1315 Airport BlvdMorgantown, WV 26508

Property Details for 1315 Airport Blvd

Lot size

1.38 AC

Property type

Retail space

APN

31-08- 4H-0001.0012

APU

31084H00010012

Description

This exceptional mixed-use property in Morgantown, West Virginia, presents a unique investment opportunity. Comprising eight buildings totaling 37,233 square feet on a sprawling 7.97-acre lot, this portfolio offers significant potential. The property is conveniently located just off the Mileground, 2.4 miles northeast of West Virginia University's Downtown Campus and 1.9 miles from I-68, Exit 7. Buildings were constructed at various times, starting in 1983, with significant renovations completed in 2017. The portfolio includes a mix of building types, suitable for creative office, daycare, or school uses. Construction materials vary, with concrete block, wood frame, and joist beam structures. Features include concrete board exteriors, shingle roofs, vinyl-clad windows, and gas forced-air HVAC systems. Electrical service is provided by 200-amp servers, and lighting is primarily fluorescent LED or recessed. Ample parking is available with 84 spaces. The property is zoned without specific zoning restrictions and offers substantial outdoor space. Assets may be purchased as a portfolio or individually. The asking price for the entire portfolio is $4,350,000. A short-term sale-leaseback option may be considered. Existing businesses plan to vacate upon sale.

• CAP approach

  CAP return

  Valuation

  6%

  $21,032,040

  6.5%

  $19,414,190

  7%

  $18,027,462

• Comparable approach

  Method

  Valuation

  Relative Method

  $30,287,862

  Geo Method

  $30,287,862

• Alternative Use

  Use

  Valuation

  Residential

  $16,376,596

  Hospitality

  $15,000,874

  Educational

  $12,480,551

  Medical

  $12,909,776

  Retail

  $19,414,190

Location Insight

City

Morgantown

County

Monongalia

State

West Virginia

Latitude

39.6502

Longitude

-79.9262

CBSA code

34060

CBSA name

MORGANTOWN, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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