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    16 Rte Ellenboro, WV 26346
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    16 Rte Ellenboro, WV 26346

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    • Office Spaces
    • 3.01 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 16 Rte

    Lot size
    3.01 lot acres
    Property type
    Office Spaces

    Description

    This exceptional 2880-square-foot commercial building is situated on a 3.01-acre lot at a prime location where Glendale Road and Route 16 intersect in Ellenboro, West Virginia (zip code 26346). Previously used as a plumbing and heating company, this versatile property offers numerous possibilities for various businesses. The building boasts significant advantages, including free radiant floor heating powered by a gas well, significantly reducing operational costs. Water is currently supplied by a well, but community water is readily available with a tap already in place. A robust 200-amp electrical service ensures ample power. The main level features a kitchenette, a half-bath (easily convertible to a full bath), two offices, a workshop area, and a sizable storage/unloading area with an oversized garage door. The upper level, currently used for storage, offers an additional 960 square feet with potential for conversion into bedrooms or other functional spaces. This property's adaptability makes it suitable for a wide range of uses, including a barndominium, place of worship, or event venue. The asking price is $175,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ellenboro
    County
    54085
    State
    West Virginia
    Longitude
    -81.0544
    Latitude
    39.2622

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      Main St

      OFFICE BUILDING • 0.10 Acres
      Main St, Ellenboro, WV 26346
      View Details
    • Value Estimation by Request
      0.21 Acres

      Main St

      OFFICE BUILDING • 0.21 Acres
      Main St, Ellenboro, WV 26346
      View Details
    • Value Estimation by Request
      0.14 Acres

      Main St

      OFFICE BUILDING • 0.14 Acres
      Main St, Ellenboro, WV 26346
      View Details
    • Value Estimation by Request
      0.46 Acres

      Ellenboro, WV 26346

      MINI-WAREHOUSE, STORAGE • 0.46 Acres
      Ellenboro, WV 26346
      View Details
    • Value Estimation by Request
      0.18 Acres

      Wagner St

      VACANT COMMERCIAL LAND • 0.18 Acres
      Wagner St, Ellenboro, WV 26346
      View Details
    • Value Estimation by Request
      0.56 Acres

      Rr R

      VACANT COMMERCIAL LAND • 0.56 Acres
      Rr R, Ellenboro, WV 26346
      View Details

    Similar Nearby for Sale

    • $165,000
      2,880 SF

      Ellenboro Commercial Building on Route 16

      2880 SF commercial building with prime location and versatile potential.
      Rte 16, Ellenboro, WV 26346
      View Details
    • Contact for pricing
      Pending

      Land for Sale in Ellenboro

      8.5 acres in a country setting near Route 50.
      Mckim Creek Rd, Ellenboro, WV 26346
      View Details
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    Ellenboro, WV 26346
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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
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