205 Bakers Ridge RdMorgantown, WV 26508

Property Details for 205 Bakers Ridge Rd

Lot size

0.64 AC

Property type

Office buildings

APN

31-18- 12-0009.0024

APU

31181200090024

Description

This exceptional 1.63-acre commercial land parcel, totaling 71,003 square feet, presents a prime development opportunity in Morgantown, West Virginia's thriving Bakers Ridge. Located at 205 Bakers Ridge Road, this property boasts a flexible C-2 zoning designation (General Commercial District), allowing for diverse commercial uses including retail, office, lab, or R&D facilities. Its strategic location within the Bakers Ridge subdivision, part of WVU's medicine campus, offers outstanding visibility and accessibility. The site benefits from its proximity to West Virginia University's campus, downtown Morgantown, JW Ruby Memorial Hospital, University High School, and major retail centers. All utilities are available on-site. The surrounding area features a robust and educated workforce, a high concentration of businesses (5,777 within a 5-mile radius), and significant consumer spending ($910,225,338 within a 5-mile radius). This presents an unparalleled chance to establish a thriving business in a high-growth, investor-friendly market with a strong daytime employment base (53,524 within a 5-mile radius) and a median income of $53,278 within a 5-mile radius. The property's location offers excellent signage opportunities and is situated in a start-up hub. This is an ideal location for a custom development project to meet specific business needs. The property is in Monongalia County, WV, zip code 26508.

• CAP approach

  CAP return

  Valuation

  6%

  $6,635,250

  6.5%

  $6,124,846

  7%

  $5,687,357

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,573,928

  Geo Method

  $5,573,928

• Alternative Use

  Use

  Valuation

  Residential

  $7,594,809

  Hospitality

  $6,956,804

  Educational

  $5,787,980

  Medical

  $5,987,037

  Retail

  $9,003,524

Location Insight

City

Morgantown

County

Monongalia

State

West Virginia

Latitude

39.6856

Longitude

-79.9238

CBSA code

34060

CBSA name

MORGANTOWN, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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