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    1001 6Th Ave Huntington, WV 25701

    Sponsored
    For Lease
    $37 SF/Yr

    Huntington office space, prime location.

    Lot size:
    13,215 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    The McGuire Office Center, located at 1001 6th Ave in Huntington, West Virginia, presents a compelling opportunity for businesses seeking established office space. This two-story, 13,215 square foot building, constructed in 1975 and renovated in 2020, offers a blend of classic charm and modern functionality. Currently configured with eight suites, the building boasts 209 square feet of immediately available space, with potential for expansion up to the full 13,215 square feet. Features include a reception area, multiple private offices, a kitchen, a private courtyard, a bookkeeping room, storage space, private parking, and restrooms. The building's brick and masonry construction reflects its Class B designation. Its convenient location offers easy access to Cabell Huntington Hospitals, Marshall University, and Marshall Medical School, as well as established residential areas, downtown business centers, restaurants, and retail amenities. The B-1 zoning makes it suitable for a variety of uses, including but not limited to business offices, insurance agencies, sports medicine practices, and medical records management. This property presents a unique opportunity for businesses seeking a well-maintained, conveniently located office space in a thriving West Virginia community. The building is situated in Cabell County, zip code 25701.

    Property Features for 1001 6Th Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,215 SF
    Total Rate
    41098.65

    Building Details

    Year Built/Renovated
    1975/2020
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    210 SF
    Rate per SF
    $37

    HighLights

    • 13,215 SF two‑story office building in Huntington, WV.
    • Renovated in 2020, offering eight suites and 209 SF of immediately available space.
    • Features include a reception area, private offices, kitchen, courtyard, and private parking.
    • Class B building with B‑1 zoning, ideal for various office uses.
    • Convenient location near hospitals, university, and downtown amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    B. Luke Styer, ... Attorney Carteret Title LLC Title Company McGuire Realty Company, ... Real Estate Agency Josh Butcher, REALTOR Real Estate Agent Aspire Occupation Rehab ... Psychologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntington
    County
    Cabell
    State
    West Virginia
    Longitude
    -82.441167754684
    Latitude
    38.41834977646

    Nearby Comparable

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    Nearby Similar for Lease

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    FAQs

    What type of property is this?
    Office Property / Space - Huntington office space, prime location.
    Where is this office property / space located?
    The property is located at 1001 6Th Ave Huntington, WV.
    What is the lease rate?
    The lease rate is $37 SF/Yr.
    What are key features of this property?
    This property features: 13,215 SF two-story office building in Huntington, WV.; Renovated in 2020, offering eight suites and 209 SF of immediately available space.; Features include a reception area, private offices, kitchen, courtyard, and private parking.
    Request Owner's contact information
    1001 6Th Ave Huntington, WV 25701
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    Huntington, WV 25701
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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.

    More about this property
    1001 6Th Ave Huntington, WV 25701
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