1370 University AveMorgantown, WV 26505

  • Retail properties
  • 0.23 AC
For Sale
$990,000 View listing

Property Details for 1370 University Ave

Lot size
0.23 AC
Property type
Retail properties
Property subtype
Retail space
APN
31-11- 26A-0082.0000
APU
311126A00820000

Description

This exceptional commercial property at 1370 University Avenue in Morgantown, West Virginia, presents a unique investment opportunity. The two-story, 10,720-square-foot building, constructed in 1947 and renovated in 1985, offers flexible space options suitable for various commercial uses, including retail, office, and restaurant. Currently, the entire 10,720 square feet is vacant and available for lease. The minimum divisible space is 1,536 square feet, while the maximum contiguous space is the entire building. The property boasts a prime downtown location, providing high visibility and convenient access to West Virginia University's main campus, the Walnut Street PRT, and numerous amenities. Ample parking is available with 24 off-street spaces across two paved lots. The building's strategic location offers easy access to major roadways, including I-79 (Exit 152, approximately 2.5 miles), I-68 (Exit 1, approximately 3.5 miles), and I-68 (Exit 7, approximately 5 miles). The 0.36-acre lot provides ample space and potential for future development. This property is ideal for businesses seeking a prominent location in a thriving downtown area. The building features two suites and is situated in Monongalia County, zip code 26505.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,550,882
    6.5%
    $3,277,737
    7%
    $3,043,613
  • Comparable approach

    Method
    Valuation
    Relative Method
    $5,113,562
    Geo Method
    $5,113,562
  • Alternative Use

    Use
    Valuation
    Residential
    $2,764,894
    Hospitality
    $2,532,628
    Educational
    $2,107,117
    Medical
    $2,179,584
    Retail
    $3,277,737
1370 University Ave, Morgantown, West Virginia

Location Insight

City
Morgantown
County
Monongalia
State
West Virginia
Latitude
39.6313
Longitude
-79.9567
CBSA code
34060
CBSA name
MORGANTOWN, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$11,334
$131,400
$299,340
$430,740
-
$219,000
$498,900
$717,900

FAQs

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