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

    2944 University Ave Morgantown, WV 26505

    • Strip malls
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US94-0015094
    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.

    Current Use by Public Records

    • Strip malls

    Property Details for 2944 University Ave

    Lot size
    0.28 lot acres
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    31-15- 11-0065.0000
    APU
    31151100650000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgantown
    County
    Monongalia
    State
    West Virginia
    Longitude
    -79.9647
    Latitude
    39.6499
    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
    $8,094
    $118,620
    $189,000
    $307,620
    -
    $197,700
    $315,000
    $512,700

    Comparable in this City

    • Value Estimation
      $740,000
      24.04 Acres

      1042 Suncrest Town Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 24.04 Acres
      1042 Suncrest Town Ctr Dr, Morgantown, WV 26505-1875
      View Details
    • Value Estimation
      $300,000
      0.32 Acres

      1137 Van Voorhis Rd

      SHOPPING CENTER, STRIP CENTER • 0.32 Acres
      1137 Van Voorhis Rd, Morgantown, WV 26505-0642
      View Details
    • Value Estimation
      $285,000
      0.62 Acres

      1716 Mileground Rd

      SHOPPING CENTER, STRIP CENTER • 0.62 Acres
      1716 Mileground Rd, Morgantown, WV 26505-4029
      View Details
    • Value Estimation
      $390,000
      11.53 Acres

      1756 Mileground Rd

      SHOPPING CENTER, STRIP CENTER • 11.53 Acres
      1756 Mileground Rd, Morgantown, WV 26505-0430
      View Details
    • Value Estimation
      $275,000
      0.50 Acres

      3109 University Ave

      SHOPPING CENTER, STRIP CENTER • 0.50 Acres
      3109 University Ave, Morgantown, WV 26505-0382
      View Details
    • Value Estimation
      $285,000
      0.63 Acres

      Van Voorhis Rd

      SHOPPING CENTER, STRIP CENTER • 0.63 Acres
      Van Voorhis Rd, Morgantown, WV 26505
      View Details

    Similar Nearby for Sale

    • $2,200,000
      8,000 SF

      Prime Morgantown Strip Mall

      Fully occupied strip mall in excellent condition and prime location.
      3109 University Ave, Morgantown, WV 26505
      View Details
    • $2,950,000
      11,600 SF

      Morgantown Mixed-Use Investment

      11,600 SF, 70% Occupied, Net Lease
      1053 Maple Dr, Morgantown, WV 26505
      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 St, Morgantown, WV 26505
      View Details
    • $1,500,000
      1,815 SF

      Morgantown Commercial Property on Mileground

      1.1-acre commercial property with existing building and high visibility.
      524 Mileground Rd, Morgantown, WV 26505
      View Details
    • $450,000
      2,400 SF

      University Avenue Retail/Office Opportunity

      Retail or office space with waterfront views and high visibility.
      1029 University Ave, Morgantown, WV 26505
      View Details
    • $990,000
      10,720 SF

      Downtown Morgantown Mixed-Use

      Prime location, versatile space, high visibility.
      1370 University Ave, Morgantown, WV 26505
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Retail Space Near WVU Campus

      Retail space located near West Virginia University campus.
      207 Willey St, Morgantown, WV 26505
      View Details
    • $18 SF/Yr
      28,366 SF

      The Monongahela Building

      Office space • 28,366 SF
      235 High St, Morgantown, WV 26505
      View Details
    • $13 SF/Yr
      10,720 SF

      Morgantown Commercial Gem

      Downtown Morgantown office space. High visibility.
      1370 University Ave, Morgantown, WV 26505
      View Details
    • Contact for pricing
      2,499 SF

      Turnkey Restaurant Space Near WVU

      Ground floor retail space near West Virginia University with patio.
      331 Beechurst Ave, Morgantown, WV 26505
      View Details
    • Contact for pricing
      29,113 SF

      High Street Office Space Available

      Downtown Morgantown, Flexible Suites, 16,000 SF Vacant
      496 High St, Morgantown, WV 26505
      View Details
    • $26 SF/Yr
      5,800 SF

      Morgantown Office Building

      5,800 SF Office Space Available
      699 Burroughs St, Morgantown, WV 26505
      View Details
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    2944 University Ave
    Morgantown, WV 26505
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    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
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