Drive-Through Restaurant
New
For Sale
$799,000
741 W Washington Street, Charleston, WV 25302
Freestanding layout includes indoor dining, a service counter, dedicated parking, and existing restaurant infrastructure.
Property Size3,078 SF
Price / SF$259.58
Days on Market7
Property Features for 741 W Washington Street
General Information
Standard status
Active
Size
3,078 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$15,542
Amenities
Central Air, Gas
3
Tile
Flat
Parking.
On Site, Off Street.
0x0x0x0
Street Lights, Sidewalks.
Building Details
Year Built
2010
Stories
1
Listing Agency:
Better Homes and Gardens Real Estate Central
(304) 545-6364
Listed By:
Christina DiFilippo · License #0027337
(304) 545-6364
Source:
Xome
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 21 at 4:47AM
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 Better Homes and Gardens Real Estate Central
Investment Insights
Based on property information with market context.
This 3,078-square-foot freestanding restaurant building at 741 W Washington Street includes an indoor dining area, service counter, drive-through lane, restrooms, and dedicated prep and storage areas. Built in 2010, the property has central air, gas service, tile flooring, and walk-in cooler and freezer units. Commercial kitchen equipment has been removed, while the hood system area, plumbing, and gas lines remain in place.
The site provides on-site, off-street parking along with sidewalks and street lights. Its existing restaurant layout and back-of-house infrastructure support continued food-service use or reconfiguration for another commercial purpose, subject to applicable requirements.
The site provides on-site, off-street parking along with sidewalks and street lights. Its existing restaurant layout and back-of-house infrastructure support continued food-service use or reconfiguration for another commercial purpose, subject to applicable requirements.
Key Highlights
- 3,078‑square‑foot freestanding restaurant building constructed in 2010
- Existing drive‑through lane, indoor dining area, service counter, and restrooms
- Commercial kitchen equipment removed; hood area, plumbing, and gas lines remain
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
$33,173
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
4.15%
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%
$663,460
$663.5K
Cap Rate 7%
$473,900
$473.9K
Cap Rate 9%
$368,589
$368.6K
Market Conditions
NOI Build-Up for 3,078 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
$46.2K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$44.2K $14.37/SF
− OpEx
−$11.1K −$3.59/SF
NOI
$33.2K $10.78/SF
Area
Kanawha County, WV
Vacancy
4.20%
Lease Rate
$15.00 /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%
$663,460
Cap Rate 7%
$473,900
Cap Rate 9%
$368,589
Alternative Uses
Best Use
Specialty Retail
$473.9K
$414.7K – $552.9K
NOI $33,173 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$678.8K
$593.9K – $791.9K
NOI $47,514 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 25302, WV
14,307
Population
7,676
Households
1.9
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
12.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$55,525
Median Household Income
$33,488
Median Earnings
$875
Median Rent
$148,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding layout includes indoor dining, a service counter, dedicated parking, and existing restaurant infrastructure.
Where is this drive through restaurant located?
The property is located at 741 W Washington Street Charleston, WV.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,078‑square‑foot freestanding restaurant building constructed in 2010; Existing drive‑through lane, indoor dining area, service counter, and restrooms; Commercial kitchen equipment removed; hood area, plumbing, and gas lines remain
