Remodeled Multi-Storefront Retail
For Sale
$2,999,999
317 Virginia Avenue, Bridgeport, WV 26330
Mixed-use retail building with six leased spaces and a paved lot with approximately 100 parking spots.
Property Size23,958 SF
Lot Size2.98 Acres
Price / SF$125.22
Days on Market566
Property Features for 317 Virginia Avenue
General Information
Standard status
Active
Size
23,958 SF
Total Parking Spaces
100
Lot size
2.98 Acres
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$32,642
Amenities
Central Air
3
Tile, Ceramic Tile, Vinyl, Concrete, Other, Laminate
Rubber
Parking.
Paved Driveway, Lot.
Level
Irreg
In City, State Road, US Highway, Level.
Building Details
Year Built
1994
Tenancy
Multi
Listing Agency:
BEL-CROSS PROPERTIES, LLC
(304) 685-9287
Listed By:
Destiny Sylvester · License #WVS190300676
(304) 685-9287
Source:
Xome
Added: Jan 22, 2025
Changed: Aug 7
Last Checked: Aug 11 at 5:09AM
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 BEL-CROSS PROPERTIES, LLC
Investment Insights
Based on property information with market context.
317 S Virginia Avenue, also known as The Square, is a commercial building offering six leased spaces, including five leased storefront spaces and one commercial space in the back. The property sits on 2.98 acres and includes a nicely paved lot with approximately 100 parking spaces, supporting straightforward customer access.
The building has undergone a complete remodel on both the interior and exterior. Two new rubber roofs are less than 5 years old, providing more current building maintenance for a new owner.
The buyer also has the opportunity to work with the city for future development on the parcel, adding flexibility to the property’s long-term use.
The building has undergone a complete remodel on both the interior and exterior. Two new rubber roofs are less than 5 years old, providing more current building maintenance for a new owner.
The buyer also has the opportunity to work with the city for future development on the parcel, adding flexibility to the property’s long-term use.
Key Highlights
- Mixed‑use retail building with 6 leased spaces: 5 leased storefront spaces plus 1 commercial space in the back
- 2.98‑acre lot with approx. 100 paved parking spaces
- Complete interior and exterior remodel; Year built 1994
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
$157,375
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
5.25%
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%
$3,147,500
$3.1M
Cap Rate 7%
$2,248,214
$2.2M
Cap Rate 9%
$1,748,611
$1.7M
Market Conditions
NOI Build-Up for 23,958 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
$244.4K $10.20/SF
− Vacancy
−$19.5K −$0.82/SF
EGI
$224.8K $9.38/SF
− OpEx
−$67.4K −$2.82/SF
NOI
$157.4K $6.57/SF
Area
Harrison County, WV
Vacancy
8.00%
Lease Rate
$10.20 /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%
$3,147,500
Cap Rate 7%
$2,248,214
Cap Rate 9%
$1,748,611
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,375 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.74M
$4.15M – $5.53M
NOI $331,825 @ 7.0% cap · market cap 11.06%
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
473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 26330, WV
15,887
Population
6,912
Households
2.3
Avg Household Size
43
Median Age
45%
College-Educated
95%
High-School Grad
70.7 sq mi
ZIP Area
225
Density / Sq Mi
$86,843
Median Household Income
$53,328
Median Earnings
$1,101
Median Rent
$260,900
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?
Shopping center - Mixed-use retail building with six leased spaces and a paved lot with approximately 100 parking spots.
Where is this shopping center located?
The property is located at 317 Virginia Avenue Bridgeport, WV.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Mixed‑use retail building with 6 leased spaces: 5 leased storefront spaces plus 1 commercial space in the back; 2.98‑acre lot with approx. 100 paved parking spaces; Complete interior and exterior remodel; Year built 1994
