852 Mercer StPrinceton, WV 24740

Property Details for 852 Mercer St

Lot size

0.08 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

28-10- 10-0338.0000

APU

28101003380000

Description

This exceptional mixed-use property, located at 852 Mercer Street in Princeton, West Virginia, presents a compelling investment opportunity. The 6,480 square foot building, constructed in 1940 and renovated five years ago, boasts seven units: six one-bedroom, one-bathroom apartments and a sizable 3,000 square foot commercial space currently leased to a salon. The property sits on a 0.07-acre lot and features two stories. Currently operating at 100% occupancy since September 9, 2024, the building generates a substantial net operating income (NOI) of $51,871, yielding an attractive 11.53% cap rate. The asking price is $450,000, translating to $69.44 per square foot. Tenant amenities include a coin-operated laundry facility. Owner benefits include an on-site office with a half-bath, a utility room, and a turnkey operation. The building's prime location ensures high visibility and strong rental demand. The current gross rents total $5,200 per month. The commercial space includes two offices, two half-baths, a kitchenette, and a laundry room. This stabilized investment offers significant potential for long-term appreciation and stable rental income, making it an ideal addition to any investment portfolio. Detailed financial information is available upon request.

Location Insight

City

Princeton

County

Mercer

State

West Virginia

Latitude

37.3698

Longitude

-81.0947

CBSA code

14140

CBSA name

BLUEFIELD, WV-VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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