Two-Story Medical Office
For Sale
Contact for pricing
13 Courtney Dr, Charleston, WV 25304
Fully built-out medical office with exam fixtures, furnishings, multiple restrooms, and kitchen facilities.
Property Size6,220 SF
Price / SF$144.53
Days on Market13
Property Features for 13 Courtney Dr
General Information
Standard status
Active
Size
6,220 SF
Property subtype
OFFICE
Listing Agency:
Goldman Associates, Inc.
(304) 343-5695
Listed By:
Todd Goldman · License #WV0015391
(304) 343-5695
Source:
Moodyscre
Added: Aug 21
Changed: Aug 30
Last Checked: Sep 1 at 10:58PM
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.
Investment Insights
Based on property information with market context.
This two-story medical office building offers 6,220 square feet configured for single-tenant or multi-tenant occupancy, with an entrance at ground level on each floor. The interior includes exam rooms, private physician offices, waiting areas, multiple restrooms, handicap provisions, kitchen facilities, and a security and smoke/fire alarm system. Exam room fixtures, office and waiting room furniture, medical furniture, and supplies are included. The first floor previously accommodated an infusion lab, while the main level includes traditional exam rooms and the upper level contains private offices.
Constructed circa 2001, the property is located at 13 Courtney Dr in Charleston, WV. Its existing medical layout and included furnishings support continued medical office use without requiring a new build-out.
Constructed circa 2001, the property is located at 13 Courtney Dr in Charleston, WV. Its existing medical layout and included furnishings support continued medical office use without requiring a new build-out.
Key Highlights
- 6,220 SF two‑story medical office building
- Ground‑level entrances serve both floors
- Configured for single‑tenant or multi‑tenant occupancy
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
$65,497
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
7.29%
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%
$1,309,940
$1.3M
Cap Rate 7%
$935,671
$935.7K
Cap Rate 9%
$727,744
$727.7K
Market Conditions
NOI Build-Up for 6,220 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
$112.0K $18.00/SF
− Vacancy
−$24.6K −$3.96/SF
EGI
$87.3K $14.04/SF
− OpEx
−$21.8K −$3.51/SF
NOI
$65.5K $10.53/SF
Area
Kanawha County, WV
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,309,940
Cap Rate 7%
$935,671
Cap Rate 9%
$727,744
Alternative Uses
Best Use
Office B
$935.7K
$818.7K – $1.09M
NOI $65,497 @ 7.0% cap · market cap 7.29%
Second Best
Healthcare Medical
$873.9K
$764.6K – $1.02M
NOI $61,170 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,017 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 25304, WV
8,466
Population
4,062
Households
2.1
Avg Household Size
44
Median Age
50%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
873
Density / Sq Mi
$80,200
Median Household Income
$42,694
Median Earnings
$1,017
Median Rent
$227,100
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out medical office with exam fixtures, furnishings, multiple restrooms, and kitchen facilities.
Where is this medical office space located?
The property is located at 13 Courtney Dr Charleston, WV.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 6,220 SF two‑story medical office building; Ground‑level entrances serve both floors; Configured for single‑tenant or multi‑tenant occupancy
