Multi-Tenant Retail
For Sale
$2,000,000
2777 Pennsylvania Avenue, Charleston, WV 25302
Four tenants occupy the property under month-to-month agreements, supporting flexible leasing decisions.
Property Size16,749 SF
Price / SF$119.41
Days on Market200
Property Features for 2777 Pennsylvania Avenue
General Information
Standard status
Active
Size
16,749 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,575
Amenities
Central Air, Electric, Heat Pump
3
Tile, Vinyl, Carpet
Composition, Shingle
Parking.
Off Street, Gravel, On Site.
410x458x198x300
Sidewalks. Easements.
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
(304) 346-0300
Listed By:
Berkshire Hathaway Home Services Professional Real
(304) 549-7138
Source:
Xome
Added: Feb 14
Changed: Sep 2
Last Checked: Sep 1 at 4:25PM
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 Berkshire Hathaway Home Services Professional Real
Investment Insights
Based on property information with market context.
This retail property contains 16,749 square feet and is currently occupied by four tenants with month-to-month agreements. The flexible tenancy structure may accommodate changes in leasing strategy, subject to applicable requirements. Interior features include central air, electric heat-pump systems, and a mix of tile, vinyl, and carpet flooring. The building was constructed in 1980.
The property is outside Charleston city limits at 2777 Pennsylvania Avenue in Charleston, West Virginia, with direct access from Exit 1 of I-79. On-site parking is provided, including off-street and gravel areas. The site measures 410x458x198x300, includes sidewalks and easements, and may support redevelopment or an alternative use subject to county zoning.
The property is outside Charleston city limits at 2777 Pennsylvania Avenue in Charleston, West Virginia, with direct access from Exit 1 of I-79. On-site parking is provided, including off-street and gravel areas. The site measures 410x458x198x300, includes sidewalks and easements, and may support redevelopment or an alternative use subject to county zoning.
Key Highlights
- 16,749‑square‑foot retail property built in 1980
- Four tenants occupy the property on month‑to‑month agreements
- Directly off Exit 1 of I‑79 in Charleston, WV
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
$161,739
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
8.09%
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%
$3,234,780
$3.2M
Cap Rate 7%
$2,310,557
$2.3M
Cap Rate 9%
$1,797,100
$1.8M
Market Conditions
NOI Build-Up for 16,749 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
$241.2K $14.40/SF
− Vacancy
−$10.1K −$0.60/SF
EGI
$231.1K $13.80/SF
− OpEx
−$69.3K −$4.14/SF
NOI
$161.7K $9.66/SF
Area
Kanawha County, WV
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$3,234,780
Cap Rate 7%
$2,310,557
Cap Rate 9%
$1,797,100
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.70M
NOI $161,739 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,551 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 25302, WV
14,307
Population
7,676
Households
1.9
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
12.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$55,525
Median Household Income
$33,488
Median Earnings
$875
Median Rent
$148,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Four tenants occupy the property under month-to-month agreements, supporting flexible leasing decisions.
Where is this retail space located?
The property is located at 2777 Pennsylvania Avenue Charleston, WV.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 16,749‑square‑foot retail property built in 1980; Four tenants occupy the property on month‑to‑month agreements; Directly off Exit 1 of I‑79 in Charleston, WV
