0.07 Acres in Beckley, WV - $324,900

Designated eligible for grants and tax credits for historic rehabilitation

14,500 square feet of open-plan space on five levels, all accessible by elevator

WORD PARK AND THE BECKLEY UNDERGROUND

Located within 200 feet of two downtown parks, the property sits at the center of one of the citys busiest festival grounds. Word Park, which includes a gazebo performance space, is often the anchor for downtown events. Cardinal Park, a small town square, includes a newly unveiled sculpture of ascending cardinals, the West Virginia state bird. The building notably adjoins the Beckley Underground, a public festival space located behind the row of historic buildings on Neville Street. A number of restaurant and nightclub venues open onto the underground as well as the subject property and the Raleigh Playhouse & Theatre.

WEST VIRGINIA UNIVERSITY

The southern campus of West Virginia University was established in Beckley in 2015, adjoining the downtown. It matriculates more than 1,200 students annually through its WVU Institute of Technology, though university officials have expressed plans to expand the university and have recently purchased several buildings in the downtown, including its new Culinary Arts and Interdisciplinary Sciences buildings, located just across the street.

LOCATION

Google Coordinates: 37.776458, -81.190749

Address: 337 Neville Street, Beckley, WV 25801

Elevation Range: 2,421 ft. +/-

ABOUT THE BUILDING

Designed as a retail and warehousing space, the building boasts large open-plan spaces with roughly 2,900 square feet per level. All five levels are accessible by freight elevator.

The street-level entrance has historically operated as a retail space while the upper floors have traditionally been used as showrooms. The basement level opens at the rear onto the Beckley Underground festival space.

The broad windows on the front, rear, and flanking facades allow for plenty of light and air circulation as well as views of the courthouse, courtyard, and historic streetscape. Two bathrooms, a kitchen area, and workshop and office areas are located on the street and basement levels.

The building has been maintained with diligence since its construction in 1929, and period fixtures and detailed elements remain inside and out, including a vault, elevator, decorative tin ceilings, Italian cut stone foundations, and wooden bay doors off the courtyard at the rear. Ceiling heights measure 8.3 feet on the first level, 7.4 on the second; 8.6 on the third, 8.2 on the fourth, and 12 on the basement level.

UTILITIES

Water: public water is supplied by Beckley Water Co.

Electricity: on-property electric service is supplied by AEP

Natural Gas: an adjacent line is supplied by Mountaineer Gas Co.

Internet: high-speed service available

Fire Service: 0.5 miles from Beckley Fire Department

Cell: Coverage excellent with 4G supplied by several carriers

Sewer: City of Beckley

MECHANICAL & IMPROVEMENTS

Many of the mechanical features of the building may be improved and repaired with the aid of grants and tax credits, which can offset total costs by as much as 90 percent if used in tandem. New heating, plumbing, and electrical systems may be eligible for tax credits, as may be expenses related to updating kitchens and bathrooms, compliance with the Americans with Disabilities Act, and fire-suppression systems and fire escapes. Grants are typically provided to remedy emergent issues that could lead to damage and may include the repair of the roof, windows, and foundations. Expenses covered by credits may include architectural and engineering fees, development fees, and other construction-related costs.

HVAC

Heating and air-conditioning are provided on the first story and basement levels by a Trane heat pump installed in 2015. The temperature on the upper levels is moderated by the lower-level system.

ELECTRIC

Three-phase service is available on all levels.

ELEVATOR

A Salem freight elevator installed in 1943 is in good repair. Tax credits of as much as 40 percent of the cost are generally available for the repair of historic elevators.

ROOF

A Dura-last commercial PVC roofing system was installed in 2001 and has remained in good condition. An isolated event during heavy snow caused a seam to require repair. State rehabilitation grants are generally available to help manage the cost of roof repairs.

EMERGENCY ESCAPES

A fire and emergency escape with rear access to the first floor was installed in 2015. A rear emergency escape from the upper floors requires repair or replacement, for which tax credits of as much as 40 percent of the cost are generally available.

WINDOWS

Most of the buildings doors and windows are original and in good repair. State rehabilitation grants are generally available to help manage the cost of the repair of original windows.

ZONING

The property is zoned commercial by the City of Beckley. All prospective buyers should consult the municipal zoning office regarding zoning and building codes.

DEED AND TAX INFORMATION

Deed Information: Deed Book 5057 Pg. 8089

Raleigh County, West Virginia

Acreage: surface 2,930 square feet +/-

Real Estate Tax ID/Acreage/Taxes:

Raleigh County (41), West Virginia

Beckley Corporate (01)

PART OF Tax Map 24 Parcel 43; Class 4

2021 Real Estate Taxes: $$2,044.73