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    384 Main St Chapmanville, WV 25508

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    For Sale
    Contact for pricing

    7,650 SF Medical/Office Space, WV

    Property size:
    7,650 SF

    Property Features for 384 Main St

    General Information

    Property type
    Medical offices
    Square Feet
    7,650 SF
    Class
    B
    Lot Size
    46,043 SF

    Building Details

    Year Built
    1977
    Buildings
    1
    Stories
    3

    We can help!

    Listing Contact
    Darrell Rolston
    Darrell Rolston

    Listing Agency: Rolston and Company Listing Agent: Darrell Rolston

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This three-story, 7,650-square-foot Class B medical office building in Chapmanville, West Virginia, is available for sale at $450,000. Built in 1977, the property sits on a 1.057-acre lot and features 20 parking spaces. Currently vacant, this building offers immediate occupancy starting September 9, 2024. Its convenient location on 384 Main St provides quick access to Route 119. The property is owned by Property Management Group Inc. and includes APN numbers 1-3-118 and 1-3-115. This versatile space is suitable for a variety of medical or traditional office uses, offering significant potential for a new owner or tenant. The building's size and ample parking make it an attractive option for businesses seeking a prominent presence in Chapmanville. The property is located in Logan County, West Virginia, zip code 25508. Serious inquiries are encouraged.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapmanville
    County
    Logan
    State
    West Virginia
    Longitude
    -82.017900443102
    Latitude
    37.970631310424

    Nearby Similar for Sale

    • $375,000
      1,600 SF

      Established Chapmanville Office Building

      Prime US 119 location, high-traffic area.
      377 Sunset View Rd, Chapmanville, WV 25508
      View Details
    • $450,000

      Medical Office Building For Sale

      Three-story medical office building with large parking lot and easy access.
      384 Main St, Chapmanville, WV 25508
      View Details

    FAQs

    What type of property is this?
    Medical office - 7,650 SF Medical/Office Space, WV
    Where is this medical office located?
    The property is located at 384 Main St Chapmanville, WV.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price for a 7,650 square foot office building.; Class B, three-story building constructed in 1977, situated on a 1.057-acre lot in Chapmanville, WV.; 7,650 square feet of net rentable space, currently vacant and available for lease.
    (304) 345-0500 Call to check price and availability
    Request Owner's contact information
    384 Main St Chapmanville, WV 25508
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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
    384 Main St Chapmanville, WV 25508
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Darrell Rolston
    Darrell Rolston
    Real Estate License ID: 0016939
    (304) 345-0500 (304) 541-6694
    Learn more
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