Historic Riverfront Restaurant & Event
For Sale
$699,000
2 6th Avenue, Saint Albans, WV 25177
Restaurant and event venue offering dining, bar service, events, and take-out operations on a riverfront setting.
Property Size4,293 SF
Price / SF$162.82
Days on Market189
Property Features for 2 6th Avenue
General Information
Standard status
Active
Size
4,293 SF
Property subtype
Office
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,000
Amenities
Central Air, Electric, Gas
3
Hardwood, Tile, Carpet
Parking. Corner Lot. Water Access.
Other Parking, On Site, Off Street.
Irregular
0x0x0x0
River Access, Loading Dock, Sidewalks. Corner, Historic Area, Irregular.
Listing Agency:
(304) 344-2581
Listed By:
Old Colony
(304) 539-2171
Source:
Xome
Added: Feb 28
Changed: Sep 2
Last Checked: Sep 4 at 2:22AM
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 Old Colony
Investment Insights
Based on property information with market context.
This historic riverfront restaurant and event venue is built around a hospitality-focused layout designed to support multiple ways to generate revenue. Operations include on-site dining, bar service, events, and take-out, giving an owner flexibility in how the space is programmed throughout the week. The property is presented as a character-driven venue, with the seller noting a transition period in which the current owner will remain available through handoff.
Located at 2 6th Avenue in St. Albans, West Virginia, the venue’s riverfront setting is part of its overall draw for guests planning both dining and event experiences. The property is positioned to serve customers looking for a destination-style outing and hosts who need an in-house location for gatherings.
For an experienced operator, this is a practical fit for a restaurateur or hospitality business seeking to run a venue that can support dining alongside hosted events and bar service, with take-out available as an additional format. The seller’s willingness to stay involved through the transition may be helpful for continuity during ownership change, particularly for a new operator taking over established day-to-day workflows.
Located at 2 6th Avenue in St. Albans, West Virginia, the venue’s riverfront setting is part of its overall draw for guests planning both dining and event experiences. The property is positioned to serve customers looking for a destination-style outing and hosts who need an in-house location for gatherings.
For an experienced operator, this is a practical fit for a restaurateur or hospitality business seeking to run a venue that can support dining alongside hosted events and bar service, with take-out available as an additional format. The seller’s willingness to stay involved through the transition may be helpful for continuity during ownership change, particularly for a new operator taking over established day-to-day workflows.
Key Highlights
- Historic riverfront restaurant and event venue with dining, bar service, and take‑out operations
- Multiple revenue streams including dining, events, bar, and take‑out
- Restaurant and event venue setup offers both on‑site dining and event hosting
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
$46,268
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
6.62%
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%
$925,360
$925.4K
Cap Rate 7%
$660,971
$661.0K
Cap Rate 9%
$514,089
$514.1K
Market Conditions
NOI Build-Up for 4,293 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
$64.4K $15.00/SF
− Vacancy
−$2.7K −$0.63/SF
EGI
$61.7K $14.37/SF
− OpEx
−$15.4K −$3.59/SF
NOI
$46.3K $10.78/SF
Area
Kanawha County, WV
Vacancy
4.20%
Lease Rate
$15.00 /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%
$925,360
Cap Rate 7%
$660,971
Cap Rate 9%
$514,089
Alternative Uses
Best Use
Specialty Retail
$661.0K
$578.4K – $771.1K
NOI $46,268 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$946.7K
$828.4K – $1.10M
NOI $66,270 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
137k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 39%
Home Improvements & Furnishings 2%
Electronics 2%
Wendy's
Dining
16,581 visits/mo
0.4 miles
Taco Bell
Dining
15,242 visits/mo
0.3 miles
GoMart
Shops & Services
11,701 visits/mo
0.2 miles
SONIC Drive In
Dining
10,099 visits/mo
0.3 miles
GoMart
Shops & Services
9,034 visits/mo
0.3 miles
Demographics for 25177, WV
22,870
Population
11,250
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
31.6 sq mi
ZIP Area
724
Density / Sq Mi
$54,789
Median Household Income
$36,000
Median Earnings
$837
Median Rent
$129,100
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?
Conventional restaurant - Restaurant and event venue offering dining, bar service, events, and take-out operations on a riverfront setting.
Where is this conventional restaurant located?
The property is located at 2 6th Avenue Saint Albans, WV.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Historic riverfront restaurant and event venue with dining, bar service, and take‑out operations; Multiple revenue streams including dining, events, bar, and take‑out; Restaurant and event venue setup offers both on‑site dining and event hosting
