Flexible Mixed-Use
For Sale
Contact for pricing
180 Willey Street, Morgantown, WV 26505
Built in 1960, the property supports retail, office, and service uses.
Property Size7,842 SF
Price / SF$124.33
Days on Market16
Property Features for 180 Willey Street
General Information
Standard status
Active
Size
7,842 SF
Property subtype
Retail, Office, Mixed Use
Building Details
Year Built
1960
Listing Agency:
Black Diamond Realty
Listed By:
Mark J. Nesselroad · License #WV WV0029167
(304) 413-4350
Source:
Crexi
Added: Aug 19
Changed: Sep 2
Last Checked: Sep 2 at 1:56PM
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 mixed-use commercial property was constructed in 1960 and is configured to support a range of business functions, including retail, office, service, and other commercial uses. Its adaptable layout may accommodate more than one occupant and offers subdivision potential for users seeking separate areas within the building.
The property is positioned in downtown Morgantown on Willey Street, near West Virginia University’s downtown campus and High Street. That setting places the building within an established central business environment and provides a commercial location suited to businesses requiring a presence near downtown activity.
The combination of mixed-use functionality, multi-user flexibility, and subdivision potential gives the property a broad commercial profile for owner-users, investors, and operating businesses.
The property is positioned in downtown Morgantown on Willey Street, near West Virginia University’s downtown campus and High Street. That setting places the building within an established central business environment and provides a commercial location suited to businesses requiring a presence near downtown activity.
The combination of mixed-use functionality, multi-user flexibility, and subdivision potential gives the property a broad commercial profile for owner-users, investors, and operating businesses.
Key Highlights
- Mixed‑use property supporting retail, office, service, and other commercial uses
- Built in 1960
- Layout may accommodate multiple users
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
$79,400
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
8.14%
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%
$1,588,000
$1.6M
Cap Rate 7%
$1,134,286
$1.1M
Cap Rate 9%
$882,222
$882.2K
Market Conditions
NOI Build-Up for 7,842 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
$141.2K $18.00/SF
− Vacancy
−$14.1K −$1.80/SF
EGI
$127.0K $16.20/SF
− OpEx
−$47.6K −$6.07/SF
NOI
$79.4K $10.13/SF
Area
Monongalia County, WV
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,588,000
Cap Rate 7%
$1,134,286
Cap Rate 9%
$882,222
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,472 @ 7.0% cap · market cap 12.15%
Second Best
Mixed Use
$1.13M
$992.5K – $1.32M
NOI $79,400 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,253 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 26505, WV
39,057
Population
19,220
Households
2
Avg Household Size
27
Median Age
55%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$42,275
Median Household Income
$24,042
Median Earnings
$942
Median Rent
$265,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Built in 1960, the property supports retail, office, and service uses.
Where is this mixed-use property located?
The property is located at 180 Willey Street Morgantown, WV.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Mixed‑use property supporting retail, office, service, and other commercial uses; Built in 1960; Layout may accommodate multiple users
