Flex Space with Outdoor
For Sale
$729,000
12 Washington Avenue, Huntington, WV 25701
COMMERCIAL, Huntington, WV
Property Size10,190 SF
Lot Size1.06 Acres
Price / SF$71.54
Days on Market12
Property Features for 12 Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Chain Link
Lot features
Level
Directions
12 Washington Avenue
Subdivision
05 - Central City
Standard status
Active
Size
10,190 SF
Lot size
1.06 Acres
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
1900
Building materials
Block/Concrete
Roof type
Rubber
Listing Agency:
MCGUIRE REALTY COMPANY
(304) 529-6033
Listed By:
Francis McGuire · License #0019009
(304) 751-6577
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 25 at 6:06AM
MLS# 184967
Copyright © 2026 Huntington Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
At 12 Washington Avenue in Huntington, this flex property spans 8 parcels totaling 1.06 acres. The 10,190-square-foot block-and-concrete building combines office, computer, showroom, kitchen, bathroom, and garage space. Heating is central natural gas, with central air conditioning and a rubber roof; the building dates to 1900.
Three lots are positioned at the front, with four chain-link-fenced storage parcels behind the building. The property is offered for sale and is also available under an NNN lease.
Three lots are positioned at the front, with four chain-link-fenced storage parcels behind the building. The property is offered for sale and is also available under an NNN lease.
Key Highlights
- 10,190‑square‑foot office and warehouse building
- 8 parcels totaling 1.06 acres
- Three front lots and four fenced storage parcels behind the building
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
$62,966
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
8.64%
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%
$1,259,320
$1.3M
Cap Rate 7%
$899,514
$899.5K
Cap Rate 9%
$699,622
$699.6K
Market Conditions
NOI Build-Up for 10,190 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
$79.5K $7.80/SF
− Vacancy
−$5.4K −$0.53/SF
EGI
$74.1K $7.27/SF
− OpEx
−$11.1K −$1.09/SF
NOI
$63.0K $6.18/SF
Area
Cabell County, WV
Vacancy
6.80%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,259,320
Cap Rate 7%
$899,514
Cap Rate 9%
$699,622
Alternative Uses
Best Use
Warehouse
$899.5K
$787.1K – $1.05M
NOI $62,966 @ 7.0% cap · market cap 8.64%
Second Best
Flex RnD
$840.6K
$735.6K – $980.8K
NOI $58,845 @ 7.0% cap · market cap 8.07%
Theoretical Best
Multifamily LT 5
$6.18M
$5.40M – $7.20M
NOI $432,271 @ 7.0% cap · market cap 59.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 25701, WV
22,342
Population
12,388
Households
1.8
Avg Household Size
41
Median Age
38%
College-Educated
89%
High-School Grad
38.9 sq mi
ZIP Area
574
Density / Sq Mi
$51,671
Median Household Income
$32,873
Median Earnings
$869
Median Rent
$153,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office, showroom, warehouse, and fenced outdoor areas offer a combined indoor and exterior commercial footprint.
Where is this flex space located?
The property is located at 12 Washington Avenue Huntington, WV.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 10,190‑square‑foot office and warehouse building; 8 parcels totaling 1.06 acres; Three front lots and four fenced storage parcels behind the building
