Medical Office
6-8-10 Canyon Road, Morgantown, WV 26508
For Sale
New
$4,750,000
Medical and professional tenants include WVU Medicine and Omnia Medical.
Property Size17,330 SF
Lot Size0.96 Acres
Price / SF$274.09
Days on Market2
Property Features for 6-8-10 Canyon Road
General Information
Standard status
Size
Class
Total Parking Spaces
Lot size
Property subtype
Occupancy
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Utilities to Site
Property Use
Amenities
backup power generators
Building Details
Year Built
Buildings
Building Size
Tenancy
Listing Agency:
GLENMARK REAL ESTATE LLC
Listed By:
Mark Nesselroad · License #3993
(304) 599-3369
Source:
Deepcreeksales
Added: Nov 8
Last Checked: Nov 8 at 5:38PM
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 GLENMARK REAL ESTATE LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2008, this 17,330-square-foot medical office property occupies 0.955 acres at 6, 8 and 10 Canyon Road. The building is fully leased to WVU Medicine and Omnia Medical; Omnia uses the property for its corporate headquarters, while WVU Medicine provides Healthy Minds Counseling services there. On-site features include 36 off-street parking spaces and backup generators, along with three-phase electric, natural gas, public water and sewer.
The property is in Morgantown’s Cheat Lake area, with West Virginia University, J.W. Ruby Memorial Hospital, Mon Health and other regional healthcare providers identified among nearby institutions. Interstate visibility is also noted for the site.
The property is in Morgantown’s Cheat Lake area, with West Virginia University, J.W. Ruby Memorial Hospital, Mon Health and other regional healthcare providers identified among nearby institutions. Interstate visibility is also noted for the site.
Key Highlights
- 17,330‑square‑foot medical and professional office property on 0.955 acres
- Fully leased to WVU Medicine and Omnia Medical
- Omnia Medical’s corporate headquarters and WVU Medicine’s Healthy Minds Counseling are located at the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$261,811
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,236,220
$5.2M
Cap Rate 7%
$3,740,157
$3.7M
Cap Rate 9%
$2,909,011
$2.9M
Market Conditions
NOI Build-Up for 17,330 SF
Gross rent
$453.4K $26.16/SF
− Vacancy
−$104.3K −$6.02/SF
EGI
$349.1K $20.14/SF
− OpEx
−$87.3K −$5.04/SF
NOI
$261.8K $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 Rate 5%
$5,236,220
Cap Rate 7%
$3,740,157
Cap Rate 9%
$2,909,011
Alternative Uses
Best Use
Office B
$3.74M
$3.27M – $4.36M
NOI $261,811 @ 7.0% cap · market cap 5.51%
Second Best
Healthcare Medical
$2.13M
$1.87M – $2.49M
NOI $149,419 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$5.00M
$4.37M – $5.83M
NOI $349,722 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Balanced
Demand for This Use
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
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and professional tenants include WVU Medicine and Omnia Medical.
Where is this medical office space located?
The property is located at 6-8-10 Canyon Road Morgantown, WV.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 17,330‑square‑foot medical and professional office property on 0.955 acres; Fully leased to WVU Medicine and Omnia Medical; Omnia Medical’s corporate headquarters and WVU Medicine’s Healthy Minds Counseling are located at the property
