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    Charleston Warehouse Auction - 68,000 SF Title is generated by Realmo AI

    1320 Smith St, Charleston, WV 25301

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    Two connected multi-story warehouses in Charleston's warehousing district.

    Type:Industrial, Office, Retail
    Property size:
    68,000 SF
    Added:
    Dec 10, 2024
    Days on Market:
    527
    Last Refresh:
    May 12 at 9:36 pm

    Property Features for 1320 Smith St

    General Information

    Standard status
    Active
    Size
    68,000 SF
    Property subtype
    Industrial, Office, Retail

    Building Details

    Year Built
    1919

    We can help!

    Listing Contact
    Jay Goldman

    Listing agent Jay Goldman License #WV WV0013744

    Listing office Goldman Associates Inc

    Listing date Dec 10, 2024

    Source Crexi

    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

    • Located in the original warehousing district of Charleston with C‑10 General Commercial District zoning.
    • Two connected multi‑story warehouse structures totaling 68,000 +/- square feet.
    • Includes an adjacent parking lot with 17 spaces.
    • Features interior loading docks, freight elevators, and full sprinkler system.
    • Constructed circa 1919 with post and beam exposed brick interiors.
    • Not located within a high risk flood hazard area.

    Overview

    Located on the north side of Smith Street, just east of its intersection with Morris Street, in the original warehousing district of Charleston, this property is a level site at road grade with access to all public infrastructure. The property is not located within a high risk flood hazard area and is zoned C-10, General Commercial District. The improvements consist of two connected multi-story warehouse structures containing 68,000 +/- square feet. One warehouse is a three-story structure, while the other is four-stories. Constructed circa 1919, the buildings are masonry structures with post and beam exposed brick interiors. The buildings have been used as a furniture store and warehouse for a century. The buildings feature interior loading docks, freight elevators and are fully sprinklered. Ceiling heights vary between 10' to 13' and portions are equipped with HVAC systems. The property includes the adjacent parking lot with 17 spaces. The property is for sale via upcoming real estate auction, both onsite and online. The auction onsite will begin at 10:05 am on Thursday, February 26, 2026. Online bidding opens February 18, 2026 at 8:30 am and ends on Thursday, February 26, 2026 at 11:00 am. A 10% Buyer’s Premium applies and the high bid is subject to owner approval. The owner may consider an offer prior to the auction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pugh Furniture Warehouse ... Furniture & Home Goods Yes Appliance Repair ... Home Appliance Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Similar Places Nearby

    • Storage Rentals of America — 800 Piedmont Rd, Charleston, WV 25301
    • Storage Rentals of America — 1352 Hansford St, Charleston, WV 25301
    • On The Move Self Storage — 200 Piedmont Rd, Charleston, WV 25301
    • Record Nations — 809 Quarrier St, Charleston, WV 25301
    • Cornerstone Records Managment — 1545 Hansford St, Charleston, WV 25311

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Kanawha
    State
    West Virginia
    Longitude
    -81.6223337
    Latitude
    38.3481682

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    FAQs

    What type of property is this?
    Warehouse - Two connected multi-story warehouses in Charleston's warehousing district.
    Where is this warehouse located?
    The property is located at 1320 Smith St Charleston, WV.
    What are key features of this property?
    This property features: Located in the original warehousing district of Charleston with C‑10 General Commercial District zoning.; Two connected multi‑story warehouse structures totaling **68,000 +/- square feet.**; Includes an adjacent parking lot with 17 spaces.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Goldman
    Real Estate License ID: WV WV0013744
    Learn More
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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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