Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    600-602 Virginia Ave Charleston, WV 25301
    Back to Search
    Property profile & analytics

    600-602 Virginia Ave Charleston, WV 25301

    View on Map
    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 600-602 Virginia Ave

    Property type
    Office Spaces

    Description

    This exceptional Charleston, West Virginia office building, located at 600-602 Virginia Avenue, is being offered at public auction. Boasting over 92,800 square feet, this property features six active leases generating a current gross monthly income of $32,191.02. Situated in the Business Improvement District, just one block from the Kanawha River, it offers stunning river views. The building is listed on the National Register of Historic Places (#96000439) and benefits from a recently installed roof (October 2024). The property includes two passenger elevators (one requiring repair, with a quote available), one freight elevator, and a mechanical room with HVAC on each floor. Tenants' electric is separately metered, and there are two public restrooms per floor. Safety features include a 100% sprinkler system and a comprehensive security system with cameras throughout. Ample parking is provided by an attached garage with three 16-foot overhead doors, accommodating 18+ cars, plus additional alley parking for 4 cars. The auction concludes Thursday, November 21st, at 10:00 AM, with online bidding available. This is a unique opportunity to acquire a substantial, income-generating property in a prime Charleston location. Please note that the listed asking price is disregarded

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    54039
    State
    West Virginia
    Longitude
    -81.6336
    Latitude
    38.3517

    Comparable in this City

    • Value Estimation by Request
      3,428 SF

      109 Charleston Wv

      Medical Office Space • 3,428 SF
      109 Charleston Wv, Charleston, WV 25301
      View Details
    • Value Estimation by Request
      8,700 SF

      229 Capitol St

      Office Spaces • 8,700 SF
      229 Capitol St, Charleston, WV 25301
      View Details
    • Value Estimation by Request
      70,388 SF

      900 Virginia St

      Office Spaces • 70,388 SF
      900 Virginia St, Charleston, WV 25301
      View Details
    • Value Estimation by Request
      70,388 SF

      900 Virginia St

      Office Units • 70,388 SF
      900 Virginia St, Charleston, WV 25301
      View Details
    • Value Estimation by Request
      253,950 SF

      300 Summers St

      Office Units • 253,950 SF
      300 Summers St, Charleston, WV 25301
      View Details
    • Value Estimation by Request

      1038 Quarrier St

      Office Units
      1038 Quarrier St, Charleston, WV 25301
      View Details

    Similar Nearby for Sale

    • $699,000
      18,700 SF

      Downtown Charleston Office Building

      Prime Location, 18,700 sq ft Office Space
      608 Virginia St, Charleston, WV 25301
      View Details
    • Contact for pricing

      Finished Office Space with Income

      Office building with multiple tenants and income potential.
      1337 Virginia St E, Charleston, WV 25301
      View Details
    • Contact for pricing

      Downtown Building with Remodeled First

      8700 sq ft building in downtown Charleston with updates.
      299 Capitol St, Charleston, WV 25301
      View Details
    • $850,000

      Renovated Office Building in Charleston

      Fully renovated two-story office building in downtown Charleston, WV.
      16 Capitol St, Charleston, WV 25301
      View Details
    • $425,000
      3,428 SF

      Downtown Charleston Office Space

      Class A Office, 3,428 SF, High Cap Rate
      109 Charleston Wv, Charleston, WV 25301
      View Details
    • $1,200,000
      23,298 SF

      Charleston Office Building For Sale

      23,298 SF office building in Charleston's Central Business District.
      1000 Virginia St East, Charleston, WV 25301
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Charleston Office Space Available

      20-story office building with city views and tenant amenities.
      300 Capitol St, Charleston, WV 25301
      View Details
    • Contact for pricing
      30,215 SF

      Class A Office Tower

      Prestigious high-rise office tower in Charleston's center.
      500 Lee St East, Charleston, WV 25301
      View Details
    • Contact for pricing

      Office Space with High-End Finishes

      Office building with high-end finishes and attached parking garage.
      900 Virginia St E, Charleston, WV 25301
      View Details
    • $22 SF/Yr
      22,496 SF

      Downtown Charleston Office Space

      Office space available in Charleston's Central Business District.
      707 Virginia St East, Charleston, WV 25301
      View Details
    • Contact for pricing

      Downtown Charleston Office Space Available

      Office suites for lease in central downtown location.
      109 Capitol St, Charleston, WV 25301
      View Details
    • Sponsored
      Contact for pricing

      WV, Charleston - Quarrier St

      Flexible workspace in WV, Charleston - Quarrier St
      1038 Quarrier St, Charleston, WV 25301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    600-602 Virginia Ave
    Charleston, WV 25301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    600-602 Virginia Ave, Charleston, WV, 25301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!