Secure Flex Space with Laydown
For Sale
Contact for pricing
534 VIRGINIA AVE, Fairmont, WV 26554
Flexible commercial facility combines showroom, warehouse, and secured outdoor storage.
Property Size9,700 SF
Lot Size0.75 Acres
Price / SF$70.10
Days on Market53
Property Features for 534 VIRGINIA AVE
General Information
Standard status
Active
Size
9,700 SF
Lot size
0.75 Acres
Property subtype
Retail, Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Amenities
security system
Building Details
Year Built
1976
Buildings
1
Stories
1
Building Size
9,700 SF
Listing Agency:
Black Diamond Realty
Listed By:
Mark J. Nesselroad · License #WV WV0029167
(304) 413-4350
Source:
Crexi
Added: Jul 30
Changed: Sep 20
Last Checked: Sep 20 at 7:50AM
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 Black Diamond Realty
Investment Insights
Based on property information with market context.
This 9,700-square-foot flex property, built in 1976, combines approximately 4,000 square feet of retail and showroom area with warehouse and industrial space. The improvements include an overhead drive-in door, loading dock, covered outdoor storage shed, and security system, supporting a range of commercial operations.
A remote-controlled gated entrance secures the outdoor laydown yard on approximately 0.75 acre. The property is located within Fairmont city limits and sits 1.5 miles from I-79, Exit 136, providing access to the regional transportation network while remaining in the city’s commercial corridor.
A remote-controlled gated entrance secures the outdoor laydown yard on approximately 0.75 acre. The property is located within Fairmont city limits and sits 1.5 miles from I-79, Exit 136, providing access to the regional transportation network while remaining in the city’s commercial corridor.
Key Highlights
- 9,700 (+/-) square foot flex building
- Approximately 4,000 (+/-) square feet of retail/showroom space
- 0.75 (+/-) acre site with secured laydown yard
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
$56,832
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
8.36%
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%
$1,136,640
$1.1M
Cap Rate 7%
$811,886
$811.9K
Cap Rate 9%
$631,467
$631.5K
Market Conditions
NOI Build-Up for 9,700 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
$87.3K $9.00/SF
− Vacancy
−$6.1K −$0.63/SF
EGI
$81.2K $8.37/SF
− OpEx
−$24.4K −$2.51/SF
NOI
$56.8K $5.86/SF
Area
Marion County, WV
Vacancy
7.00%
Lease Rate
$9.00 /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%
$1,136,640
Cap Rate 7%
$811,886
Cap Rate 9%
$631,467
Alternative Uses
Best Use
Retail
$2.83M
$2.48M – $3.31M
NOI $198,404 @ 7.0% cap · market cap 29.18%
Second Best
Warehouse
$985.9K
$862.6K – $1.15M
NOI $69,011 @ 7.0% cap · market cap 10.15%
Theoretical Best
Multifamily LT 5
$59.51M
$52.07M – $69.43M
NOI $4,165,691 @ 7.0% cap · market cap 612.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
886
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 26554, WV
42,133
Population
19,688
Households
2.1
Avg Household Size
40
Median Age
30%
College-Educated
94%
High-School Grad
131.9 sq mi
ZIP Area
319
Density / Sq Mi
$69,271
Median Household Income
$40,688
Median Earnings
$931
Median Rent
$181,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial facility combines showroom, warehouse, and secured outdoor storage.
Where is this flex space located?
The property is located at 534 VIRGINIA AVE Fairmont, WV.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 9,700 (+/-) square foot flex building; Approximately 4,000 (+/-) square feet of retail/showroom space; 0.75 (+/-) acre site with secured laydown yard
