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    Multi-Section Flex and Storage Building Title is generated by Realmo AI

    207 W Myles Avenue, Pennsboro, WV 26415

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    Large multi-section property with flexible interior space, yard area, and updated electrical for adaptable commercial uses.

    Type:Office
    Property size:
    17,088 SF
    Lot size:
    1.84 Acres
    Price / SF:
    $19/SF
    Added:
    Jun 2, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 2:00 am

    Property Features for 207 W Myles Avenue

    General Information

    Standard status
    Active
    Size
    17,088 SF
    Lot size
    1.84 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    Terry Coatney

    Listing agent Terry Coatney

    Listing office Coldwell Banker Select Properties

    Listing date Jun 2, 2026

    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 Coldwell Banker Select Properties

    HighLights

    • Approximately 17,088 SF multi‑section commercial/mixed‑use building at 207 Myles Avenue (Pennsboro, WV).
    • Sits on approximately 1.84 acres with yard area and exterior access.
    • County records show C‑Commercial with Mixed/Commercial land use; use types include dwelling, retail store, and multi‑use storage.
    • Separate electric and gas meters for 4 sections.
    • Includes storage and workspace potential with flexible interior areas for adaptable commercial uses.
    • Updated electrical noted; building does need work and is offered as a value‑add project.

    Overview

    This for-sale commercial and mixed-use building is reported at approximately 17,088 square feet and sits on approximately 1.84 acres. The structure includes multiple building sections with flexible interior areas that can support storage and workspace needs. The property also includes yard area and has updated electrical.

    County records designate the land as C-Commercial, with mixed commercial land use and use types that include dwelling, retail store, and multi-use storage. The building is designed with separate electric and gas meters for four sections, which may help accommodate separate operations within the same property.

    The property is well suited for an owner-user or contractor seeking substantial space for storage and work areas, as well as for buyers interested in repurposing a larger commercial asset. Because the building needs work, it offers an opportunity for a buyer to update and reposition the space for retail, storage, or mixed-use applications in line with the property’s recorded use categories.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Hotel & Motel Bar & Pub Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pennsboro
    County
    Ritchie
    State
    West Virginia
    Longitude
    -80.964806
    Latitude
    39.28267

    Nearby Similar for Sale

    • $325,000
      17,088 SF

      Commercial Mixed-Use Flex Building

      Multi-section building with flexible interior areas, storage, and yard space for owner-users and value-add investors.
      207 W Myles Avenue, Pennsboro, WV 26415
      View Details
    • $389,000
      2,375 SF

      Turnkey Restaurant Opportunity in Pennsboro

      Well-known restaurant with equipment included, prime location.
      305 Masonic Ave, Pennsboro, WV 26415
      View Details

    FAQs

    What type of property is this?
    Flex space - Large multi-section property with flexible interior space, yard area, and updated electrical for adaptable commercial uses.
    Where is this flex space located?
    The property is located at 207 W Myles Avenue Pennsboro, WV.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Approximately 17,088 SF multi‑section commercial/mixed‑use building at 207 Myles Avenue (Pennsboro, WV).; Sits on approximately 1.84 acres with yard area and exterior access.; County records show C‑Commercial with Mixed/Commercial land use; use types include dwelling, retail store, and multi‑use storage.
    We can help!
    Contact for Pricing
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    and status of this listing
    Terry Coatney
    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.

    More about this property
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