Limited-Service
For Sale
Contact for pricing
15 LAWLESS RD, Morgantown, WV 26501
A 57-room limited-service hotel with paved parking and covered entry.
Property Size27,519 SF
Price / SF$152.62
Days on Market118
Property Features for 15 LAWLESS RD
General Information
Standard status
Active
Size
27,519 SF
Total Parking Spaces
62
Property subtype
Hospitality
Additional Details
Highway Access
Yes
Amenities
Free High-Speed WiFi
Hot Breakfast
Fitness Room
Lobby & Reception Areas
Staff Offices/Break Room
Guest Laundry Area
Elevator
Automatic Sliding Front-Entry Doors
Covered Entry
Building Details
Year Built
2007
Buildings
1
Units
54
Listing Agency:
Black Diamond Realty
Listed By:
Mark J. Nesselroad · License #WV WV0029167
(304) 413-4350
Source:
Crexi
Added: May 13
Changed: Aug 24
Last Checked: Sep 7 at 5:29AM
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 Black Diamond Realty
Investment Insights
Based on property information with market context.
This limited-service hotel offers 57 guest rooms in a room mix that includes 13 singles, 30 doubles, and 14 suites. The property was built in 2007 and includes guest-focused amenities such as free high-speed WiFi and hot breakfast, along with a fitness room, lobby and reception areas, staff offices/break room, guest laundry area, and an elevator. Automatic sliding front-entry doors support guest access, and the site includes a paved parking lot with 62 spaces and a covered entry.
The property is located about 0.3 mile from Interstate 79, Exit 152.
The offering is a hospitality sale with a Sonesta Essential franchise.
The property is located about 0.3 mile from Interstate 79, Exit 152.
The offering is a hospitality sale with a Sonesta Essential franchise.
Key Highlights
- Sonesta Essential limited‑service hotel with 57 guest rooms
- Room mix includes 13 singles, 30 doubles, and 14 suites
- Built in 2007 with premium bedding
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
$166,662
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
3.97%
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%
$3,333,240
$3.3M
Cap Rate 7%
$2,380,886
$2.4M
Cap Rate 9%
$1,851,800
$1.9M
Market Conditions
NOI Build-Up for 27,519 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
$412.8K $15.00/SF
− Vacancy
−$61.9K −$2.25/SF
EGI
$350.9K $12.75/SF
− OpEx
−$184.2K −$6.69/SF
NOI
$166.7K $6.06/SF
Area
Monongalia County, WV
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$3,333,240
Cap Rate 7%
$2,380,886
Cap Rate 9%
$1,851,800
Alternative Uses
Best Use
Hotel Hospitality
$2.38M
$2.08M – $2.78M
NOI $166,662 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.93M
$6.94M – $9.26M
NOI $555,338 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
397
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - A 57-room limited-service hotel with paved parking and covered entry.
Where is this hotel located?
The property is located at 15 LAWLESS RD Morgantown, WV.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Sonesta Essential limited‑service hotel with 57 guest rooms; Room mix includes 13 singles, 30 doubles, and 14 suites; Built in 2007 with premium bedding
