Flex Space with Drive-Through
For Sale
$199,000
3974 Old Saint Marys Pike, Parkersburg, WV 26104
Insulated flex building with concrete flooring, utility service, and access doors at opposite ends.
Property Size2,500 SF
Price / SF$79.60
Days on Market10
Property Features for 3974 Old Saint Marys Pike
General Information
Standard status
Active
Size
2,500 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$485
Building Details
Buildings
1
Building Size
2,500 SF
Construction
insulated metal building
Listing Agency:
Douglass & Co Real Estate Team
(304) 615-4127
Listed By:
Debbie Douglass
(304) 615-4127
Source:
Exprealty
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 20 at 12:54PM
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 Douglass & Co Real Estate Team
Investment Insights
Based on property information with market context.
This flex-space property consists of a 50' x 50' insulated metal building with a 6-inch concrete floor and two 14-foot bay doors. The doors are positioned at opposite ends of the structure, allowing vehicles to pass through the building. Underground utilities serve the property, and the electrical system has welder capabilities.
The property is located at 3974 Old Saint Marys Pike in Parkersburg, West Virginia, with access to Route 2 North/68. Its combination of enclosed workspace, durable flooring, utility service, and through-building bay access provides a straightforward configuration for commercial or industrial operations.
The property is located at 3974 Old Saint Marys Pike in Parkersburg, West Virginia, with access to Route 2 North/68. Its combination of enclosed workspace, durable flooring, utility service, and through-building bay access provides a straightforward configuration for commercial or industrial operations.
Key Highlights
- 50' x 50' insulated metal building
- Two 14' bay doors positioned at opposite ends
- 6" concrete floor
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
$12,861
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
6.46%
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%
$257,220
$257.2K
Cap Rate 7%
$183,729
$183.7K
Cap Rate 9%
$142,900
$142.9K
Market Conditions
NOI Build-Up for 2,500 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
$16.5K $6.60/SF
− Vacancy
−$1.4K −$0.55/SF
EGI
$15.1K $6.05/SF
− OpEx
−$2.3K −$0.91/SF
NOI
$12.9K $5.14/SF
Area
Wood County, WV
Vacancy
8.30%
Lease Rate
$6.60 /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%
$257,220
Cap Rate 7%
$183,729
Cap Rate 9%
$142,900
Alternative Uses
Best Use
Flex RnD
$306.5K
$268.2K – $357.6K
NOI $21,458 @ 7.0% cap · market cap 10.78%
Second Best
Warehouse
$183.7K
$160.8K – $214.4K
NOI $12,861 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$689.1K
$603.0K – $804.0K
NOI $48,240 @ 7.0% cap · market cap 24.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 26104, WV
16,763
Population
8,351
Households
2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
37.0 sq mi
ZIP Area
453
Density / Sq Mi
$51,695
Median Household Income
$40,262
Median Earnings
$720
Median Rent
$164,600
Median Home Value
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 - Insulated flex building with concrete flooring, utility service, and access doors at opposite ends.
Where is this flex space located?
The property is located at 3974 Old Saint Marys Pike Parkersburg, WV.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 50' x 50' insulated metal building; Two 14' bay doors positioned at opposite ends; 6" concrete floor
