358 Riverside Dr, Rainelle, WV 25962
This exceptional investment opportunity presents a 7,434 square foot warehouse situated on a 0.72-acre lot in Rainelle, West Virginia. Located at 358 Riverside Drive, zip code 25962, this property boasts two buildings, each two stories high, and offers significant potential for a variety of uses. Built in 1940, the property is being sold AS IS and requires some renovations, but holds immense potential for redevelopment. Previously owned by the family of the current owner since 2005, and historically used by NEHI-ROYAL CROWN BOTTLING CO. for production, this versatile space could be transformed into a warehouse, mechanic shop, garage, or other commercial enterprise. The property also includes living quarters on the upper level, adding to its unique appeal. The asking price is $195,000 ($26.23 per square foot). The seller will clear the property before closing. The estimated occupancy date is August 14, 2024. This is an owner/user investment opportunity.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.