Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    709 Greenbag Rd, Unit 2 Morgantown, WV 26508-1589

    • Office Properties & Spaces
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2024
    $445,000
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US94-0306836
    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

    • Office Properties & Spaces

    Property Details for 709 Greenbag Rd

    Lot size
    0.04 lot acres
    Property type
    Office Properties & Spaces
    APN
    31-08- 10M-0037.0002
    APU
    310810M00370002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $450,000
      ML approach
      $435,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgantown
    County
    Monongalia
    State
    West Virginia
    Longitude
    -79.9413
    Latitude
    39.6106
    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
    $2,344
    $80
    $109,920
    $110,000
    -
    $100
    $183,200
    $183,300

    Comparable in this City

    • Value Estimation
      $265,000
      0.20 Acres

      Coombs Farm Dr

      CONDOMINIUM OFFICES • 0.20 Acres
      Coombs Farm Dr, Morgantown, WV 26508
      View Details
    • Value Estimation
      $285,000
      0.03 Acres

      2000 Coombs Farm Rd

      CONDOMINIUM OFFICES • 0.03 Acres
      2000 Coombs Farm Rd, Morgantown, WV 26508-0053
      View Details
    • Value Estimation
      $270,000
      0.03 Acres

      1000 Coombs Farm Rd Ste, Unit 106

      CONDOMINIUM OFFICES • 0.03 Acres
      1000 Coombs Farm Rd Ste, Morgantown, WV 26508-1111
      View Details
    • Value Estimation
      $275,000
      0.06 Acres

      909 Greenbag Rd, Unit 2

      CONDOMINIUM OFFICES • 0.06 Acres
      909 Greenbag Rd, Morgantown, WV 26508-1504
      View Details
    • Value Estimation
      $265,000
      0.20 Acres

      Coombs Farm Dr

      CONDOMINIUM OFFICES • 0.20 Acres
      Coombs Farm Dr, Morgantown, WV 26508
      View Details
    • Value Estimation
      $260,000
      0.00 Acres

      2201 About Town Pl7b

      CONDOMINIUM OFFICES • 0.00 Acres
      2201 About Town Pl7b, Morgantown, WV 26508-5833
      View Details

    Similar Nearby for Sale

    • $9,050,000
      28,841 SF

      Morgantown Investment Property

      Fully Leased, High-Cap Rate Office Complex
      3313 4H Camp Rd, Morgantown, WV 26508
      View Details
    • $400,000
      1.63 Acres

      Bakers Ridge Development Land

      Prime Morgantown location, 1.63 acres, 71,000 SF.
      205 Bakers Ridge Rd, Morgantown, WV 26508
      View Details
    • $1,500,000
      4,070 SF

      Premium Freestanding Office Building

      Well-maintained medical office building in Cheat Lake area.
      2199 Cheat Rd, Morgantown, WV 26508
      View Details
    • $349,800
      5,051 SF

      Morgantown Commercial Space For Sale

      5,051+/- sqft commercial space with 22 office suites.
      1253 Canyon Rd, Morgantown, WV 26508
      View Details
    • $2,500,000
      41,600 SF

      Morgantown Commercial Property on 7 Acres

      Large commercial property with flexible buildings in a rapidly developing area.
      951 Point Marion Rd, Morgantown, WV 26508
      View Details
    • $1,850,000
      10,296 SF

      Fully Leased Morgantown Office Building

      Exceptional commercial office building in Cheat Lake, fully leased.
      230-270 Lakewood Ctr, Morgantown, WV 26508
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,450 SF

      1409 Grn Bag Rd

      Individual retail properties • 2,450 SF
      1409 Grn Bag Rd, Morgantown, WV 26508
      View Details
    • Contact for pricing
      111,162 SF

      Morgantown Retail Center Investment

      High-traffic shopping center, space available
      I-68 E & Cheat Rd, Morgantown, WV 26508
      View Details
    • Contact for pricing
      71,003 SF

      Bakers Ridge Commercial Land

      Morgantown, WV development opportunity
      205 Bakers Ridge Rd, Morgantown, WV 26508
      View Details
    • $14 SF/Yr
      12,000 SF

      Grafton Road Industrial Suites

      Modern Morgantown industrial space, 2,400-9,600 SF.
      1700 Grafton Rd, Morgantown, WV 26508
      View Details
    • Contact for pricing
      1,150 SF

      Turnkey Salon Spaces Available

      Retail spaces available, fully equipped for hair and nail salons.
      100 Hornbeck Rd, Morgantown, WV 26508
      View Details
    • Contact for pricing
      140,917 SF

      Morgantown Commons Retail Space

      Prime Morgantown retail space available.
      6500 Mall Rd, Brookhaven, WV 26508
      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.
    709 Greenbag Rd, Unit 2
    Morgantown, WV 26508-1589
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.