Flex Office/Warehouse
For Sale
$262,800
Pending
1234 Ohio Avenue, Dunbar, WV 25064
Commercial Sale, Dunbar, WV
Property Size4,500 SF
Lot Size0.13 Acres
Days on Market62
Property Features for 1234 Ohio Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Pending
APN
26-12-139 & 140
Size
4,500 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5155
Building Details
Year built
1970
Listing Agency:
Joe R. Pyle Complete Auction and Realty Service
(304) 592-6000
Listed By:
Joe Pyle
(304) 592-6000
Added: Jul 2
Changed: Aug 19
Last Checked: Sep 1 at 3:06PM
MLS# 11866678
Copyright © 2026 My State MLS. 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.
This flex property at 1234 Ohio Avenue in Dunbar combines office areas with warehouse and work space within approximately 4,500 square feet. The building also includes rear parking and access from the alley, supporting a practical mix of administrative and operational functions. Constructed in 1970, the property is situated in Dunbar’s B-2 Central Business District. Its configuration brings office, work, storage, parking, and secondary access together in one commercial building. The property is located in Kanawha County, West Virginia, with a Dunbar mailing address of 25064.
Key Highlights
- Approximately 4,500+/- sqft. of office, warehouse, and work area
- B‑2 Central Business District location in Dunbar
- Rear parking included
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
$22,482
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
8.55%
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%
$449,640
$449.6K
Cap Rate 7%
$321,171
$321.2K
Cap Rate 9%
$249,800
$249.8K
Market Conditions
NOI Build-Up for 4,500 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
$35.1K $7.80/SF
− Vacancy
−$3.0K −$0.66/SF
EGI
$32.1K $7.14/SF
− OpEx
−$9.6K −$2.14/SF
NOI
$22.5K $5.00/SF
Area
Kanawha County, WV
Vacancy
8.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$449,640
Cap Rate 7%
$321,171
Cap Rate 9%
$249,800
Alternative Uses
Best Use
Office B
$676.9K
$592.3K – $789.8K
NOI $47,385 @ 7.0% cap · market cap 18.03%
Second Best
Flex RnD
$394.2K
$345.0K – $460.0K
NOI $27,597 @ 7.0% cap · market cap 10.50%
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 26.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 25064, WV
9,229
Population
5,058
Households
1.8
Avg Household Size
44
Median Age
31%
College-Educated
94%
High-School Grad
6.7 sq mi
ZIP Area
1,377
Density / Sq Mi
$52,708
Median Household Income
$35,274
Median Earnings
$902
Median Rent
$117,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas provide a flexible commercial configuration with rear parking and alley access.
Where is this flex space located?
The property is located at 1234 Ohio Avenue Dunbar, WV.
What is the asking price?
The asking price for this property is $262,800.
What are key features of this property?
This property features: Approximately 4,500+/- sqft. of office, warehouse, and work area; B‑2 Central Business District location in Dunbar; Rear parking included
