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    0 Route 16 Ellenboro, WV 26346

    View on Map
    For Sale
    $165,000

    Commercial Building - Ellenboro, WV

    Property size:
    2,880 SF
    Lot size:
    3.01 Acres
    Added:
    May 30, 2024
    Days on Market:
    677
    Last Refresh:
    Apr 6 at 8:06 am

    Property Features for 0 Route 16

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Garage
    Standard status
    Active
    APN
    03-0023-0011-0000, 03-0023-0013-0000
    Size
    2,880 SF
    Lot size
    3.01 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    456

    Utilities

    Heating system
    Natural Gas, Radiant

    Building Details

    Year built
    2016
    Year renovated
    2016
    Floors in Building
    2
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Alice Jane Wilson

    Listing agent Alice Jane Wilson

    Listing office Adrian Properties WV, LLC 133 W Wagner St, Ellenboro, WV

    Listing date May 30, 2024

    MLS# 11284454 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

    Ellenboro Commercial Building on Route 16

    This 2880 square foot commercial building is situated in a prime location along Route 16 in Ellenboro, WV. Formerly a Plumbing and Heating Company, the property offers several possibilities for various business types. The building features radiant floor heat supplied by a gas well. Water is currently provided by a well, with community water also available via a tap in place. The electrical service is 200 amp. The property is located at the intersection of Glendale Rd and Rt 16. The building includes a kitchenette, a half bath that could be converted into a full bath, two offices, a workshop area, and a storage/unloading area with an oversized garage door at the back. The upstairs area provides 960 square feet of storage space, which could be converted into bedrooms or other functional spaces. The 3.01-acre property could also be converted into a barndominium, a place of worship, or an event venue.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Ellenboro
    County
    Ritchie
    State
    West Virginia
    Longitude
    -81.079604
    Latitude
    39.283089

    FAQs

    What type of property is this?
    Retail space - 2880 SF commercial building with prime location and versatile potential.
    Where is this retail space located?
    The property is located at 0 Route 16 Ellenboro, WV.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: Prime location on RT. 16 in Ellenboro, WV, at the intersection of Glendale Rd, offering high visibility and accessibility.; Large 2880 sq ft commercial building with versatile potential for various businesses, barndominium conversion, or event venue.; Free heating from a gas well providing radiant floor heat throughout the building, significantly reducing operating costs.
    (304) 483-6880
    We can help!
    Listing Contact
    Alice Jane Wilson
    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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