Building Details

Year built 1960

Listing Agency: TRANSCEND REALTY Show Phone

Listed By: Brian Brown · License #WVB240301004 Show Phone

Added: Sep 8 Last Checked: Sep 9 at 8:06AM

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MLS# 95496

Copyright © 2026 Beckley 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.

The property at 2621 Ritter Drive combines a gas station and convenience-store operation with residential rental improvements. The residential component includes an apartment connected to the commercial building, a separate three-bedroom apartment, and three single-wide mobile homes. Two residential units are occupied and generating rental income, while additional mobile homes provide renovation opportunities.

The property encompasses 1.59 acres and includes 2,336 square feet of building area. Constructed in 1960, it is located in Shady Spring, Raleigh County, West Virginia. The broader offering also includes a second commercial property at 1707 Flat Top Road in Cool Ridge, where an established convenience-store location is paired with a separately leased commercial building.

Key Highlights

• Gas station and convenience‑store operation at 2621 Ritter Drive
• 1.59‑acre property with 2,336 square feet of building area
• Attached apartment and detached three‑bedroom apartment

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

$85,743

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

6.12%

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%

$1,714,860 $1.7M

Cap Rate 7%

$1,224,900 $1.2M

Cap Rate 9%

$952,700 $952.7K

Market Conditions

NOI Build-Up for 2,336 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

$167.6K $71.76/SF

− Vacancy

−$11.7K −$5.02/SF

EGI

$155.9K $66.74/SF

− OpEx

−$70.2K −$30.03/SF

NOI

$85.7K $36.71/SF

Area

Raleigh County, WV

Vacancy

7.00%

Lease Rate

$71.76 /SF/Yr

Expense Ratio

45.00%

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%

$1,714,860

Cap Rate 7%

$1,224,900

Cap Rate 9%

$952,700

Alternative Uses

Best Use

Apartment 5plus

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,743 @ 7.0% cap · market cap 6.12%

Second Best

Retail

$321.3K

$281.2K – $374.9K (±1% cap)

NOI $22,492 @ 7.0% cap · market cap 1.61%

Theoretical Best

Multifamily LT 5

$1.38M

$1.20M – $1.61M (±1% cap)

NOI $96,350 @ 7.0% cap · market cap 6.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quick Check No ... Gas Station Tax Prep Deborah ... Tax Preparation

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store HVAC Service Electrical Service Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Turnkey business

Opportunity

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

56

Businesses Nearby

Explore this area Business Placement

Demographics for 25918, WV

4,517

Population

1,880

Households

2.4

Avg Household Size

43

Median Age

25%

College-Educated

94%

High-School Grad

62.9 sq mi

ZIP Area

72

Density / Sq Mi

$76,845

Median Household Income

$41,459

Median Earnings

$938

Median Rent

$185,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this gas stations located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Gas station - Gas station and convenience-store property with attached and detached residential accommodations plus additional mobile homes.

Where is this gas station located?

The property is located at 2621 Ritter Drive Shady Spring, WV.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Gas station and convenience‑store operation at 2621 Ritter Drive; 1.59‑acre property with 2,336 square feet of building area; Attached apartment and detached three‑bedroom apartment