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522-24 9th Street
Huntington, WV 25701
Wayne Scott with REALTY EXCHANGE COMMERCIAL / RESIDENTIAL BROKERAGE, original listing - (304) 523-2225
$825,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
10620 Square Feet
Property Description
Beautiful office & residential mixed-use building located in the central downtown business district. Completed in the 1920's for the Jackson Building & Loan Association, the building is constructed of brick and masonry. The front facade of the building features 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 adorn the front facade with lighting set by programable automatic timer. Commercial office space of just over 6,000 sq. ft. is located on the first floor, mezzanine, and lower levels, with its main entrance and foyer facing 9th Street, another entrance is located on the north alley side of the building. The space contains 14 large private offices, 2 conference rooms, large reception areas, a dedicated IT room, 2 large safe file storage areas, 5 restrooms and a small kitchen. The reception area has a built-in counter with large work area; all offices are wired to a central IT room located in the lower level; and there is a wired speaker system throughout the space. Two stairways lead from the first floor to the lower level. Apartments are located on the second and third floors, with each floor having two units. Access to the apartments is by separate locked doorway, with a small landing area, mail boxes and a stairway leading up to the apartments. All apartments have hardwood, ceramic tile and carpeted floorings. Each unit has two bedrooms, a full bathroom and an open style living room and kitchen area. All kitchens are equipped with full size appliances, granite countertops and beautiful wood cabinetry, featuring lots of storage area. Each unit is equipped with central heating and air conditioning, a stacked washer and dryer unit and an electric water heater. Coaxial cable has been ran to each unit for tenant's choice of internet and/or television provider. Each apartment unit has been provided with separate water and electric meters.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Commercial Sale-Other
Year Built
1920
MLS Number
--
Location
Address
522-24 9th Street
City
Huntington
State
WV
Zip Code
25701
County
CABELL
Listing
Provider
REALTY EXCHANGE COMMERCIAL / RESIDENTIAL BROKERAGE, original listing
Name
Phone
(304) 544-8805
Office Name
Office Phone
(304) 523-2225
Agent Name
Wayne Scott
Agency Phone
(304) 523-2225

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.