Charleston Office Building For
For Sale
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4701 Maccorkle Ave SE, Charleston, WV
Two-story office building in Kanawha City, Charleston.
Property Size13,635 SF
Lot Size0.52 Acres
Price / SF$117.35
Days on Market664
Property Features for 4701 Maccorkle Ave SE
General Information
Standard status
Active
Size
13,635 SF
Lot size
0.52 Acres
Property subtype
OFFICE
Listing Agency:
Goldman Associates, Inc.
(304) 343-5695
Listed By:
Todd Goldman · License #WV0015391
(304) 343-5695
Source:
Moodyscre
Added: Oct 17, 2024
Changed: Jul 6
Last Checked: Aug 10 at 3:03AM
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 Goldman Associates, Inc.
Investment Insights
Based on property information with market context.
Located at the southeast corner of MacCorkle Avenue and 47th Street in the Kanawha City section of Charleston, this two-story general office building was constructed in 1980. The building, featuring a brick exterior and a flat roof system, offers good quality finishes. Originally a medical office, it was converted to general office space. The property is zoned R-O, Residential Office District, and includes onsite parking for 50 vehicles. Significant renovations were completed in 2011 and 2021, which included updated flooring, lighting, ceiling tile, cosmetic improvements, technological features, safety features and HVAC. These renovations also included some redesign of the building layout. Previously occupied by the State of West Virginia and a private counseling service, the 13,635 square foot building could be adapted to general or medical office space.
Key Highlights
- Significant renovations in 2011 and 2021 including updated flooring, lighting, ceiling tile, cosmetic improvements, technological features, safety features and HVAC.
- Adaptable to general or medical office space.
- Onsite parking for 50 vehicles.
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
$143,577
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
8.97%
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%
$2,871,540
$2.9M
Cap Rate 7%
$2,051,100
$2.1M
Cap Rate 9%
$1,595,300
$1.6M
Market Conditions
NOI Build-Up for 13,635 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
$245.4K $18.00/SF
− Vacancy
−$54.0K −$3.96/SF
EGI
$191.4K $14.04/SF
− OpEx
−$47.9K −$3.51/SF
NOI
$143.6K $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%
$2,871,540
Cap Rate 7%
$2,051,100
Cap Rate 9%
$1,595,300
Alternative Uses
Best Use
Office B
$2.05M
$1.79M – $2.39M
NOI $143,577 @ 7.0% cap · market cap 8.97%
Second Best
Healthcare Medical
$1.92M
$1.68M – $2.23M
NOI $134,093 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,481 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,710
Businesses Nearby
Explore this area
Business Placement
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 - Two-story office building in Kanawha City, Charleston.
Where is this office building located?
The property is located at 4701 Maccorkle Ave SE Charleston, WV.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Significant renovations in 2011 and 2021 including updated flooring, lighting, ceiling tile, cosmetic improvements, technological features, safety features and HVAC.; Adaptable to general or medical office space.; Onsite parking for 50 vehicles.
