Flex Space with Heavy-Access
For Sale
$385,000
328 S Wickham, Princeton, WV 24740
Commercial Sale, PRINCETON, WV
Property Size6,500 SF
Lot Size1.26 Acres
Price / SF$59.23
Days on Market97
Property Features for 328 S Wickham
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Princeton
Middle school district
Princeton
High school district
Princeton
Directions
coming north on mercer st, turn right onto S Wickham Ave for about 0.2 miles. Property will be on the right.
Subdivision
Mercer
Standard status
Active
APN
0016/0032
Size
6,500 SF
Lot size
1.26 Acres
Amenities
16-foot ceilings
three-phase power
oversized doors
expansion potential
Building Details
Year built
1992
Listing Agency:
COLDWELL BANKER HENDRICK REAL ESTATE
(304) 487-5050
Listed By:
SUMMER CARTER
(681) 532-9687
Added: Jun 22
Changed: Sep 7
Last Checked: Sep 26 at 3:06AM
MLS# 57183
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.
Investment Insights
Based on property information with market context.
This 6,500-square-foot flex property, built in 1992, occupies 1.26 acres within the city limits of Princeton. The building includes 16-foot ceilings, a 40-by-50-foot retail, showroom, or waiting area, two 12-foot doors, a 9-foot door, and a 14-foot-high door. A one-ton lift and five cranes, including three-ton-capacity cranes, support operations involving large equipment and vehicles. Three-phase power is also in place.
The property combines flexible interior space with equipment-oriented access and is suited to manufacturing, automotive, warehouse, or other commercial operations. Two bathrooms are included, and the site offers room for expansion according to the property information.
The property combines flexible interior space with equipment-oriented access and is suited to manufacturing, automotive, warehouse, or other commercial operations. Two bathrooms are included, and the site offers room for expansion according to the property information.
Key Highlights
- 6,500‑square‑foot commercial building on 1.26 acres
- 16‑foot ceilings with a 40'x50' retail, showroom, or waiting area
- Two oversized 12‑foot doors, one 9‑foot door, and one 14‑ft height door
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
$31,161
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%
$623,220
$623.2K
Cap Rate 7%
$445,157
$445.2K
Cap Rate 9%
$346,233
$346.2K
Market Conditions
NOI Build-Up for 6,500 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
$39.0K $6.00/SF
− Vacancy
−$2.3K −$0.36/SF
EGI
$36.7K $5.64/SF
− OpEx
−$5.5K −$0.85/SF
NOI
$31.2K $4.79/SF
Area
Mercer County, WV
Vacancy
6.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$623,220
Cap Rate 7%
$445,157
Cap Rate 9%
$346,233
Alternative Uses
Best Use
Retail
$1.12M
$980.8K – $1.31M
NOI $78,460 @ 7.0% cap · market cap 20.38%
Second Best
Flex RnD
$586.4K
$513.1K – $684.1K
NOI $41,047 @ 7.0% cap · market cap 10.66%
Theoretical Best
Multifamily LT 5
$4.19M
$3.67M – $4.89M
NOI $293,560 @ 7.0% cap · market cap 76.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with showroom space, high ceilings, lifting equipment, and multiple doors for equipment access.
Where is this flex space located?
The property is located at 328 S Wickham Princeton, WV.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 6,500‑square‑foot commercial building on 1.26 acres; 16‑foot ceilings with a 40'x50' retail, showroom, or waiting area; Two oversized 12‑foot doors, one 9‑foot door, and one 14‑ft height door
