202 Main StRipley, WV 25271

Property Details for 202 Main St

Lot size

0.06 AC

Property type

Office properties

Property subtype

Office buildings

APN

18-05- 13-0123.0000

APU

18051301230000

Description

This meticulously restored commercial building at 202 Main Street, Ripley, WV, presents a unique investment opportunity. Boasting approximately 5,100 square feet of office space across multiple levels, this property offers substantial rental income. Previously a bank, the building retains original character, including a still-functional safe, seamlessly blended with upscale modern finishes throughout. The renovation encompassed the entire structure, from foundation to roof, resulting in a turnkey operation. Currently, all available space is leased to long-term tenants, providing immediate cash flow. Building amenities include a functional elevator, a comprehensive fire suppression and sprinkler system, and a forced-air gas furnace with central air conditioning. The property sits on a 0.06-acre lot, providing ample space for parking and potential future expansion. The building's prime location on Main Street in Ripley offers excellent visibility and accessibility. While the listed square footage is approximately 5,100 square feet, potential buyers are advised to independently verify all measurements and square footage. This is an exceptional opportunity to acquire a high-quality, income-producing commercial property in a desirable location. The asking price is $375,000.

• CAP approach

  CAP return

  Valuation

  6%

  $485,305

  6.5%

  $447,974

  7%

  $415,976

• Comparable approach

  Method

  Valuation

  Relative Method

  $260,790

  Geo Method

  $260,790

• Alternative Use

  Use

  Valuation

  Residential

  $555,488

  Hospitality

  $508,824

  Educational

  $423,335

  Medical

  $437,895

  Retail

  $658,522

Location Insight

City

Ripley

County

Jackson

State

West Virginia

Latitude

38.8187

Longitude

-81.712

CBSA code

16620

CBSA name

CHARLESTON, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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