First-Floor Medical Office
For Sale
Contact for pricing
433 Carriage Dr, Beckley, WV 25801
First-floor medical office condo leased under a triple net structure through 2035.
Property Size3,845 SF
Price / SF$286.09
Days on Market167
Property Features for 433 Carriage Dr
General Information
Standard status
Active
Size
3,845 SF
Property subtype
Office
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Units
1
Tenancy
Single
Listing Agency:
MECA Commercial Real Estate
Listed By:
Bryce Estridge · License #NC 323951
(704) 975-6028
Source:
Crexi
Added: Mar 25
Changed: Sep 2
Last Checked: Sep 7 at 7:34AM
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 MECA Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,845 SF first-floor medical office condo is available for sale as part of a triple net lease structure. The space is configured for medical use and is occupied by Mt. State Oral & Facial Surgery, which is committed through 2035.
The property is located at 433 Carriage Dr in Beckley, West Virginia. Mt. State Oral & Facial Surgery operates nine locations across West Virginia, Kentucky, and Virginia.
For investors, this condo is presented as a stable income asset with long-term tenant commitment through 2035.
The property is located at 433 Carriage Dr in Beckley, West Virginia. Mt. State Oral & Facial Surgery operates nine locations across West Virginia, Kentucky, and Virginia.
For investors, this condo is presented as a stable income asset with long-term tenant commitment through 2035.
Key Highlights
- 3,845 SF first‑floor medical office condo in Beckley, WV
- Leased under a triple net (NNN) structure through 2035
- Backed by Mt. State Oral & Facial Surgery, operating nine locations across WV, KY, and VA
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
$41,526
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
3.78%
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%
$830,520
$830.5K
Cap Rate 7%
$593,229
$593.2K
Cap Rate 9%
$461,400
$461.4K
Market Conditions
NOI Build-Up for 3,845 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
$69.2K $18.00/SF
− Vacancy
−$13.8K −$3.60/SF
EGI
$55.4K $14.40/SF
− OpEx
−$13.8K −$3.60/SF
NOI
$41.5K $10.80/SF
Area
Raleigh County, WV
Vacancy
20.00%
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%
$830,520
Cap Rate 7%
$593,229
Cap Rate 9%
$461,400
Alternative Uses
Best Use
Office B
$593.2K
$519.1K – $692.1K
NOI $41,526 @ 7.0% cap · market cap 3.78%
Second Best
Healthcare Medical
$513.2K
$449.1K – $598.8K
NOI $35,927 @ 7.0% cap · market cap 3.27%
Theoretical Best
Multifamily LT 5
$2.27M
$1.98M – $2.64M
NOI $158,590 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 25801, WV
31,369
Population
15,185
Households
2.1
Avg Household Size
43
Median Age
23%
College-Educated
88%
High-School Grad
99.1 sq mi
ZIP Area
317
Density / Sq Mi
$49,370
Median Household Income
$35,314
Median Earnings
$842
Median Rent
$151,000
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?
Medical Office Space - First-floor medical office condo leased under a triple net structure through 2035.
Where is this medical office space located?
The property is located at 433 Carriage Dr Beckley, WV.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,845 SF first‑floor medical office condo in Beckley, WV; Leased under a triple net (NNN) structure through 2035; Backed by Mt. State Oral & Facial Surgery, operating nine locations across WV, KY, and VA
