1.5-Story Restaurant
For Sale
$165,000
218 3rd Avenue, Saint Albans, WV 25177
SINGLE_FAMILY - St Albans, WV
Property Size1,352 SF
Lot Size0.16 Acres
Price / SF$122.04
Days on Market104
Property Features for 218 3rd Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
NEC
Lot features
Less Than One Acre, Historic District, Level
Directions
Saint Albans to 3rd Avenue (next to Tim Hortons & CVS).
Subdivision
Saint Albans
Standard status
Active
APN
17-0001-0155-0000-0000
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LTS 15-16 BK 19
Tax Annual Amount
587
Legal Description
LTS 15-16 BK 19
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Flooring type
Hardwood, Vinyl
Building materials
Block, Drywall
Roof type
Composition, Shingle
Listing Agency:
Old Colony
(304) 757-3434
Listed By:
Drema Davis · License #0020927
(304) 741-1400
Added: May 8
Changed: Aug 2
Last Checked: Aug 19 at 11:06AM
MLS# 283390
Copyright © 2026 Kanawha Valley Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1.5-story building is offered “As Is” and is currently occupied as a turnkey restaurant and catering service. The interior layout includes three bedrooms, with the main level and loft upstairs, and provides 1.5 baths. The home totals 1,352 SF, with construction materials reported as block and drywall, flooring of hardwood and vinyl, and forced air heating with natural gas. Cooling is provided by central air with electric cooling. The roof is described as composition and shingle, with public water and public sewer services.
The property is located next to Tim Hortons and State Farm, with a bus stop on 2nd Avenue. The site is zoned H-1, and the buyer would need to apply with the city for a special use permit to establish residential status. The listing notes conventional commercial or cash offers may apply and that banks may view the property as commercial for lending purposes.
Zoned as provided, this configuration may align with buyers seeking a restaurant or commercial kitchen setup, as well as those evaluating alternative uses such as hair salon or retail store (subject to applicable approvals).
The property is located next to Tim Hortons and State Farm, with a bus stop on 2nd Avenue. The site is zoned H-1, and the buyer would need to apply with the city for a special use permit to establish residential status. The listing notes conventional commercial or cash offers may apply and that banks may view the property as commercial for lending purposes.
Zoned as provided, this configuration may align with buyers seeking a restaurant or commercial kitchen setup, as well as those evaluating alternative uses such as hair salon or retail store (subject to applicable approvals).
Key Highlights
- Occupied turnkey restaurant and catering service
- Zoned H‑1; special use permit application required for residential status
- 1,352 SF 1.5‑story building with three bedrooms and 1.5 baths
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
$14,571
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
8.83%
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%
$291,420
$291.4K
Cap Rate 7%
$208,157
$208.2K
Cap Rate 9%
$161,900
$161.9K
Market Conditions
NOI Build-Up for 1,352 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
$20.3K $15.00/SF
− Vacancy
−$852 −$0.63/SF
EGI
$19.4K $14.37/SF
− OpEx
−$4.9K −$3.59/SF
NOI
$14.6K $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%
$291,420
Cap Rate 7%
$208,157
Cap Rate 9%
$161,900
Alternative Uses
Best Use
Specialty Retail
$208.2K
$182.1K – $242.9K
NOI $14,571 @ 7.0% cap · market cap 8.83%
Second Best
Industrial
$96.5K
$84.4K – $112.6K
NOI $6,754 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$298.2K
$260.9K – $347.9K
NOI $20,871 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
223k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 31%
Groceries 15%
Apparel 3%
Kroger
Groceries
32,536 visits/mo
0.3 miles
McDonald's
Dining
25,950 visits/mo
0.4 miles
Wendy's
Dining
16,581 visits/mo
0.1 miles
Taco Bell
Dining
15,242 visits/mo
0.1 miles
GoMart
Shops & Services
11,701 visits/mo
0.2 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 - Occupied, turnkey restaurant and catering use on a H-1 zoned site with public water and sewer.
Where is this conventional restaurant located?
The property is located at 218 3rd Avenue Saint Albans, WV.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Occupied turnkey restaurant and catering service; Zoned H‑1; special use permit application required for residential status; 1,352 SF 1.5‑story building with three bedrooms and 1.5 baths
