1380 Cheat Road Marketing Flyer
Located at 1380 Cheat Road, this 1.53-acre lot is comprised of two rectangular shaped parcels and located less than two miles from I-68, Exit 7. The property is situated with visibility along Cheat Road offering easy access to the interstate, WVU, Cheat Lake, shopping and more. The site is improved with one self-storage building containing 25 individual storage units and a 3,800 (+/-) square foot apartment building with two separate units. There is room for additional storage units to be added to the site.
Located at 1380 Cheat Road, this 1.53-acre lot is comprised of two rectangular shaped parcels and located less than two miles from I-68, Exit 7. The property is situated with visibility along Cheat Road offering easy access to the interstate, WVU, Cheat Lake, shopping and more. The site is improved with one self-storage building containing 25 individual storage units and a 3,800 (+/-) square foot apartment building with two separate units. There is room for additional storage units to be added to the site.
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<strong>1380</strong> CHEAT ROAD<br />
MORGANTOWN, WV 26508<br />
FOR SALE<br />
INVESTMENT PROPERTY<br />
MARKETING FLYER
PIERPONT CENTRE<br />
VENTURE DRIVE<br />
INTERSTATE 68<br />
NEAR EXIT 7<br />
HEARTLAND HOMES<br />
THE BLUFFS AT FALLING WATER<br />
<strong>1380</strong> CHEAT ROAD<br />
YOUR NEW INVESTMENT<br />
<strong>1380</strong> CHEAT ROAD<br />
MORGANTOWN, WV 26508
PROPERTY OVERVIEW / SPECIFICATIONS<br />
Introduction of the property and specifications of the buildings,<br />
utilities and directions.<br />
LOCATION AND TREND ANALYSIS / AERIAL PHOTO<br />
Detailed description, Google map photo of the location and its<br />
proximity to surrounding businesses.<br />
STATISTICS AND GROWTH PROJECTIONS<br />
Morgantown, WV population, employment, income,<br />
and a few reasons to be proud of the location.<br />
BUILDING DESCRIPTIONS / PHOTOS<br />
Descriptions of both the apartment and storage unit<br />
building with photos.<br />
EXTERIOR PHOTOS<br />
Exterior photos of the property.<br />
AERIAL PHOTOS<br />
Aerial photos of the property from various heights.
304.413.4350<br />
BlackDiamondRealty.net<br />
David Lorenze, Principal<br />
Murphy Holloway, Associate<br />
Jeff Stenger, Associate<br />
INVESTMENT PROPERTY<br />
FOR SALE<br />
<strong>1380</strong> CHEAT ROAD<br />
MORGANTOWN, WV 26508<br />
SALE PRICE / $595,000<br />
LOT SIZE / 1.53 ACRES<br />
TOTAL BUILDINGS / 2<br />
ZONING / NO ZONING RESTRICTIONS<br />
PROPERTY TYPE / INVESTMENT<br />
PROPERTY SUB-TYPE / STORAGE UNITS /<br />
APARTMENT BUILDING<br />
PROPERTY FEATURES / LOCATED CLOSE TO<br />
THE INTERSTATE, ADDITIONAL LAND FOR MORE<br />
UNITS, HIGH VISIBILITY<br />
Located at <strong>1380</strong> <strong>Cheat</strong> <strong>Road</strong>, this 1.53-acre lot is comprised of two<br />
rectangular shaped parcels and located less than two miles from I-68,<br />
Exit 7. The property is situated with visibility along <strong>Cheat</strong> <strong>Road</strong> offering<br />
easy access to the interstate, WVU, <strong>Cheat</strong> Lake, shopping and more.<br />
The site is improved with one self-storage building containing 25 individual<br />
storage units and a 3,800 (+/-) square foot apartment building<br />
with two separate units. There is room for additional storage units to<br />
be added to the site.<br />
The property is located outside the city limits of Morgantown and is positioned<br />
1.8 miles from I-68, Exit 7, 1.2 miles from the <strong>Cheat</strong> Lake and 5.5 miles from the<br />
downtown West Virginia University campus. Along I-68 near Exit 7, there is a daily<br />
traffic count of 29,447 vehicles (WVDOH, 2015). Along <strong>Cheat</strong> <strong>Road</strong>, there is a<br />
daily traffic count of 10,227 vehicles (WVDOH, 2011).<br />
02 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
PROPERTY SPECIFICATIONS<br />
SPECIFICATIONS<br />
The subject property offers one two-unit apartment building<br />
on parcel 61.8 and one storage unit building on parcel 61.7.<br />
The apartment building totals approximately 3,800 (+/-)<br />
square feet and is described as multi-storied of varying levels.<br />
Portions of the building contain basement levels, while others<br />
are over crawl space areas. The center section of the building<br />
also contains attic level areas with interior finishes. Each<br />
above grade level of the building contains a single residential<br />
rental unit with the basement being a common area.<br />
The storage unit building contains 25 total units. Twenty one<br />
units measure 10’ x 15’ and four units measure 10’ x 30’.<br />
The additional land above and below the existing storage<br />
units could be used for the construction of second and third<br />
storage buildings. The plan below shows where the buildings<br />
could be added and their approximate size.<br />
UPPER BUILDING<br />
PROPOSED 140’ x 40’<br />
INGRESS / EGRESS / PARKING<br />
This location currently offers two points of ingress and egress<br />
via public roadways (<strong>Cheat</strong> <strong>Road</strong> and Downwood Manor<br />
Drive). The parking lot is gravel and provides access to the<br />
apartment building, storage units. There is parking for<br />
roughly 8-10 cars in front of the apartment building.<br />
UTILITIES<br />
This site offers all public utilities, which include the following:<br />
electricity/power, water/sewer, gas, phone, and cable/<br />
internet. Electric is provided by Mon Power, natural gas is<br />
provided by Mountaineer Gas Company and water/sewer is<br />
provided by Morgantown Utility Board (MUB). Phone, cable<br />
and internet services are available via Comcast.<br />
LEGAL DESCRIPTION / ZONING<br />
Located outside of city limits, this property is situated within<br />
the Union District (18) of Monongalia County. The site consists<br />
of two irregular rectangular shaped parcels totaling 1.53<br />
acres. The property is identified as Union District, Map 19,<br />
Parcels 61.7 and 61.8. No zoning restrictions are imposed<br />
upon this property.<br />
EXISTING BUILDING<br />
LOWER BUILDING<br />
PROPOSED 170’ x 20’<br />
304.413. 4350<br />
03
LOCATION TREND ANALYSIS<br />
Monongalia County lies in north central West Virginia with<br />
Morgantown as the county seat and home of West Virginia<br />
University. Fall enrollment for WVU in 2017 reached over<br />
31,000 students and full-time and part-time faculty and staff<br />
has increased to over 8,100. These numbers are expected to<br />
continue to grow in 2018. Education, health services, professional<br />
and business services are all expected to grow at a<br />
particularly high rate.<br />
<strong>1380</strong><br />
CHEAT ROAD<br />
The Morgantown MSA regularly ranks on a variety of lists<br />
pointing to the area’s accomplishments in terms of growth,<br />
business development, workforce cultivation and more.<br />
Morgantown’s prominence in both of the recession-resistant<br />
sectors of higher education and health care employment is<br />
one reason for the stability in the area. The WVU Bureau of<br />
Business and Economic Research calls for “continued healthy<br />
growth” well into the future.<br />
Distance to nearby cities: Uniontown, PA - 21 miles, Fairmont, WV - 23 miles, Bridgeport, WV - 38 miles, Washington, PA - 56<br />
miles, Pittsburgh, PA - 65 miles, Wheeling, WV - 86 miles, Charleston, WV - 160 miles.<br />
04 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
GOOGLE AERIAL PHOTOS MAP<br />
The Google Map above highlights<br />
several of the most popular surrounding<br />
locations. Referenced with a yellow<br />
star, <strong>1380</strong> <strong>Cheat</strong> <strong>Road</strong> is located just 1.8<br />
miles from I-68, Exit 7 where there is a<br />
traffic count of 29,447 vehicles per day<br />
(WVDOH, 2015).<br />
<strong>Cheat</strong> Lake Elementary School<br />
Purple Cow Lounge<br />
Avery United Methodist Church<br />
Shear Creations Salon & Spa<br />
Edward Jones<br />
Farmhouse Cafe<br />
MMS Endodontic Specialist<br />
McClellan Plastic Surgery<br />
Express Employment Professionals<br />
Fox’s Pizza<br />
Fort Pierpont<br />
Planet Fitness<br />
Mon Health Wedgewood<br />
Lowe’s<br />
Shop n’ Save<br />
WVU Medicine<br />
Michael’s<br />
Pier 1 Imports<br />
<strong>Cheat</strong> Lake Urgent Care<br />
Ruby Tuesday<br />
Outback Steakhouse<br />
Wendy’s<br />
BFS Foods<br />
Holiday Inn Express, Super<br />
8 by Wyndham<br />
Clear Mountain Bank<br />
IHOP<br />
McDonald’s<br />
Urse Dodge Ram Chrysler and Fiat<br />
of Morgantown<br />
Pierpont Landings<br />
WVU Healthcare <strong>Cheat</strong> Lake Physicians<br />
304.413. 4350<br />
05
MORGANTOWN,<br />
WEST VIRGINIA<br />
Morgantown, WV excelled during The Great Recession primarily due to its strong<br />
economic job base focused on recession-resistant employment opportunities in the<br />
education, healthcare, and government sectors. Morgantown has received national<br />
recognition for its high quality of life and economic stability. Morgantown has been<br />
featured nationally in various media outlets over the past decade for its strong economy.<br />
06 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
STATISTICS AND GROWTH PROJECTIONS<br />
11.8%<br />
POPULATION INCREASE<br />
Morgantown is projected to have a total population in 2020 of 145,712. The projected<br />
population change from 2010 to 2020 is 15,384 (11.8%) (ProximityOne.com, 2017).<br />
7,000<br />
JOBS ADDED SINCE 2010<br />
Greater Morgantown Area employers have added nearly 7,000 jobs<br />
since 2010, surpassing the level observed prior to the economic<br />
downturn by more than 5% (WVU Research Corporation, 2015).<br />
OVERALL JOB<br />
GROWTH<br />
WVU Medicine is named Job Creator of the Year with over 2,000 hired in 2016.<br />
The WVU Medicine system of hospitals and clinics now has approximately 14,000<br />
employees, according to WorkForce West Virginia (Theet.com, 2016).<br />
$42,919<br />
MEDIAN HOUSEHOLD INCOME<br />
Morgantown’s MSA median household income is<br />
estimated at $42,919 (Forbes.com, 2017).<br />
NATIONAL<br />
RECOGNITION<br />
In 2011, Morgantown, West Virginia was named “#1 Small City in America”<br />
by Bizjournals.com, and the“5th Best Small Metro” by Forbes.com<br />
304.413. 4350<br />
07
APARTMENT BUILDING<br />
3,800 (+/-) SQUARE FEET<br />
The apartment building totals approximately 3,800 (+/-)<br />
square feet and is described as multi-storied of varying levels.<br />
Each above grade level of the building contains a single<br />
residential rental unit with the basement being a common<br />
area. Both residential units have all typical amenities and<br />
features, appliances and other fixtures. The main level of the<br />
building contains a two-bedroom unit and the upper level is a<br />
three bedroom unit. Both units have living areas, bedrooms, full<br />
bathrooms, storage closets and kitchen/dining areas. The flooring<br />
treatments are a mixture of laminate, carpet and ceramic<br />
tile. The walls and ceilings are sheetrock, and there are laundry<br />
facilities in each unit.<br />
Apartment Building Facing East.<br />
08 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
STORAGE UNIT BUILDING<br />
25 UNITS<br />
The existing storage unit building contains 25 total units.<br />
Twenty one units measure 10’ x 15’ and four units measure<br />
10’ x 30’. The additional land above and below the existing<br />
storage units could be used for the construction of a second<br />
and third storage building. The plan on Page 3 shows where the<br />
buildings could be added and their approximate size.<br />
Unit Interior.<br />
Storage Units South Side View.<br />
Storage Units Facing North Side View.<br />
Unit Locking System.<br />
304.413. 4350<br />
09
EXTERIOR PHOTOS<br />
Storage Units North Side View.<br />
Parking Lot/Main Entrance.<br />
Storage Units North and West Side View.<br />
10 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
Apartment Building Facing South.<br />
Apartment Building Facing East.<br />
Land for Additional Units North of Existing Units.<br />
304.413. 4350<br />
11
AERIAL PHOTOS<br />
Aerial View Facing West.<br />
Aerial View Facing North.<br />
Aerial View Facing West.<br />
12 <strong>1380</strong> CHEAT ROAD - INVESTMENT
FOR SALE<br />
INVESTMENT PROPERTY - LOCATED 1.8 MILE FROM I-68, EXIT 7<br />
<strong>1380</strong> CHEAT ROAD · MORGANTOWN, WV 26508 · STORAGE UNITS / APARTMENT BUILDING · 1.53 ACRES<br />
Aerial View Facing East.<br />
304.413. 4350<br />
13
CONTACT<br />
BLACK DIAMOND REALTY LLC<br />
1399 Stewartstown <strong>Road</strong>, Suite 300<br />
Morgantown, WV 26505<br />
P. 304.413.4350 F. 304.599.3285<br />
BlackDiamondRealty.net<br />
Mark J. Nesselroad, Broker<br />
mjnesselroad@blackdiamondrealty.net<br />
David Lorenze, Principal<br />
dlorenze@blackdiamondrealty.net<br />
Murphy Holloway, Associate<br />
mholloway@blackdiamondrealty.net<br />
Janelle Zeoli, Multimedia Specialist/Designer<br />
jzeoli@blackdiamondrealty.net<br />
* All information is believed to be accurate but not guaranteed. More information is available upon request.
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