709 Beechurst Ave, Morgantown, WV 26505

Property Details for 709 Beechurst Ave

Year built

1895

Lot size

2.13 lot acres

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents the Seneca Center, a 46,460-square-foot shopping center in Morgantown, West Virginia. Located at 709 Beechurst Ave, this historically significant property, listed on the National Register of Historic Places, boasts 25 individual retail suites within a beautifully preserved 1895 structure. The building, constructed of 8x8 American Chestnut post and beam, features brick-lined walls and original wooden floors, creating a unique and charming atmosphere. The property includes 120 parking spaces on a 2.13-acre lot situated on a main thoroughfare, just a short distance from West Virginia University's John Chambers College of Business and Economics. The center is fully occupied (100%) by a mix of high-end, financially strong retail tenants with short-term leases, offering significant upside potential. Extensive renovations have been completed, including remediation for lead paint and asbestos, upgraded utility entrances (2 water meters, 2 gas meters, 11 three-phase electric meters), a fire suppression system, electronic fire alarm, and surveillance cameras. A new steel roof covers 30,000 square feet. Comprehensive environmental analysis (Phase I and II) by Steptoe Environmental confirms no restrictions. The property also benefits from available Historic Preservation Tax Credits, renewable upon change of ownership. This is a rare chance to acquire a landmark property with strong cash flow and significant long-term growth potential. The asking price is $1,900,000. The property features a 52,650 total square footage, with a two-story building and commercial zoning. The APN is 12-15-01960000.

Location Insight

City

Morgantown

County

Monongalia

State

West Virginia

Longitude

-79.962

Latitude

39.641