Mixed-Use Property with Upper-Level Residential
For Sale
$150,000
1617 N Walker Street, Princeton, WV 24740
Commercial space is paired with an optional residential component on the upper floor.
Property Size1,858 SF
Price / SF$80.73
Days on Market9
Property Features for 1617 N Walker Street
General Information
Standard status
Active
Size
1,858 SF
Property subtype
Commercial Building
Amenities
dedicated parking
adjoining green space
Lot Size Acres: 0.1
Percentage of Tax that is Deductable: 0
Carpet Floor
Sale, Sale Type: Foreclosure
2 Stories
Above Area Square Feet: 1858
Brick Siding, Vinyl Siding
Listing Agency:
Home by Hicks & Co.
Listed By:
Stacey Hicks
(304) 500-4663
Source:
Doyle-realty
Added: Oct 12
Changed: Oct 19
Last Checked: Oct 19 at 9:48AM
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 Home by Hicks & Co.
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Investment Insights
Based on property information with market context.
This mixed-use property in Princeton combines commercial space with an optional residential area above. Dedicated parking and adjoining green space are also part of the property.
The property is near the Mercer County Courthouse, restaurants, and professional offices in Princeton.
The property is near the Mercer County Courthouse, restaurants, and professional offices in Princeton.
Key Highlights
- Commercial space with optional residential area above
- Dedicated parking
- Adjoining green space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,542
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,840
$250.8K
Cap Rate 7%
$179,171
$179.2K
Cap Rate 9%
$139,356
$139.4K
Market Conditions
NOI Build-Up for 1,858 SF
Gross rent
$22.3K $12.00/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$20.1K $10.80/SF
− OpEx
−$7.5K −$4.05/SF
NOI
$12.5K $6.75/SF
Area
Mercer County, WV
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,840
Cap Rate 7%
$179,171
Cap Rate 9%
$139,356
Alternative Uses
Best Use
Retail
$320.4K
$280.4K – $373.8K
NOI $22,428 @ 7.0% cap · market cap 14.95%
Second Best
Mixed Use
$179.2K
$156.8K – $209.0K
NOI $12,542 @ 7.0% cap · market cap 8.36%
Theoretical Best
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,913 @ 7.0% cap · market cap 55.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Superstores 21%
Shops & Services 13%
Home Improvements & Furnishings 2%
McDonald's
Dining
23,276 visits/mo
0.5 miles
Big Lots
Superstores
19,330 visits/mo
0.4 miles
Hardee's
Dining
9,382 visits/mo
0.5 miles
Roses Discount Store
Shops & Services
9,341 visits/mo
0.4 miles
SONIC Drive In
Dining
9,004 visits/mo
0.5 miles
Demographics for 24740, WV
16,238
Population
8,069
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
89%
High-School Grad
30.6 sq mi
ZIP Area
531
Density / Sq Mi
$46,272
Median Household Income
$39,867
Median Earnings
$831
Median Rent
$133,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with an optional residential component on the upper floor.
Where is this mixed-use property located?
The property is located at 1617 N Walker Street Princeton, WV.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Commercial space with optional residential area above; Dedicated parking; Adjoining green space
