Four Buildings on Half
For Sale
Contact for pricing
1011 Speedway Ave, Fairmont, WV 26554
Mixed-use property with income potential near I-79.
Property Size3,999 SF
Lot Size0.54 Acres
Price / SF$97.27
Days on Market652
Property Features for 1011 Speedway Ave
General Information
Standard status
Active
Size
3,999 SF
Total Parking Spaces
15
Lot size
0.54 Acres
Property subtype
Mixed Use, Multifamily, Office, Retail
Building Details
Year Built
1925
Buildings
4
Listing Agency:
Black Diamond Realty
Listed By:
David Lorenze, CCIM, SIOR, Principal & Associate Broker · License #WV0025501
Source:
Crexi
Added: Oct 29, 2024
Changed: Aug 11
Last Checked: May 12 at 11:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Black Diamond Realty
Investment Insights
Based on property information with market context.
This mixed-use property comprises four buildings situated on 0.54 acres. Two of the buildings are currently fully leased, providing immediate revenue potential. The property benefits from its location just 0.4 miles from I-79, Exit 137, offering excellent visibility, frontage, and direct access along Speedway Avenue. The surrounding area features popular fast-food establishments, including McDonald’s, KFC, and Subway. The property is located in a rapidly developing area of Marion County. The traffic count directly in front of the property along Speedway Avenue is 7,044 vehicles per day (Esri and Data Axle, 2024). The property size is 3,999 square feet.
Key Highlights
- Immediate revenue potential from two fully leased buildings
- Excellent visibility, frontage, and direct access on Speedway Avenue
- Prime location just 0.4 miles from I‑79, Exit 137
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
$32,392
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
8.33%
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%
$647,840
$647.8K
Cap Rate 7%
$462,743
$462.7K
Cap Rate 9%
$359,911
$359.9K
Market Conditions
NOI Build-Up for 3,999 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
$57.6K $14.40/SF
− Vacancy
−$5.8K −$1.44/SF
EGI
$51.8K $12.96/SF
− OpEx
−$19.4K −$4.86/SF
NOI
$32.4K $8.10/SF
Area
Marion County, WV
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$647,840
Cap Rate 7%
$462,743
Cap Rate 9%
$359,911
Alternative Uses
Best Use
Apartment 5plus
$21.85M
$19.12M – $25.50M
NOI $1,529,735 @ 7.0% cap · market cap 393.25%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,796 @ 7.0% cap · market cap 21.03%
Theoretical Best
Multifamily LT 5
$24.53M
$21.47M – $28.62M
NOI $1,717,381 @ 7.0% cap · market cap 441.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 26554, WV
42,133
Population
19,688
Households
2.1
Avg Household Size
40
Median Age
30%
College-Educated
94%
High-School Grad
131.9 sq mi
ZIP Area
319
Density / Sq Mi
$69,271
Median Household Income
$40,688
Median Earnings
$931
Median Rent
$181,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with income potential near I-79.
Where is this mixed-use property located?
The property is located at 1011 Speedway Ave Fairmont, WV.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Immediate revenue potential from two fully leased buildings; Excellent visibility, frontage, and direct access on Speedway Avenue; Prime location just 0.4 miles from I‑79, Exit 137
