Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Nolan Ave Morgantown, WV 26501

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Vacant land with frontage on Route 7, suitable for redevelopment.

    Type:Land
    Lot size:
    0.73 Acres
    Added:
    Apr 26, 2023
    Days on Market:
    1095
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for Nolan Ave

    General Information

    Standard status
    Active
    Lot size
    0.73 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Kay Michael Alexander

    Listing agent Kay Michael Alexander License #WV 0017400

    Listing office Howard Hanna Real Estate Services Inc Morgantown

    Listing date Apr 26, 2023

    Source Crexi

    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 Howard Hanna Real Estate Services Inc Morgantown

    Overview

    Commercial Land Along Route 7

    This commercial land is zoned for business and situated along Route 7, conveniently located between Downtown and Sabraton. The property features level terrain and approximately 130 feet of frontage. Adjacent to a Pizza Hut, the site comprises three parcels of vacant land, totaling approximately 0.73 acres. It includes taps for 9 mobile homes and is intended for redevelopment.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Morgantown
    County
    Monongalia
    State
    West Virginia
    Longitude
    -79.9182
    Latitude
    39.5846

    Nearby Similar for Sale

    • $1,500,000
      10,296 SF

      Fully Leased Morgantown Office Building

      Exceptional commercial office building in Cheat Lake, fully leased.
      230-270 Lakewood Center, Morgantown, WV 26508
      View Details
    • $2,999,999
      8,610 SF

      Morgantown Commercial Land For Sale

      6.40-acre commercial land with high traffic and utilities.
      0 Mileground Road, Morgantown, WV 26505
      View Details
    • $2,200,000
      8,000 SF

      Prime Morgantown Strip Mall

      Fully occupied strip mall in excellent condition and prime location.
      3109 University Avenue, Morgantown, WV 26505
      View Details
    • $1,650,000

      Commercial Land in Suncrest Area

      Rare commercial opportunity in high-density Morgantown location near amenities.
      337 Patteson Drive, Morgantown, WV 26505
      View Details
    • $399,000

      Commercial Land in Morgantown, WV

      Commercial land available along Route 7 between Downtown and Sabraton.
      301,307 and 317 E Brockway Avenue, Morgantown, WV 26505
      View Details
    • $1,625,000
      12,477 SF

      Historic Morgantown Mixed-Use Property

      Fully leased mixed-use property with restaurant and apartments in Morgantown.
      156 Clay Street, Morgantown, WV 26501
      View Details
    • $299,900
      4,800 SF

      Turnkey Bar/Restaurant Business Opportunity

      Established Morgantown bar/restaurant business for sale with equipment and license.
      325 High Street, Morgantown, WV 26505
      View Details
    • $700,000
      5,180 SF

      Morgantown Mixed-Use Corner Lot

      Commercial building on busy corner lot, suitable for various businesses.
      1433 Dorsey Avenue, Morgantown, WV 26501
      View Details
    • $575,000
      7,392 SF

      Historic Mixed-Use Building in Morgantown

      Historic building with retail space and remodeled apartments in downtown.
      220-222 Pleasant Street, Morgantown, WV 26505
      View Details
    • $450,000

      Scenic Wooded Land Near Morgantown

      42+/- acres of wooded land near Morgantown with utilities.
      2000 Kingwood Pike, Morgantown, WV 26508
      View Details
    • $449,000

      Morgantown Commercial Land Opportunity

      4.73-acre tract ideal for commercial or mixed-use development.
      0 Shriners Drive, Morgantown, WV 26508
      View Details
    • $19,900

      Morgantown Vacant Land For Sale

      1.39 acres of land with development potential in Morgantown.
      0 Five Forks Drive, Morgantown, WV 26508
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant land with frontage on Route 7, suitable for redevelopment.
    Where is this commercial land located?
    The property is located at Nolan Ave Morgantown, WV.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Zoned for Business along Route 7, offering high visibility and commercial potential.; Level land with approximately 130 feet of frontage, providing ease of development and street exposure.; Strategic location between Downtown and Sabraton, ensuring accessibility and traffic flow.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kay Michael Alexander
    Real Estate License ID: WV 0017400
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!