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    967 Grafton Rd Morgantown, WV 26508
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    967 Grafton Rd Morgantown, WV 26508

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    • Land
    For Sale
    $1,725,000
    View Listing →
    37.8 Acres Raw Land For Sale
    $1,725,000
    37.81 Acres

    37.8 Acres Raw Land

    Raw land with excellent visibility and development potential.

    967 Grafton Rd, Morgantown, WV 26508
    View Listing
    Property ID
    US94-0496930
    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

    • Land

    Property Details for 967 Grafton Rd

    Property type
    Land

    Description

    Situated approximately 0.65 mile south of I-68, Exit 1, 967 Grafton Road offers four parcels of raw land consisting of 37.806 (+/-) acres. The subject property features two residential structures and flexible storage/garage facilities. Its frontage along Grafton Road, Route 119 ensures excellent visibility and accessibility. The landscape includes sloping hills and a mix of both cleared and densely wooded areas. The subject property is conveniently positioned near various amenities with quick and easy interstate access. Surrounded by residential properties, this land offers significant potential for development. This property is located approximately 0.65 mile off I-68, Exit 1, and 2 miles from the I-68/I-79 interchange. Along Grafton Road, there is a traffic count of 10,112 vehicles per day (2021). Source: ©2023 Kalibrate Technologies (Q4 2023).

    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
    -79.9488595
    Latitude
    39.5754928

    Comparable in this City

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    • $74,900
      9.49 Acres

      9.49 Acres Vacant Land

      9.49± acres of land in a rural setting.
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      3.27 Acres

      Morgantown Vacant Land For Sale

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    • $119,900
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      Residential Land in Gated Community

      Residential land in Morgantown, WV, with underground utilities.
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    Similar Nearby for Sale

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      Morgantown Land with Acreage

      43+ acres of land near I-79 in Morgantown, WV.
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      3.27 Acres

      Morgantown Vacant Land For Sale

      3.27 +/- acres in Cheat Lake area, Morgantown, WV.
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    • $74,900
      9.49 Acres

      9.49 Acres Vacant Land

      9.49± acres of land in a rural setting.
      2998 Owl Creek Rd, Morgantown, WV 26508
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    • $875,000
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      Expansive Wooded Land in Morgantown

      145+/- acres of wooded land with development potential.
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      View Details
    • $99,000
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      Morgantown Land With No Zoning

      Four acres of wooded land near Summit, Woodlands, Forks of Cheat.
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    • $875,000
      25.11 Acres

      Residential Land Near Morgantown

      25.11 acres suitable for development or dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      25,000 SF

      Morgantown Office Space Available

      25,000 square foot office space for rent in Morgantown.
      423 Fortress Blvd, Morgantown, WV 26508
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      Move-in-Ready Office Suite Available

      Office suite with conference room, kitchenette, and private entrance.
      304 Scott Ave, Morgantown, WV 26508
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      New Industrial Building Near I-68

      Newly built industrial building with one remaining suite for lease.
      1700 Grafton Rd, Morgantown, WV 26508
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    • 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
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    Morgantown, WV 26508
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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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    967 Grafton Rd, Morgantown, WV, 26508
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