Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    231 Walnut St Morgantown, WV 26505-5401

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    231 Walnut St Morgantown, WV 26505-5401

    View on Map
    • Office buildings
    • 0.04 lot acres
    Off-Market
    Property ID
    US94-0311454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Friendship House- Milan Puskar Health Right / Social Service Agency / Crisis Center

    Property Details for 231 Walnut St

    Lot size
    0.04 lot acres
    Property type
    Office buildings
    APN
    31-11- 26A-0124.0000
    APU
    311126A01240000

    Description

    This exceptional two-story commercial building, located at 231 Walnut Street in Morgantown, West Virginia, presents a unique opportunity for businesses seeking a prime location. The property boasts a total of 2,736 square feet, with 1,344 square feet on the first floor and 1,392 square feet on the second. Currently entirely vacant, this adaptable space is perfect for a variety of uses, from traditional office space to retail. The second floor offers flexibility, with the potential to be used as an apartment for additional income or easily converted into more office or retail space. Built in 1989 and renovated in 2024, the building is in excellent condition. Its highly visible location offers unparalleled convenience, situated within walking distance of West Virginia University's main campus, the Walnut Street PRT, and numerous amenities. The property enjoys excellent highway access, being approximately 2.5 miles from I-79, Exit 152, 3.5 miles from I-68, Exit 1, and 5 miles from I-68, Exit 7. The monthly lease rate is $1,500 plus a proportionate share of utilities. This is an ideal opportunity for a business looking to establish a strong presence in a thriving downtown area. The property is located in Monongalia County, West Virginia, zip code 26505.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morgantown
    County
    Monongalia
    State
    West Virginia
    Longitude
    -79.9553
    Latitude
    39.6296
    CBSA code
    34060
    CBSA name
    MORGANTOWN, WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,258
    $69,240
    $92,580
    $161,820
    -
    $115,400
    $154,300
    $269,700

    Comparable in this City

    • Value Estimation by Request
      0.85 Acres

      959 Hartman Run Rd

      OFFICE BUILDING • 0.85 Acres
      959 Hartman Run Rd, Morgantown, WV 26505-3791
      View Details
    • Value Estimation by Request
      0.32 Acres

      3132 Collins Fry Rd

      OFFICE BUILDING • 0.32 Acres
      3132 Collins Fry Rd, Morgantown, WV 26505-3305
      View Details
    • Value Estimation by Request
      0.03 Acres

      174 Chancery Row

      OFFICE BUILDING • 0.03 Acres
      174 Chancery Row, Morgantown, WV 26505-5406
      View Details
    • Value Estimation
      $1,925,000
      1,836 SF

      3584 Collins Fry Rd

      OFFICE BUILDING • 1,836 SF
      3584 Collins Fry Rd, Morgantown, WV 26505
      View Details
    • Value Estimation by Request
      1.14 Acres

      430 Drummond St

      OFFICE BUILDING • 1.14 Acres
      430 Drummond St, Morgantown, WV 26505-0576
      View Details
    • Value Estimation by Request
      0.62 Acres

      1714 Mileground Rd

      OFFICE BUILDING • 0.62 Acres
      1714 Mileground Rd, Morgantown, WV 26505-3753
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,784 SF

      Morgantown Office Space for Lease

      Affordable Office Space, 1784 sq ft
      1137 Van Voorhis Rd, Morgantown, WV 26505
      View Details
    • Contact for pricing
      11,600 SF

      Morgantown Commercial Property For Sale

      Commercial property in high-demand location, 70% occupied.
      1053 Maple Dr, Morgantown, WV 26505
      View Details
    • Contact for pricing
      2,000 SF

      Morgantown Office Building - Prime Location

      2,000 sq ft Office, 0.74 Acres
      2000 Hampton Ctr, Morgantown, WV 26505
      View Details
    • $1,075,000
      7,800 SF

      Spacious Office Suite in Morgantown

      Desirable office suite with ample space and convenient access.
      4000 Hampton Ctr, Morgantown, WV 26505
      View Details
    • Contact for pricing

      Prime Corner Lot in Star City

      High-visibility corner lot suitable for retail, office, or mixed-use.
      408 Boyers Ave, Morgantown, WV 26505
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Suncrest Office Space Available

      Two-story office building in the heart of Suncrest.
      699 Burroughs St, Morgantown, WV 26505
      View Details
    • Contact for pricing

      Suncrest Office Building For Rent

      Two-story office building in Morgantown's desirable Suncrest professional corridor.
      99 J D Anderson Dr, Morgantown, WV 26505
      View Details
    • Contact for pricing

      Available Office Space Near WVU

      Two-story, approximately 6,000 SF office space near West Virginia University.
      Morgantown, WV 26505
      View Details
    • Contact for pricing

      Prime Downtown Morgantown Location

      Historic building with flexible office and retail spaces for rent.
      235 High St, Morgantown, WV 26505
      View Details
    • Contact for pricing

      Downtown Morgantown Office/Retail Space

      Prime location with excellent visibility on High Street.
      496 High St, Morgantown, WV 26505
      View Details
    • Contact for pricing

      Downtown Morgantown Commercial Building

      Versatile commercial building in downtown Morgantown with parking.
      1370 University Ave, Morgantown, WV 26505
      View Details
    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.
    231 Walnut St
    Morgantown, WV 26505-5401
    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

    Thank You for Inquiry

    231 Walnut St, Morgantown, WV, 26505

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!