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    7639 Winchester Ave Inwood, WV 25428

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    7639 Winchester Ave Inwood, WV 25428

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    • Multifamily properties
    • 6,000 SF
    • 0.69 lot acres
    For Sale
    $359,900
    View Listing →
    Inwood Multi-Family Development Opportunity For Sale
    $359,900
    6,000 SF

    Inwood Multi-Family Development Opportunity

    Prime Inwood location, approved plans, ready to build.

    7639 Winchester Ave, Inwood, WV 25428
    View Listing
    Property ID
    US94-0253647
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Multifamily properties

    Property Details for 7639 Winchester Ave

    Lot size
    0.69 lot acres
    Property size
    6,000 SF
    Property type
    Multifamily properties

    Description

    This exceptional 0.69-acre lot at 7639 Winchester Avenue in Inwood, West Virginia presents a turnkey multi-family development opportunity. The property boasts pre-approved site plans for a 6,000 square foot building, eliminating significant pre-construction hurdles and saving valuable time. The approved plans detail a thoughtfully designed structure featuring three 1,000 square foot flex office spaces on the main level, ideal for a variety of commercial uses. Above, the second level comprises three 1,000 square foot apartments, catering to the growing residential demand in the area. All necessary permits, including highway permits, are included in the sale, ensuring a smooth and efficient transition to the construction phase. This property is strategically located in the heart of Inwood's burgeoning commercial district, directly adjacent to the new Food Lion grocery store, guaranteeing high visibility and convenient access for both commercial tenants and residents. The combination of approved plans, readily available permits, and a prime location makes this a truly exceptional investment opportunity, ready for immediate development. Don't miss this chance to capitalize on Inwood's vibrant growth. The asking price is $359,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Inwood
    County
    Berkeley
    State
    West Virginia
    Longitude
    -78.03685
    Latitude
    39.36149

    Comparable in this City

    • $299,900

      Renovated Mixed-Use Property Near Exit 8

      Newly renovated mixed-use property in the Tabler Station area.
      5312 Tabler Station Rd, Inwood, WV 25428
      View Details
    • $315,000

      Land with Interstate 81 Frontage

      Land suitable for residential, multifamily, or commercial development.
      370-382 Kerns St, Inwood, WV 25428
      View Details

    Similar Nearby for Sale

    • $299,900

      Renovated Mixed-Use Property Near Exit 8

      Newly renovated mixed-use property in the Tabler Station area.
      5312 Tabler Station Rd, Inwood, WV 25428
      View Details
    • $429,000
      1,008 SF

      Inwood Office Building - Great Investment

      Prime Inwood office space, 1,008 sq ft, 0.28 acres.
      34 Cline Dr, Inwood, WV 25428
      View Details
    View Listing
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    Inwood, WV 25428
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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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