Updated Office Building with
For Sale
$1,240,000
400 Parkway Rd, South Charleston, WV 25301
Multiple offices, a kitchen, and a high-ceilinged open room provide a flexible commercial layout.
Property Size6,243 SF
Price / SF$198.62
Days on Market500
Property Features for 400 Parkway Rd
General Information
Standard status
Active
Size
6,243 SF
Taxes and HOA fees
Annual Taxes
$18,027
Amenities
kitchen
high ceilings
generator
Listing Agency:
Old Colony
(304) 741-1400
Listed By:
Drema Davis · License #0020927
(304) 741-1400
Source:
Exprealty
Added: Apr 21, 2025
Changed: Aug 31
Last Checked: Aug 31 at 6:23PM
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 Old Colony
Investment Insights
Based on property information with market context.
This 6,243-square-foot office building includes multiple enclosed office rooms, a kitchen, and a substantial open area with high ceilings. Updates have been completed within the last 5 years, and the property includes a large generator capable of maintaining full electric service during a power loss.
The property is located at 400 Parkway Rd in South Charleston, beside Cabellas and near restaurants and shops in the Southridge Corridor G. Its combination of private rooms, shared support space, open volume, and backup power creates a practical office configuration for a range of business operations.
The property is located at 400 Parkway Rd in South Charleston, beside Cabellas and near restaurants and shops in the Southridge Corridor G. Its combination of private rooms, shared support space, open volume, and backup power creates a practical office configuration for a range of business operations.
Key Highlights
- 6,243 SF office building with multiple office rooms
- Large open room with high ceilings
- Kitchen included in the building layout
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
$65,739
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
5.30%
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%
$1,314,780
$1.3M
Cap Rate 7%
$939,129
$939.1K
Cap Rate 9%
$730,433
$730.4K
Market Conditions
NOI Build-Up for 6,243 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
$112.4K $18.00/SF
− Vacancy
−$24.7K −$3.96/SF
EGI
$87.7K $14.04/SF
− OpEx
−$21.9K −$3.51/SF
NOI
$65.7K $10.53/SF
Area
Kanawha County, WV
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,314,780
Cap Rate 7%
$939,129
Cap Rate 9%
$730,433
Alternative Uses
Best Use
Office B
$939.1K
$821.7K – $1.10M
NOI $65,739 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,372 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 25301, WV
2,908
Population
1,640
Households
1.8
Avg Household Size
47
Median Age
29%
College-Educated
83%
High-School Grad
1.3 sq mi
ZIP Area
2,237
Density / Sq Mi
$21,063
Median Household Income
$28,466
Median Earnings
$488
Median Rent
$188,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multiple offices, a kitchen, and a high-ceilinged open room provide a flexible commercial layout.
Where is this office building located?
The property is located at 400 Parkway Rd South Charleston, WV.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: 6,243 SF office building with multiple office rooms; Large open room with high ceilings; Kitchen included in the building layout
