Modern Industrial Facility For
For Sale
$1,100,000
514 West Virginia Ave, Parkersburg, WV 26101
Built in 2019, tenant occupied, ideal for investors.
Property Size11,800 SF
Price / SF$93.22
Days on Market157
Property Features for 514 West Virginia Ave
General Information
Standard status
Active
Size
11,800 SF
Property subtype
Industrial
Listing Agency:
Coldwell Banker Commercial Select Properties
(304) 422-6000
Listed By:
Betsy Asbury-Parsons · License #230302633
(304) 422-6000
Source:
Cbcworldwide
Added: Mar 5
Changed: Jul 10
Last Checked: Jun 26 at 12:08PM
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 Coldwell Banker Commercial Select Properties
Investment Insights
Based on property information with market context.
This modern industrial facility, constructed in 2019, is located within an M-1 Light Manufacturing District, situated across six parcels. The building, measuring 80 feet by 147.5 feet, provides approximately 11,800 square feet of space. It features a concrete foundation, metal exterior walls and roof, and double-pane insulated vinyl windows. The interior includes epoxy-coated concrete floors, a 14-foot ceiling height, and LED lighting throughout. A ceiling fire suppression system is installed, equipped with 159 water sprinklers. Office areas have painted drywall walls and are heated by gas-fired forced air, with central air conditioning. The warehouse space is heated by four Modine gas-fired ceiling-hung heaters. Access is facilitated by seven overhead doors, including one 8-foot by 8-foot metal door and six 10-foot by 12-foot electric-operated metal doors. The property includes one restroom with a wall-hung sink, water closet, and an instantaneous water heater. Currently, the property presents an income-producing opportunity with an existing tenant paying $5,000 per month, who is responsible for all utilities and interested in remaining. This property is suitable for investors or owner-users looking for a modern, low-maintenance industrial asset.
Key Highlights
- Income‑producing property with existing tenant paying $5,000/month and interested in remaining.
- Modern (built 2019) industrial facility in M‑1 Light Manufacturing District.
- Approximately 11,800 sq. ft. building with 14’ ceiling height and LED lighting.
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
$60,704
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
5.52%
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%
$1,214,080
$1.2M
Cap Rate 7%
$867,200
$867.2K
Cap Rate 9%
$674,489
$674.5K
Market Conditions
NOI Build-Up for 11,800 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
$77.9K $6.60/SF
− Vacancy
−$6.5K −$0.55/SF
EGI
$71.4K $6.05/SF
− OpEx
−$10.7K −$0.91/SF
NOI
$60.7K $5.14/SF
Area
Wood County, WV
Vacancy
8.30%
Lease Rate
$6.60 /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%
$1,214,080
Cap Rate 7%
$867,200
Cap Rate 9%
$674,489
Alternative Uses
Best Use
Warehouse
$867.2K
$758.8K – $1.01M
NOI $60,704 @ 7.0% cap · market cap 5.52%
Second Best
Industrial
$714.2K
$624.9K – $833.2K
NOI $49,991 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$3.25M
$2.85M – $3.79M
NOI $227,693 @ 7.0% cap · market cap 20.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 26101, WV
28,337
Population
14,134
Households
2
Avg Household Size
41
Median Age
16%
College-Educated
84%
High-School Grad
30.8 sq mi
ZIP Area
920
Density / Sq Mi
$45,556
Median Household Income
$31,511
Median Earnings
$759
Median Rent
$107,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Built in 2019, tenant occupied, ideal for investors.
Where is this manufacturing property located?
The property is located at 514 West Virginia Ave Parkersburg, WV.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Income‑producing property with existing tenant paying $5,000/month and interested in remaining.; Modern (built 2019) industrial facility in M‑1 Light Manufacturing District.; Approximately **11,800 sq. ft. building with 14’ ceiling height and LED lighting.**
