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    413 Kerens Ave Elkins, WV 26241

    View on Map
    Sponsored
    For Sale
    $289,900

    Mixed Use - Elkins, WV

    Type:Mixed Use
    Property size:
    4,939 SF
    Lot size:
    0.13 Acres
    Days on Market:
    31
    Last Refresh:
    Mar 26 at 2:06 am

    Property Features for 413 Kerens Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Security features
    Security System
    Window features
    Skylight(s)
    Zoning
    General Commercial
    Parking features
    Off Street
    Interior features
    Attic Access, washer Connection, electric Dryer Connection, icemaker Connection, wet Bar, skylight(s), 9ft+ Ceiling, fireplace, public Restrooms, living Space Available, security System
    Exterior features
    Partially Fenced, Storage Building, Outside Storage Area, Dumpster Area, Other, Detached Signage
    Fencing
    Fenced, Partial
    Fireplace
    1
    Appliances
    Barbeque or Grill, Dishwasher, Dryer, Freezer, Microwave, Range, Refrigerator, Washer
    Size
    4,939 SF
    Lot size
    0.13 Acres

    Utilities

    Utilities
    Electricity Available
    Heating system
    Electric (Heating), Forced Air, Heat Pump (Heating), Natural Gas, Other (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Heat Pump, Multi Units, Window Unit(s)

    Building Details

    Year built
    1897
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Laminate, Tile, Tile - Ceramic, Wood
    Building materials
    Block, Concrete
    Roof type
    Metal, Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    LETITIA JOHNSON

    Propst Realty

    Listing agent LETITIA JOHNSON License #WV0030028

    Listing date Feb 23, 2026

    MLS# 10162762 Listing URL

    Copyright © 2026 North Central West Virginia Real Estate Information Network. 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

    Turn-Key Restaurant with Residential Space

    This mixed-use property features a well-established, turn-key restaurant with a fully equipped kitchen, inviting seating areas, and a distinctive bar space that has been recently updated. The restaurant also includes a charming outdoor patio area and a designated space for live entertainment. The property is located in a desirable, high-visibility area, one block from the college campus. Above the main restaurant area is a fully functional residential space, ideal for owner/operators, staff housing, or supplemental rental income. The residential living space includes a primary bedroom, an office or second bedroom space, a living room, laundry facilities, a kitchen, and a dining room. The property offers additional possibilities for retail or office space. It is situated just a few blocks from City Hall, the County Court House, and the Federal building, in a location near a historic downtown area, hotels, a brewery, restaurants, the Augusta Heritage Center, the Train Depot and Event and Convention Center, and many shops.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    El Gran Sabor Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkins
    County
    Randolph
    State
    West Virginia
    Longitude
    -79.848175
    Latitude
    38.926395

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    FAQs

    What type of property is this?
    Mixed-use property - Established restaurant with living space near college campus.
    Where is this mixed-use property located?
    The property is located at 413 Kerens Ave Elkins, WV.
    What is the asking price?
    The asking price for this property is $289,900.
    What are key features of this property?
    This property features: - Turn-key restaurant with fully equipped kitchen, inviting seating, and updated bar in a high-visibility location.; - Functional residential space above the restaurant, ideal for owner/operator, staff housing, or rental income.; - Charming outdoor patio and designated live entertainment space.
    (304) 940-9689
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    413 Kerens Ave Elkins, WV 26241
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    Elkins, WV 26241
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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
    413 Kerens Ave Elkins, WV 26241
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    Listing Contact
    LETITIA JOHNSON
    Real Estate License ID: WV0030028
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