Automotive Shop
For Sale
$380,000
778 Willey Street, Morgantown, WV 26501
Block building with two garage bays on a 0.25-acre lot, previously operated as an auto shop.
Property Size1,700 SF
Days on Market433
Property Features for 778 Willey Street
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Zoning
Small Scale Commercial Business
Building Details
Building Size
1,700 SF
Year Built
1954
Stories
1
Units
1
Listing Agency:
Dang & Co LLC
(304) 290-6618
Listed By:
Ann Chen
(304) 290-6618
Source:
Oliveriorealty
Added: Jun 18, 2025
Changed: Aug 23
Last Checked: Aug 23 at 4:04AM
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 Dang & Co LLC
Investment Insights
Based on property information with market context.
This for-sale automotive property includes an approximately 1,700 sq ft block building with two garage bays that was previously operated as an auto shop. The site also offers additional on-site parking for customers and staff.
The property is located just minutes from Downtown Morgantown and the WVU Downtown Campus.
Set on a 0.25-acre lot, the configuration supports automotive-focused operations and provides yard and parking space for day-to-day use.
The property is located just minutes from Downtown Morgantown and the WVU Downtown Campus.
Set on a 0.25-acre lot, the configuration supports automotive-focused operations and provides yard and parking space for day-to-day use.
Key Highlights
- Approximately 1,700 sq ft block building on a 0.25‑acre lot
- Two garage bays; previously operated as an auto shop
- Additional on‑site parking for customers and staff
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
$16,065
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
4.23%
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%
$321,300
$321.3K
Cap Rate 7%
$229,500
$229.5K
Cap Rate 9%
$178,500
$178.5K
Market Conditions
NOI Build-Up for 1,700 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
$25.5K $15.00/SF
− Vacancy
−$2.6K −$1.50/SF
EGI
$23.0K $13.50/SF
− OpEx
−$6.9K −$4.05/SF
NOI
$16.1K $9.45/SF
Area
Monongalia County, WV
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$321,300
Cap Rate 7%
$229,500
Cap Rate 9%
$178,500
Alternative Uses
Best Use
Retail
$229.5K
$200.8K – $267.8K
NOI $16,065 @ 7.0% cap · market cap 4.23%
Second Best
Industrial
$142.6K
$124.8K – $166.4K
NOI $9,982 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$490.1K
$428.8K – $571.8K
NOI $34,306 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Vic's Garage and Towing — 2-82 Wall St, Morgantown, WV 26505
- South Park Service Center — 301 Pleasant St, Morgantown, WV 26501
- Brockway Avenue Auto Repair — 429 Brockway Ave, Morgantown, WV 26501
- Traveling Nomad's Mobile oil Changes LLC — 549 Brockway Ave Apt 1, Morgantown, WV 26501
- Ervin's Auto Repair & Towing — 55 Kingwood St, Morgantown, WV 26501
Frequently Asked Questions
What type of property is this?
Auto shop - Block building with two garage bays on a 0.25-acre lot, previously operated as an auto shop.
Where is this auto shop located?
The property is located at 778 Willey Street Morgantown, WV.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Approximately 1,700 sq ft block building on a 0.25‑acre lot; Two garage bays; previously operated as an auto shop; Additional on‑site parking for customers and staff
