Car Wash Facility with Multiple
For Sale
$499,000
132 South High Street, Morgantown, WV 26501
Former automotive service property with office space, equipment areas, parking, and access from two streets.
Property Size5,883 SF
Lot Size0.67 Acres
Price / SF$84.82
Days on Market88
Property Features for 132 South High Street
General Information
Standard status
Active
Size
5,883 SF
Lot size
0.67 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Lot Size Acres: 0.67
Sewer Type: Municipal
Total Taxes: $5,655, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Sale, Sale Type: Foreclosure, Sale Type: Auction, Availability Date: 2026-07-07, Online Only Auction
Neighborhood Name: South Park
Above Area Square Feet: 5883
Water Source: Municipal
Building Details
Buildings
1
Listing Agency:
Joe R. Pyle Complete Auction and Realty Service
(304) 592-6000
Listed By:
Joe Pyle
(304) 592-6000
Source:
Doyle-realty
Added: Jun 4
Changed: Aug 29
Last Checked: Aug 29 at 3:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joe R. Pyle Complete Auction and Realty Service
Investment Insights
Based on property information with market context.
This approximately 5,883-square-foot automotive property occupies an approximately 0.67-acre site in Morgantown. The existing L-shaped building includes multiple service bays, office space, equipment areas, and on-site parking. The improvements previously operated as a car wash facility and may support continued use or redevelopment, subject to applicable requirements.
The property fronts South High Street at 132 South High Street and has additional access from Simpson Street. It is located near Downtown Morgantown, West Virginia University, the Wharf District, restaurants, businesses, and public amenities. I-79 and I-68 provide regional transportation access. A Phase II Environmental Site Assessment Report is available upon request. The property will be sold through an online public auction.
The property fronts South High Street at 132 South High Street and has additional access from Simpson Street. It is located near Downtown Morgantown, West Virginia University, the Wharf District, restaurants, businesses, and public amenities. I-79 and I-68 provide regional transportation access. A Phase II Environmental Site Assessment Report is available upon request. The property will be sold through an online public auction.
Key Highlights
- Approximately 0.67 acres with frontage on South High Street
- Approximately 5,883 square foot L‑shaped building
- Multiple service bays, office space, and equipment areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,543
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,860
$690.9K
Cap Rate 7%
$493,471
$493.5K
Cap Rate 9%
$383,811
$383.8K
Market Conditions
NOI Build-Up for 5,883 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.9K $9.00/SF
− Vacancy
−$3.6K −$0.61/SF
EGI
$49.3K $8.39/SF
− OpEx
−$14.8K −$2.52/SF
NOI
$34.5K $5.87/SF
Area
Monongalia County, WV
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,860
Cap Rate 7%
$493,471
Cap Rate 9%
$383,811
Alternative Uses
Best Use
Specialty Retail
$797.1K
$697.5K – $929.9K
NOI $55,796 @ 7.0% cap · market cap 11.18%
Second Best
Retail
$794.2K
$694.9K – $926.6K
NOI $55,594 @ 7.0% cap · market cap 11.14%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,720 @ 7.0% cap · market cap 23.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 26501, WV
19,200
Population
9,541
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
94%
High-School Grad
58.5 sq mi
ZIP Area
328
Density / Sq Mi
$62,173
Median Household Income
$34,949
Median Earnings
$914
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Former automotive service property with office space, equipment areas, parking, and access from two streets.
Where is this car wash located?
The property is located at 132 South High Street Morgantown, WV.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 0.67 acres with frontage on South High Street; Approximately 5,883 square foot L‑shaped building; Multiple service bays, office space, and equipment areas
