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    Versatile Commercial Property with Garage Title is generated by Realmo AI

    906 Lubeck Avenue, Parkersburg, WV 26101

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    Claim this Listing
    For Sale
    $199,900

    Mixed-use property with garage, excellent traffic, and vast parking.

    Type:Mixed Use
    Property size:
    2,933 SF
    Price / SF:
    $68/SF
    Added:
    Jun 28, 2024
    Days on Market:
    708
    Last Refresh:
    May 12 at 8:41 pm

    Property Features for 906 Lubeck Avenue

    General Information

    Standard status
    Active
    Size
    2,933 SF
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Geni Astorg

    Listing agent Geni Astorg

    Listing office RE/MAX Properties of the Valley

    Listing date Jun 28, 2024

    Source Xome

    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 RE/MAX Properties of the Valley

    HighLights

    • High traffic location on Dupont Rd and Lubeck Ave/Gihon Rd.
    • 2933 sq ft of finished space with three distinct areas.
    • Two garage areas with overhead heaters and oversized garage doors.
    • Front garage area includes a Mohawk heavy‑duty lift.
    • Large, newer concrete parking area in excellent condition.
    • Easy access to Rt 95/Dupont Rd via Gihon Rd Exit (Lubeck Ave).

    Overview

    This mixed-use property, totaling 2933 square feet, offers a versatile space suitable for various commercial endeavors. Constructed in three phases, the original structure comprises 1209 square feet with two office spaces and a half bath. An attached front garage area, measuring 28x26 feet, is heated with overhead heaters, features 10-foot ceilings, and includes two 9-foot high garage doors. A Mohawk heavy-duty lift remains in this section. The newest area, located at the right rear, measures 28x32 feet and is equipped with oversized garage doors, overhead heaters, water, and a half bath. The right rear garage area is currently leased monthly for car storage. A vast amount of newer concrete provides ample parking in the front. The property, previously a used car lot for numerous years, is being sold AS IS with no warranties. It benefits from a high traffic count, with over 11,000 cars per day on adjacent Dupont Road and over 6,000 cars per day on Lubeck Avenue/Gihon Road in the property vicinity, according to the WV Department of Highways. The location offers easy access off Route 95/Dupont Road at the bottom of the Gihon Road Exit (Lubeck Avenue), directly across the street. This location presents numerous possibilities.
    Location Intelligence

    Current Use by Public Records

    G & G Auto ... Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Parkersburg
    County
    Wood
    State
    West Virginia
    Longitude
    -81.5765932
    Latitude
    39.2470908

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with garage, excellent traffic, and vast parking.
    Where is this mixed-use property located?
    The property is located at 906 Lubeck Avenue Parkersburg, WV.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: High traffic location on Dupont Rd and Lubeck Ave/Gihon Rd.; 2933 sq ft of finished space with three distinct areas.; Two garage areas with overhead heaters and oversized garage doors.
    (304) 488-0698
    We can help!
    Listing Contact
    Geni Astorg
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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