Mixed-Use Property with
For Sale
$1,459,999
318 High Street, Morgantown, WV 26505
Fully leased building with separately metered apartments and in-unit laundry.
Property Size16,324 SF
Days on Market408
Property Features for 318 High Street
General Information
Standard status
Active
Size
16,324 SF
Property subtype
Multi Family Home
Zoning
Central Business
Building Details
Building Size
16,324 SF
Year Built
1920
Stories
3
Units
9
Listing Agency:
Blue Sky Realty, LLC
(304) 685-3467
Listed By:
Ray Glymph
(304) 685-3467
Source:
Oliveriorealty
Added: Jul 22, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:10PM
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 Blue Sky Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property at 318 High Street combines three commercial storefronts with six residential apartments. The apartments are separately metered and include in-unit washer/dryer, central heating and air, plus access to a recently inspected fire alarm and sprinkler system.
The property is fully leased and carries Central Business zoning. Building improvements include newer roofs and upgraded ACs in some units, providing updated components across the asset. Its combination of street-level commercial space and residential units creates a single property with both storefront and apartment configurations.
The property is fully leased and carries Central Business zoning. Building improvements include newer roofs and upgraded ACs in some units, providing updated components across the asset. Its combination of street-level commercial space and residential units creates a single property with both storefront and apartment configurations.
Key Highlights
- Three commercial storefronts and six residential apartments
- Fully leased mixed‑use property at 318 High Street, Morgantown, WV 26505
- Apartments are separately metered and include in‑unit washer/dryer
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
$93,103
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
6.38%
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%
$1,862,060
$1.9M
Cap Rate 7%
$1,330,043
$1.3M
Cap Rate 9%
$1,034,478
$1.0M
Market Conditions
NOI Build-Up for 16,324 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
$172.4K $10.56/SF
− Vacancy
−$3.1K −$0.19/SF
EGI
$169.3K $10.37/SF
− OpEx
−$76.2K −$4.67/SF
NOI
$93.1K $5.70/SF
Area
Monongalia County, WV
Vacancy
1.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,862,060
Cap Rate 7%
$1,330,043
Cap Rate 9%
$1,034,478
Alternative Uses
Best Use
Mixed Use
$2.36M
$2.07M – $2.75M
NOI $165,281 @ 7.0% cap · market cap 11.32%
Second Best
Retail
$2.20M
$1.93M – $2.57M
NOI $154,262 @ 7.0% cap · market cap 10.57%
Theoretical Best
Office A
$4.71M
$4.12M – $5.49M
NOI $329,421 @ 7.0% cap · market cap 22.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,507
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 Multifamily 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 - Fully leased building with separately metered apartments and in-unit laundry.
Where is this mixed-use property located?
The property is located at 318 High Street Morgantown, WV.
What is the asking price?
The asking price for this property is $1,459,999.
What are key features of this property?
This property features: Three commercial storefronts and six residential apartments; Fully leased mixed‑use property at 318 High Street, Morgantown, WV 26505; Apartments are separately metered and include in‑unit washer/dryer
