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    54 Washington St Elizabeth, WV 26143

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    For Sale
    $199,900

    Prime Corner Lot, Multi-Use Potential

    Property Features for 54 Washington St

    General Information

    Property type
    Mixed-use properties
    Lot Size
    37,897 SF

    Building Details

    Year Built
    1948

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    Listing Contact
    Tania Moore

    Listing Agency: RE/MAX Properties of the Valley Listing Agent: Tania Moore

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional mixed-use property, located at 54 Washington Street in Elizabeth, West Virginia, presents a unique investment or development opportunity. The building, formerly a medical facility, boasts a remarkably low-maintenance design and sits on a sizable 0.87-acre corner lot. This generous lot provides ample on-site parking, a significant advantage for any commercial venture. The expansive space also offers considerable potential for future development or subdivision, catering to a variety of uses and business models. The property's versatility makes it ideal for owner-occupants seeking a convenient location and flexible space, or for investors looking for a strong return. The building is ready for immediate possession, allowing for a swift transition and commencement of operations or redevelopment. Its prime location in Elizabeth, WV, offers excellent visibility and accessibility, further enhancing its appeal. The absence of significant maintenance requirements translates to reduced operational costs, making this a financially attractive proposition. Whether you envision a single-tenant occupancy or a multi-tenant configuration, this property's adaptability and strategic location position it for success. Serious inquiries are encouraged to explore the full potential of this remarkable opportunity. The property is offered at $199,900.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Wirt
    State
    West Virginia
    Longitude
    -81.39429
    Latitude
    39.06276

    FAQs

    What type of property is this?
    Mixed-use property - Prime Corner Lot, Multi-Use Potential
    Where is this mixed-use property located?
    The property is located at 54 Washington St Elizabeth, WV.
    What is the asking price?
    The asking price for this property is $199,900.
    (304) 428-8200
    Request Owner's contact information
    54 Washington St Elizabeth, WV 26143
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    54 Washington St
    Elizabeth, WV 26143
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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
    54 Washington St Elizabeth, WV 26143
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    We can help!
    Listing Contact
    Tania Moore
    (304) 428-8200 (304) 482-7896
    Learn more
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