Renovated Storefront
For Sale
$499,000
3624 Maccorkle Ave Se, Charleston, WV 25303
Three-level commercial property offers flexible retail, office, and industrial use with on-site parking and rear-floor access.
Property Size9,000 SF
Price / SF$55.44
Days on Market133
Property Features for 3624 Maccorkle Ave Se
General Information
Standard status
Active
Size
9,000 SF
Total Parking Spaces
19
Taxes and HOA fees
Annual Taxes
$5,910
Building Details
Buildings
1
Stories
3
Listing Agency:
RE/MAX Clarity
(304) 610-4523
Listed By:
Marlein Habash · License #0020896
(304) 610-4523
Source:
Exprealty
Added: Mar 27
Changed: Aug 2
Last Checked: Aug 2 at 8:21AM
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 RE/MAX Clarity
Investment Insights
Based on property information with market context.
This recently renovated storefront property contains approximately 9,000 square feet arranged across three floors, with about 3,000 square feet per level. Commercial zoning supports retail, office, and industrial uses, giving the building a flexible configuration for an owner-user or multiple occupants. Each floor can also be reached from the rear alley, supporting separate access between levels.
The property fronts MacCorkle Avenue in Kanawha City, within Charleston’s business district. On-site parking includes seven spaces at the front and 12 additional spaces behind the building. The combination of avenue frontage, rear access, and a multi-floor layout creates a practical commercial setting for varied operations.
The property fronts MacCorkle Avenue in Kanawha City, within Charleston’s business district. On-site parking includes seven spaces at the front and 12 additional spaces behind the building. The combination of avenue frontage, rear access, and a multi-floor layout creates a practical commercial setting for varied operations.
Key Highlights
- Approximately 9,000 SF across three floors
- Approximately 3,000 SF on each floor
- Recently renovated commercial building
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
$44,963
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
9.01%
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%
$899,260
$899.3K
Cap Rate 7%
$642,329
$642.3K
Cap Rate 9%
$499,589
$499.6K
Market Conditions
NOI Build-Up for 9,000 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
$70.2K $7.80/SF
− Vacancy
−$6.0K −$0.66/SF
EGI
$64.2K $7.14/SF
− OpEx
−$19.3K −$2.14/SF
NOI
$45.0K $5.00/SF
Area
Kanawha County, WV
Vacancy
8.50%
Lease Rate
$7.80 /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%
$899,260
Cap Rate 7%
$642,329
Cap Rate 9%
$499,589
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,770 @ 7.0% cap · market cap 18.99%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $86,910 @ 7.0% cap · market cap 17.42%
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,931 @ 7.0% cap · market cap 27.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 25303, WV
6,946
Population
3,558
Households
2
Avg Household Size
42
Median Age
46%
College-Educated
98%
High-School Grad
3.6 sq mi
ZIP Area
1,929
Density / Sq Mi
$73,975
Median Household Income
$43,625
Median Earnings
$1,036
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Storefront property - Three-level commercial property offers flexible retail, office, and industrial use with on-site parking and rear-floor access.
Where is this storefront property located?
The property is located at 3624 Maccorkle Ave Se Charleston, WV.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 9,000 SF across three floors; Approximately 3,000 SF on each floor; Recently renovated commercial building
