522 9Th StHuntington, WV 25701

Property Details for 522 9Th St

Lot size

0.06 AC

Property type

Office properties

Property subtype

Office buildings

APN

06-05- 29-0166.0000

APU

6052901660000

Description

This stunning, 6,000-square-foot Class B office building, located at 522 9th Street in Huntington, West Virginia, presents a unique investment opportunity. Built in 1920 and originally home to the Jackson Building & Loan Association, this beautifully preserved structure boasts a striking brick and masonry façade featuring a wide band brick corbel, a concrete cornice with a large cartouche, and three concentric arched bays with molded concrete crests. Four large antique iron and glass torches illuminate the front, controlled by a programmable automatic timer. The main entrance and foyer face 9th Street, with an additional entrance accessible from a north alley. The interior comprises 14 large private offices, two conference rooms, spacious reception areas, a dedicated IT room, two large secure file storage areas, five restrooms, and a small kitchen. The reception area includes a built-in counter with ample workspace. All offices are wired to a central IT room in the lower level, and a wired speaker system is installed throughout. Two stairways connect the first floor to the lower level. The building is zoned C-1. The property is available for occupancy on March 6, 2024, with an asking price of $825,000 ($137.50 per square foot). The upper two floors house four two-bedroom apartments, each currently leased for $1200 per month, generating $4800 in monthly rental income. The first floor (including the mezzanine) and basement offer 6,000 square feet of office space previously occupied by the Chamber of Commerce and Duffield Law Firm. An introductory lease rate of $2500 per month is offered for the office space, with annual escalations. This mixed-use property offers a blend of income-producing residential units and substantial commercial office space in a prime downtown Huntington location.

• CAP approach

  CAP return

  Valuation

  6%

  $455,262

  6.5%

  $420,242

  7%

  $390,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $252,652

  Geo Method

  $252,652

• Alternative Use

  Use

  Valuation

  Residential

  $521,100

  Hospitality

  $477,325

  Educational

  $397,129

  Medical

  $410,786

  Retail

  $617,756

Location Insight

City

Huntington

County

Cabell

State

West Virginia

Latitude

38.4187

Longitude

-82.443

CBSA code

26580

CBSA name

HUNTINGTON-ASHLAND, WV-KY-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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