Fairmont Gas Station For
For Sale
Contact for pricing
414 Corbin Pl, Fairmont, WV 26554
Gas/service station with building and residential houses in downtown Fairmont.
Property Size1,997 SF
Lot Size0.82 Acres
Price / SF$425.14
Days on Market976
Property Features for 414 Corbin Pl
General Information
Standard status
Active
Size
1,997 SF
Lot size
0.82 Acres
Property subtype
Retail
Zoning
CC-City Center
Listing Agency:
Black Diamond Realty
Listed By:
Mark J. Nesselroad · License #WV WV0029167
(304) 413-4350
Source:
Crexi
Added: Jan 3, 2024
Changed: Aug 23
Last Checked: Sep 4 at 4:07PM
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.
The property at 414 Corbin Place, Fairmont, WV, formerly used as a gas/service station, includes a 1,997 square foot building on a 0.815 acre lot. In addition to the main gas station building, there are two residential houses and a storage building on the property. The residential houses would require demolition. The gas station tanks and pumps were replaced in Spring 2018. The property is located in the downtown area of Fairmont, within the city limits and within walking distance to many amenities. The immediate area offers restaurants, retail, service businesses, motels, and convenience stores. The building is positioned roughly 1.2 miles from I-79, Exit 136. Along Jackson Street, the daily traffic count is 8,718 vehicles per day, according to Esri and Kalibrate Technologies 2023 data.
Key Highlights
- Convenient location in bustling downtown Fairmont with walking distance to many amenities.
- Relatively new gas station tanks and pumps, replaced in Spring 2018.
- High daily traffic count of 8,718 vehicles on Jackson Street.
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
$40,847
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
4.81%
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%
$816,940
$816.9K
Cap Rate 7%
$583,529
$583.5K
Cap Rate 9%
$453,856
$453.9K
Market Conditions
NOI Build-Up for 1,997 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
$59.9K $30.00/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$58.4K $29.22/SF
− OpEx
−$17.5K −$8.77/SF
NOI
$40.8K $20.45/SF
Area
Marion County, WV
Vacancy
2.60%
Lease Rate
$30.00 /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%
$816,940
Cap Rate 7%
$583,529
Cap Rate 9%
$453,856
Alternative Uses
Best Use
Retail
$583.5K
$510.6K – $680.8K
NOI $40,847 @ 7.0% cap · market cap 4.81%
Second Best
Specialty Retail
$277.0K
$242.3K – $323.1K
NOI $19,387 @ 7.0% cap · market cap 2.28%
Theoretical Best
Multifamily LT 5
$12.25M
$10.72M – $14.29M
NOI $857,617 @ 7.0% cap · market cap 101.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
Exxon
Shops & Services
4,538 visits/mo
0.3 miles
Truist
Shops & Services
4,356 visits/mo
0.4 miles
AutoZone
Shops & Services
3,825 visits/mo
0.4 miles
Papa John's Pizza
Dining
3,334 visits/mo
0.5 miles
Huntington Bank
Shops & Services
3,224 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Gas/service station with building and residential houses in downtown Fairmont.
Where is this gas station located?
The property is located at 414 Corbin Pl Fairmont, WV.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Convenient location in bustling downtown Fairmont with walking distance to many amenities.; Relatively new gas station tanks and pumps, replaced in Spring 2018.; High daily traffic count of 8,718 vehicles on Jackson Street.
