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    2979 Cherokee Road Northfork, WV 24868

    View on Map
    For Sale
    $949,000

    Commercial - NORTHFORK, WV

    Property size:
    3,854 SF
    Lot size:
    3.38 Acres
    Added:
    Oct 22, 2025
    Days on Market:
    163
    Last Refresh:
    Apr 2 at 12:06 am

    Property Features for 2979 Cherokee Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    3,854 SF
    Lot size
    3.38 Acres

    Building Details

    Year built
    1956
    Architectural style
    Other

    We can help!

    Listing Contact
    Laura Collins
    Laura Collins

    Listing agent Laura Collins

    Listing office OLD COLONY REALTORS 1814 Harper Road, WV

    Listing date Oct 22, 2025

    MLS# 92950 Listing URL

    Copyright © 2026 Beckley 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.

    Overview

    Northfork Commercial Investment Portfolio

    This commercial listing, known as The Outlaw Retreat, presents an all-inclusive investment portfolio in Northfork, WV. Priced at $949,000, it combines adventure, income, and opportunity. The property includes 3 homes, Jake's Store (built in 1956), 1 outbuilding, and 17 lots, with creekside parcels along Bearwallow Branch. Direct trail access allows riding straight onto the Outlaw trails, with all 4 southern Hatfield & McCoy trails just minutes away. The portfolio features income-producing properties. Outlaw House 1 is a 4-bedroom, 2-bathroom ranch that sleeps 15, with a gravel drive and camper sites. Outlaw House 2, also known as Jake's Place, is approximately 1,200 square feet with 3 bedrooms and 2 bathrooms, located creekside with a propane fireplace and sleeps 14. Reno House, or Outlaw House 3, is a 3-bedroom, 1-bathroom, 2-story home that sleeps 8-12 and has on-site parking, needing finishing for added value. Jake's Store is a commercial building with heating and cooling, fixtures, and gravel parking shared with Jake's Place, suitable for retail or rental income. Several undeveloped lots offer income potential or additional retreat development. The property is located just off US 52 between Bluefield & Welch, near Ashland, Crumpler, Keystone, Kimball, Bluewell & Bramwell, and minutes from ATV trails, local resorts, and regional attractions. The total lot size is 3.3786 acres, with a property size of 3,854 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Bed & Breakfast

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

    Similar Places Nearby

    • WV ATV Lodging — 24 Pony St, Northfork, WV 24868

    Location Insight

    • Map
    • Local Demand
    City
    Northfork
    County
    McDowell
    State
    West Virginia
    Longitude
    -81.3903671
    Latitude
    37.416165

    Nearby Similar for Sale

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    • $650,000

      Furnished Income-Producing Homes Near Trails

      Three furnished homes near Hatfield-McCoy Trailheads, sleeps 35+ guests.
      1440 Ashland-Crumpler Road, NORTHFORK, WV 24868
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    • $225,000
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      Northfork Commercial Property with Acreage

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    • $10,000

      Land Near Trails in Northfork

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    FAQs

    What type of property is this?
    Bed & breakfast - Commercial property with homes, store, outbuilding, and lots.
    Where is this bed & breakfast located?
    The property is located at 2979 Cherokee Road Northfork, WV.
    What is the asking price?
    The asking price for this property is $949,000.
    What are key features of this property?
    This property features: Direct trail access: Immediate access to Outlaw Trails and minutes from all 4 southern Hatfield & McCoy trails.; Income‑producing properties: Includes two currently income‑producing homes (Outlaw House 1 & Jake's Place) with established rental history and camper sites.; All‑inclusive investment portfolio: A package deal featuring 3 homes, a commercial building (Jake's Store), an outbuilding, and 17 lots.
    (304) 941-5696
    We can help!
    Listing Contact
    Laura Collins
    Laura Collins
    Learn More
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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
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