Listing Agency: KAUFMAN REALTY AND AUCTIONS Show Phone

Listed By: Clifford Webb Show Phone

Source: Exprealty

Added: Apr 30 Changed: Aug 20 Last Checked: Aug 21 at 10:43AM

Report an Issue

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 KAUFMAN REALTY AND AUCTIONS

Investment Insights

Based on property information with market context.

This property features a former pizza shop space that is currently leased, but the tenant is in the process of vacating, offering flexibility for a new owner or tenant. An additional building previously used as a tire shop is also included, along with a separate storage structure. The property offers multiple potential income streams or redevelopment options. It is located in close proximity to the local college campus and has high visibility. The property is suitable for retail, service, or mixed-use purposes. The property size is 1064 square feet.

Key Highlights

• High visibility location near a college campus.
• Multiple potential income streams from existing buildings.
• Flexibility for owner‑user or new tenant in the former pizza shop space.

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

$6,989

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

4.66%

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%

$139,780 $139.8K

Cap Rate 7%

$99,843 $99.8K

Cap Rate 9%

$77,656 $77.7K

Market Conditions

NOI Build-Up for 1,064 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

$10.9K $10.20/SF

− Vacancy

−$868 −$0.82/SF

EGI

$10.0K $9.38/SF

− OpEx

−$3.0K −$2.82/SF

NOI

$7.0K $6.57/SF

Area

Harrison County, WV

Vacancy

8.00%

Lease Rate

$10.20 /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%

$139,780

Cap Rate 7%

$99,843

Cap Rate 9%

$77,656

Alternative Uses

Best Use

Retail

$99.8K

$87.4K – $116.5K (±1% cap)

NOI $6,989 @ 7.0% cap · market cap 4.66%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$210.5K

$184.2K – $245.6K (±1% cap)

NOI $14,737 @ 7.0% cap · market cap 9.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail properties & Spaces

Suggested Use

Top Pick Parking Lot & Garage Building Supply HVAC Service Law Firm Pharmacy Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

152

Businesses Nearby

24k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Groceries 28% Home Improvements & Furnishings 11% Dining 3%

Salem Shop 'n Save Express IGA Groceries

6,721 visits/mo 0.3 miles

Dollar General Shops & Services

5,498 visits/mo 0.1 miles

7-Eleven Shops & Services

3,156 visits/mo 0.2 miles

Ace Hardware Home Improvements & Furnishings

2,747 visits/mo 0.1 miles

BP Shops & Services

2,491 visits/mo 0.2 miles

Demographics for 26426, WV

6,849

Population

2,991

Households

2.3

Avg Household Size

42

Median Age

19%

College-Educated

87%

High-School Grad

136.4 sq mi

ZIP Area

50

Density / Sq Mi

$52,009

Median Household Income

$37,538

Median Earnings

$563

Median Rent

$117,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail properties & spaces located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Retail property - Versatile property with retail, auto shop, and storage spaces.

Where is this retail property located?

The property is located at 64 & 66 Valley St Salem, WV.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: High visibility location near a college campus.; Multiple potential income streams from existing buildings.; Flexibility for owner‑user or new tenant in the former pizza shop space.