build-Up for 2,180 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$14.4K $6.60/SF

− Vacancy

−$791 −$0.36/SF

EGI

$13.6K $6.24/SF

− OpEx

−$4.1K −$1.87/SF

NOI

$9.5K $4.37/SF

Area

Mercer County, WV

Vacancy

5.50%

Lease Rate

$6.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$190,360

Cap Rate 7%

$135,971

Cap Rate 9%

$105,756

Alternative Uses

Best Use

Retail

$375.9K

$328.9K – $438.6K (±1% cap)

NOI $26,314 @ 7.0% cap · market cap 12.24%

Second Best

Specialty Retail

$307.6K

$269.2K – $358.9K (±1% cap)

NOI $21,532 @ 7.0% cap · market cap 10.02%

Theoretical Best

Multifamily LT 5

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,456 @ 7.0% cap · market cap 45.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Gas stations

Suggested Use

Top Pick Building Supply HVAC Service Big Box & Wholesale Store Auto Parts Store Storage Facility Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

69

Businesses Nearby

18k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 78% Shops & Services 20% Home Improvements & Furnishings 3%

Burger King Dining

14,113 visits/mo 0.1 miles

Family Dollar Shops & Services

3,559 visits/mo 0.0 miles

Airgas Home Improvements & Furnishings

467 visits/mo 0.3 miles

Demographics for 24701, WV

19,137

Population

9,419

Households

2

Avg Household Size

44

Median Age

19%

College-Educated

86%

High-School Grad

61.2 sq mi

ZIP Area

313

Density / Sq Mi

$44,188

Median Household Income

$29,589

Median Earnings

$775

Median Rent

$100,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this gas stations located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Gas station - Existing improvements and a paved site provide a foundation for commercial redevelopment or conversion.

Where is this gas station located?

The property is located at 1851 Coal Heritage Rd Bluewell, WV.

What is the asking price?

The asking price for this property is $214,900.

What are key features of this property?

This property features: 2,180‑square‑foot existing building; 0.38‑acre commercial site; Former gas station property