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    420/422 Charleston Dr Ripley, WV 25271
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    420/422 Charleston Dr, Ripley, WV 25271

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    • Office Spaces
    • 1,200 SF
    • 4.90 lot acres
    For Sale
    $1,500
    View Listing →
    Ripley Office Space: Prime Downtown Location For Sale
    $1,500
    1,200 SF

    Ripley Office Space: Prime Downtown Location

    New Construction, Flexible Build-Out, Medical Hub

    Statts Mills, WV 25271
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 420/422 Charleston Dr

    Year built
    2018
    Lot size
    4.90 lot acres
    Property type
    Office Spaces

    Description

    This exceptional commercial property presents a unique opportunity in Ripley, WV's thriving downtown area. Located at 420/422 Charleston Drive, this new construction office space offers unparalleled flexibility for discerning tenants. The 1,200 square foot unit at 420 Charleston Drive is currently unfinished, allowing for a completely customized build-out to perfectly match your business needs. The landlord is willing to collaborate on the build-out based on lease terms, or alternatively, tenants may complete their own build-out. This building enjoys a prime location amongst existing medical tenants, including a doctor's office and a physical therapy center, creating a synergistic environment. For larger requirements, the adjacent 422 Charleston Drive offers a substantial 3,920 square feet of space, divisible into two 1,960 square foot units. This presents an ideal opportunity for expansion or the possibility of sharing the space with a complementary business. The property sits on a generous 4.9-acre lot, providing ample parking and potential for future development. The monthly lease rate for the 1,200 square foot unit is $1500. This is an exceptional opportunity to establish a presence in a vibrant and growing community. Contact us today to schedule a viewing and discuss your specific requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ripley
    County
    Jackson
    State
    West Virginia
    Longitude
    -81.6989
    Latitude
    38.7934

    Comparable in this City

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      98 Hill Plaza Dr

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      0.08 Acres

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      1.77 Acres

      313 Charleston Dr

      OFFICE BUILDING
      313 Charleston Dr, Ripley, WV 25271-1505
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    • Value Estimation by Request
      0.44 Acres

      504 Church S St

      MEDICAL BUILDING
      504 Church S St, Ripley, WV 25271-1616
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    • Value Estimation by Request
      0.49 Acres

      Church St

      MEDICAL BUILDING
      Church St, Ripley, WV 25271
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    Similar Nearby for Sale

    • Contact for pricing
      1,200 SF

      Ripley Office Space: Prime Downtown Location

      New Construction, Flexible Build-Out, Medical Hub
      420/422 Charleston Dr, Ripley, WV 25271
      View Details
    • Contact for pricing
      1.16 Acres

      Residential Land in Ripley, WV

      1.16 acre residential land with utilities for future construction.
      12 Stoney Creek Dr, Ripley, WV 25271
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      2,708 SF

      Spacious Ranch-Style Home

      Well-maintained home with modern amenities, commuter-friendly location.
      9701 Charleston Rd, Ripley, WV 25271
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      1.25 Acres

      Ripley Drive-Thru Ready Property

      Commercial property with drive-thru, clinic potential in Ripley, WV.
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      Approximately 16 Acres of Land

      16 acres of land for sale at $150,000/acre.
      Ripley, WV 25271
      View Details
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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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