Bank Building with
For Sale
Contact for pricing
Pending
135 Elizabeth Pike, Mineral Wells, WV 26150
Unrestricted zoning and existing drive-through infrastructure support flexible reuse of the former banking facility.
Property Size2,090 SF
Lot Size0.92 Acres
Days on Market147
Property Features for 135 Elizabeth Pike
General Information
Standard status
Pending
Size
2,090 SF
Lot size
0.92 Acres
Property subtype
Retail
Zoning
Unrestricted
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Amenities
drive-through
Building Details
Buildings
1
Listing Agency:
Tranzon Key
(703) 539-8111
Listed By:
Jeffrey Stein · License #MD 5422
Source:
Crexi
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 29 at 8:31PM
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 Tranzon Key
Investment Insights
Based on property information with market context.
Former bank building offering approximately 2,090 SF of institutional-quality space on a 0.92-acre site. The property includes a three-lane drive-through, surface parking, stacking capacity, and a building layout described as adaptable for a variety of end users. Two street ingress and egress points support site access, while the existing improvements provide a foundation for reuse or reconfiguration.
The property is positioned along Elizabeth Pike near the I-77 interchange at Exit 14 in Mineral Wells. Surrounding commercial uses include McDonald’s, branded hotels, convenience stores, and retail businesses. WVU Parkersburg is approximately 8 minutes away. Unrestricted zoning provides flexibility for redevelopment and reuse, subject to applicable requirements.
The property is positioned along Elizabeth Pike near the I-77 interchange at Exit 14 in Mineral Wells. Surrounding commercial uses include McDonald’s, branded hotels, convenience stores, and retail businesses. WVU Parkersburg is approximately 8 minutes away. Unrestricted zoning provides flexibility for redevelopment and reuse, subject to applicable requirements.
Key Highlights
- Former bank building with approximately ± 2,090 SF
- Approximately 0.92 acres with surface parking and drive‑through stacking capacity
- Existing 3‑lane drive‑through infrastructure
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
$20,182
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
7.34%
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%
$403,640
$403.6K
Cap Rate 7%
$288,314
$288.3K
Cap Rate 9%
$224,244
$224.2K
Market Conditions
NOI Build-Up for 2,090 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
$30.1K $14.40/SF
− Vacancy
−$1.3K −$0.60/SF
EGI
$28.8K $13.80/SF
− OpEx
−$8.6K −$4.14/SF
NOI
$20.2K $9.66/SF
Area
Wood County, WV
Vacancy
4.20%
Lease Rate
$14.40 /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%
$403,640
Cap Rate 7%
$288,314
Cap Rate 9%
$224,244
Alternative Uses
Best Use
Specialty Retail
$392.6K
$343.5K – $458.0K
NOI $27,481 @ 7.0% cap · market cap 9.99%
Second Best
Retail
$288.3K
$252.3K – $336.4K
NOI $20,182 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$576.1K
$504.1K – $672.2K
NOI $40,329 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
106k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 37%
Hotels & Casinos 4%
GoMart
Shops & Services
27,131 visits/mo
0.1 miles
McDonald's
Dining
23,145 visits/mo
0.2 miles
Cracker Barrel Old Country Store
Dining
22,894 visits/mo
0.4 miles
Wendy's
Dining
15,400 visits/mo
0.1 miles
BP
Shops & Services
9,988 visits/mo
0.1 miles
Demographics for 26150, WV
5,811
Population
2,720
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
44.0 sq mi
ZIP Area
132
Density / Sq Mi
$67,004
Median Household Income
$40,030
Median Earnings
$873
Median Rent
$172,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Unrestricted zoning and existing drive-through infrastructure support flexible reuse of the former banking facility.
Where is this bank located?
The property is located at 135 Elizabeth Pike Mineral Wells, WV.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Former bank building with approximately ± 2,090 SF; Approximately 0.92 acres with surface parking and drive‑through stacking capacity; Existing 3‑lane drive‑through infrastructure
