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    Elkview Office Space Available Title is generated by Realmo AI

    5000 Elk River Rd, Elkview, WV

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    Two connected office buildings available for lease in Elkview.

    Type:OFFICE
    Property size:
    17,073 SF
    Lot size:
    48.66 Acres
    Added:
    Jul 19, 2024
    Days on Market:
    685
    Last Refresh:
    May 20 at 8:57 pm

    Property Features for 5000 Elk River Rd

    General Information

    Standard status
    Active
    Size
    17,073 SF
    Lot size
    48.66 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 5000 Elk River Rd Contact us

    We can help!

    Listing Contact
    Nancy Dollison
    Nancy Dollison

    Listing agent Nancy Dollison

    Listing office Goldman Associates, Inc.

    Listing date Jul 19, 2024

    Source Moodyscre

    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 Goldman Associates, Inc.

    HighLights

    • Two connected masonry buildings totaling 30,863 SF, usable jointly or separately.
    • Ready for immediate occupancy (one building) and near‑term occupancy (other building).
    • Ample on‑site parking and fenced lot portions.
    • Located on US Route 119 with high visibility and Elk River frontage.
    • Easy access to Interstate 79 via two interchanges.
    • Not subject to B&O taxes.

    Overview

    This property features two masonry buildings connected by two breezeways, totaling 30,863 gross square feet. The buildings, with 13,790 square feet and 17,073 square feet respectively, are built out as general office space and were last used jointly by an engineering firm. The interiors feature mostly open floor plans with perimeter hard wall offices. Both buildings are fully built-out, in good condition, and equipped with wet sprinkler and security systems, ready for immediate occupancy. The 17,073 square foot building will be available October 31, 2023, while the 13,790 square foot building is available immediately. Located along Elk River Road South (US Route 119) in Elkview, the property is not subject to B&O Taxes. Ample on-site parking is available, along with fenced lot portions. The property is located along the bus line and offers easy access to Interstate 79 at two interchanges: the Elkview Interchange approximately 3 miles northwest and the Big Chimney Interchange approximately 4 miles to the southwest. The property benefits from high visibility on a heavily traveled thoroughfare (US Route 119) and adjoins the Elk River at the rear.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jacobs Engineering Consultant

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Pharmacy Storage Facility HVAC Service Bar & Pub Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkview
    County
    Kanawha
    State
    West Virginia
    Longitude
    -81.4909
    Latitude
    38.4228

    FAQs

    What type of property is this?
    Office building - Two connected office buildings available for lease in Elkview.
    Where is this office building located?
    The property is located at 5000 Elk River Rd Elkview, WV.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Two connected masonry buildings totaling 30,863 SF, usable jointly or separately.; **Ready for immediate occupancy** (one building) and near‑term occupancy (other building).; Ample on‑site parking and fenced lot portions.
    (304) 343-5695 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nancy Dollison
    Nancy Dollison
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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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