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    808 Elk River Rd Gassaway, WV 26624

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    For Sale
    $650,000

    Farm/Estate - Gassaway, WV

    Type:Farm
    Property size:
    1,980 SF
    Lot size:
    143.76 Acres
    Price / SF:
    $328/SF
    Added:
    Jul 6, 2025
    Days on Market:
    300
    Last Refresh:
    May 1 at 2:06 pm

    Property Features for 808 Elk River Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    100
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen
    Parking features
    Garage, Garage - Detached
    Basement Y/N
    1
    Appliances
    Dishwasher, Microwave, Refrigerator, Washer
    Standard status
    Active
    Size
    1,980 SF
    Lot size
    143.76 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Electric (Heating), Forced Air, Natural Gas, Wood (Heating), Wood Stove
    Cooling system
    Central Air

    Building Details

    Year built
    1929
    Year renovated
    1929
    Flooring type
    Carpet, Tile
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Monica Harper

    Listing agent Monica Harper

    Listing office Central WV Real Estate, LLC PO Box 22, Glenville, WV

    Listing date Jul 6, 2025

    MLS# 11530507 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Farm/Estate in Central WV Region

    This 143-acre farm is located in central West Virginia, approximately 5 miles from I-79. The property includes a renovated 1,980 square foot home, originally built in 1929. The home features four bedrooms and two bathrooms. The first floor includes a sunporch leading into the living room, a bathroom with a laundry area, a dining room adjacent to the kitchen, and a formal living room. The second floor contains four bedrooms and one full bath. The basement provides additional storage space and a central vacuum system. The property utilizes city water and gas heat, with wood heat as an additional option. Additional structures include a detached carport, a 40x50 garage/workshop with electric, and a wood shed with a Taylor wood stove. The land is suitable for farming and hunting, and has the potential for development into additional homesites. The property is located less than an hour from Yeager Airport and Charleston, and is near recreational areas such as Sutton Lake, Burnsville Lake, Summersville Lake, and Stonewall Jackson Lake Resort Area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Pharmacy Auto Parts Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gassaway
    County
    Braxton
    State
    West Virginia
    Longitude
    -80.791714
    Latitude
    38.668724

    Nearby Similar for Sale

    • $120,000

      Gassaway Office Building For Sale

      2,500 SF office space in central Gassaway, move-in ready.
      626 Elk St, Gassaway, WV 26624
      View Details
    • $280,000
      8,399 SF

      Gassaway Mixed-Use Investment Opportunity

      Well-maintained, fully leased commercial property with historic charm and modern functionality.
      612 Elk Street, Gassaway, WV 26624-1136
      View Details
    • $169,900
      4,000 SF

      Renovated Multi-Unit Building on Main

      Renovated building with income potential in Gassaway, West Virginia.
      514 Elk Street, Gassaway, WV 26624
      View Details

    FAQs

    What type of property is this?
    Farm - 143-acre farm with renovated 4-bedroom home near I-79.
    Where is this farm located?
    The property is located at 808 Elk River Rd Gassaway, WV.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Large 143‑acre farm offering scenic views and peaceful country living.; Excellent farming and hunting opportunities await on this expansive property.; Enjoy modern amenities in the UPDATED and RENOVATED 4‑bedroom, 2‑bathroom home (1980 sq ft).
    (304) 462-5997
    We can help!
    Listing Contact
    Monica Harper
    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.

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    808 Elk River Rd, Gassaway, WV 26624

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