Medical Office Building
For Sale
Contact for pricing
2195 Cheat Road, Morgantown, WV 26508
First-floor suite offers 9,191+/- SF and can be subdivided for office, medical, or wellness use.
Property Size15,094 SF
Price / SF$178.88
Days on Market180
Property Features for 2195 Cheat Road
General Information
Standard status
Active
Size
15,094 SF
Property subtype
Office
Zoning
No Zoning
Lease Type
NNN
Site & Location
Traffic Count
5,099 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2006
Buildings
1
Stories
2
Units
2
Tenancy
Single
Listing Agency:
Black Diamond Realty
Listed By:
Mark J. Nesselroad · License #WV WV0029167
(304) 413-4350
Source:
Crexi
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 7 at 12:20PM
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.
Available is a first-floor suite totaling 9,191 (+/-) square feet, currently vacant and ready for lease. The space can be subdivided to support multiple tenants or smaller users, making it adaptable for office, medical office, or health and wellness programming.
A fully occupied second-floor area totaling 5,152 (+/-) square feet is in place with Mountaineer Orthopedic Specialists, LLC, providing an established healthcare presence within the building. The property sits along Route 857 in the Cheat Lake area of Morgantown, with convenient access near West Virginia Route 43 Exit 1 (Cheat Lake) and Interstate 68 Exit 10 for regional connectivity.
The site is outside city limits, and the public remarks indicate no B&O taxes or zoning restrictions. Visibility is noted along Cheat Road with approximately 5,099 vehicles per day (Esri and Data Axle, 2025).
A fully occupied second-floor area totaling 5,152 (+/-) square feet is in place with Mountaineer Orthopedic Specialists, LLC, providing an established healthcare presence within the building. The property sits along Route 857 in the Cheat Lake area of Morgantown, with convenient access near West Virginia Route 43 Exit 1 (Cheat Lake) and Interstate 68 Exit 10 for regional connectivity.
The site is outside city limits, and the public remarks indicate no B&O taxes or zoning restrictions. Visibility is noted along Cheat Road with approximately 5,099 vehicles per day (Esri and Data Axle, 2025).
Key Highlights
- 9,191+/- SF first‑floor suite is currently vacant and available for lease.
- Suite can be subdivided to accommodate multiple tenants or smaller users.
- Suitable for office, medical office, or health and wellness use.
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
$228,031
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
8.45%
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%
$4,560,620
$4.6M
Cap Rate 7%
$3,257,586
$3.3M
Cap Rate 9%
$2,533,678
$2.5M
Market Conditions
NOI Build-Up for 15,094 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
$394.9K $26.16/SF
− Vacancy
−$90.8K −$6.02/SF
EGI
$304.0K $20.14/SF
− OpEx
−$76.0K −$5.04/SF
NOI
$228.0K $15.11/SF
Area
Monongalia County, WV
Vacancy
23.00%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
25.00%
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%
$4,560,620
Cap Rate 7%
$3,257,586
Cap Rate 9%
$2,533,678
Alternative Uses
Best Use
Office B
$3.26M
$2.85M – $3.80M
NOI $228,031 @ 7.0% cap · market cap 8.45%
Second Best
Healthcare Medical
$1.86M
$1.63M – $2.17M
NOI $130,140 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,599 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5,099 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 26508, WV
36,907
Population
16,829
Households
2.2
Avg Household Size
37
Median Age
50%
College-Educated
95%
High-School Grad
123.1 sq mi
ZIP Area
300
Density / Sq Mi
$83,247
Median Household Income
$51,072
Median Earnings
$984
Median Rent
$287,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - First-floor suite offers 9,191+/- SF and can be subdivided for office, medical, or wellness use.
Where is this office units located?
The property is located at 2195 Cheat Road Morgantown, WV.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 9,191+/- SF first‑floor suite is currently vacant and available for lease.; Suite can be subdivided to accommodate multiple tenants or smaller users.; Suitable for office, medical office, or health and wellness use.
