Retail Space with Commercial
315 Straley Ave., Princeton, WV 24740
For Sale
$299,000
Commercial Sale, PRINCETON, WV
Property Size2,334 SF
Price / SF$128.11
Days on Market255
Property Features for 315 Straley Ave.
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Amenities
commercial kitchen
ADA bathrooms
original hardwood floors
welcoming foyer
gas fireplace
covered patio
Building Details
Year built
Listing Agency:
COLDWELL BANKER HENDRICK REAL ESTATE
(304) 487-5050
Listed By:
JEFFREY DALTON
(304) 920-4127
Added: Mar 1
Changed: Oct 22
Last Checked: Nov 10 at 5:06PM
MLS# 55858
Copyright © 2026 Mercer Tazewell Co BOR. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2334-square-foot retail property dates to 1910 and combines period character with functional commercial improvements. The interior includes a commercial kitchen, two ADA bathrooms, original hardwood floors, a foyer, and a gas fireplace. A covered patio extends the usable area, while the property also includes a separate lot across the street with utilities.
Situated along Mercer Street in downtown Princeton, the property has visibility from passing traffic and includes a substantial amount of green space for the corridor. The layout and site features support restaurant, retail, office, event, and specialty uses, with outdoor space that can accommodate parking, gatherings, or other site functions. The location is walkable to Grassroots and the Historic District.
Situated along Mercer Street in downtown Princeton, the property has visibility from passing traffic and includes a substantial amount of green space for the corridor. The layout and site features support restaurant, retail, office, event, and specialty uses, with outdoor space that can accommodate parking, gatherings, or other site functions. The location is walkable to Grassroots and the Historic District.
Key Highlights
- 2334‑square‑foot commercial property built in 1910
- Commercial kitchen with two ADA bathrooms
- Original hardwood floors, foyer, and gas fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,053
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,060
$461.1K
Cap Rate 7%
$329,329
$329.3K
Cap Rate 9%
$256,144
$256.1K
Market Conditions
NOI Build-Up for 2,334 SF
Gross rent
$32.8K $14.04/SF
− Vacancy
−$2.0K −$0.87/SF
EGI
$30.7K $13.17/SF
− OpEx
−$7.7K −$3.29/SF
NOI
$23.1K $9.88/SF
Area
Mercer County, WV
Vacancy
6.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,060
Cap Rate 7%
$329,329
Cap Rate 9%
$256,144
Alternative Uses
Best Use
Retail
$402.5K
$352.2K – $469.6K
NOI $28,173 @ 7.0% cap · market cap 9.42%
Second Best
Specialty Retail
$329.3K
$288.2K – $384.2K
NOI $23,053 @ 7.0% cap · market cap 7.71%
Theoretical Best
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,411 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
BP
Shops & Services
9,222 visits/mo
0.4 miles
AutoZone
Shops & Services
6,064 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,397 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
4,138 visits/mo
0.4 miles
Domino's Pizza
Dining
2,869 visits/mo
0.3 miles
Demographics for 24740, WV
16,238
Population
8,069
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
89%
High-School Grad
30.6 sq mi
ZIP Area
531
Density / Sq Mi
$46,272
Median Household Income
$39,867
Median Earnings
$831
Median Rent
$133,200
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The circa-1910 building offers ADA bathrooms, original hardwood floors, a covered patio, and a separate utility-served lot.
Where is this retail space located?
The property is located at 315 Straley Ave. Princeton, WV.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2334‑square‑foot commercial property built in 1910; Commercial kitchen with two ADA bathrooms; Original hardwood floors, foyer, and gas fireplace
