112 Waverly Street [Investment] Marketing Flyer

MARKETING FLYER
WEST VIRGINIA UNIVERSITY
MAIN CAMPUS
112 WAVERLY STREET
MORGANTOWN, WV 26505
STUDENT HOUSING INVESTMENT

EVANSDALE CAMPUS
WEST VIRGINIA UNIVERSITY
112 WAVERLY STREET
SUBJECT PROPERTY
WEST VIRGINIA UNIVERSITY
MAIN CAMPUS
DOWNTOWN
HIGH STREET
RAIL TRAIL
SCENIC WALKING TRAIL
112 WAVERLY STREET
MORGANTOWN, WV 26505

TABLE OF CONTENTS
Investment Overview
Introduction of the property including building specifications, utilities,
legal description, zoning, and parcel map.
Building Floor Plan/Photos
Floor plan and interior photos of the building and property.
Location Overview
Major local employers and a detailed description/aerial photo of the
property and its proximity to surrounding area of interest.
Demand Drivers
West Virginia University and the surrounding location.
Demographics
3, 5 and 10 mile radius demographics.
Exterior / Aerial Photos
Exterior and aerial photos of the property from different heights and angles.
02
06
10
12
14
16

INVESTMENT OVERVIEW
112 WAVERLY STREET
MORGANTOWN, WV 26505
SALE PRICE / $680,000
CAP RATE / 9.03%
GROSS BUILDING SIZE / 6,264 SQ FT
GROSS LOT SIZE / 0.23 ACRE
TENANT / 15 SIGNED LEASES FOR 2023-2024 TERM
Black Diamond Realty is pleased to present 112 Waverly
Street, a non-traditional, split-level, student housing building
comprised of 6,264 (+/-) square feet across four floors on 0.23
(+/-) acre of land. This property currently has 15 signed leases
for the 2023-2024 term.
The property is located inside the city limits of Morgantown and is within
walking distance to many amenities including the West Virginia University
main campus, the PRT, shopping and more. The property is positioned
roughly 2.5 miles from I-79, Exit 152, 3.5 miles from I-68, Exit 1, and
5 miles from I-68, Exit 7.
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

WVU COLISEUM
EVANSDALE CAMPUS
112 WAVERLY STREET
WVU MAIN CAMPUS
DOWNTOWN
Aerial View Facing Downtown and Westover
BLACK DIAMOND REALTY
03

BUILDING SPECIFICATIONS
Built in 1965, the subject building is a non-traditional, split-level home
comprised of 6,264 (+/-) square feet across four floors. Within the past
decade, Seller has completed many capital improvement projects at the
house including a new roof, exterior siding, new windows, new floor covering,
refresh of bathrooms and walls, and periodic painting within the building.
The exterior of the building has a brick front and a mixture of brick and vinyl
siding. The roof is composition shingle. The immediate surroundings of the
subject property are residential in nature being primarily student housing for
West Virginia University. The building offers fire doors in halls and bedrooms
and wired smoke alarms/central fire alarm system.
UTILITIES
All public utilities are available to the site. Electric is three-phase.
UTILITY
Electric
Natural Gas
Water
Sewer
Trash
Cable/Internet
PROVIDER
Mon Power
Hope Gas
Morgantown Utility Board (MUB)
Morgantown Utility Board (MUB)
Republic
Xfinity
LEGAL DESCRIPTION / ZONING
Located inside of city limits, this property is situated within the Morgantown
5th Ward Corp District (13) of Monongalia County. The site is comprised of
one (1) irregular shaped parcel of land totaling 0.23 acre. The property is
identified as Morgantown 5th Ward Corp District, Tax Map 20, Parcel 593.
This can be referenced in Deed Book 1410, Page 634. The property is zoned
R-2 Residential.
Detailed financial and lease information is available
upon receipt of executed Confidentiality & Non-
Disclosure Agreement.
Please submit completed CNDA's to David Lorenze at
dlorenze@blackdiamondrealty.net or contact Black
Diamond Realty at 304.413.4350.
A CNDA can also be forwarded via DocuSign for
electronic signing convenience. You may indicate
that preference via email.
INGRESS / EGRESS / PARKING
The subject property is located within a primarily residential area and has
93’ of frontage along Waverly Street. There is one point of ingress and egress
via Waverly Street which provides access to the building. Parking is available
directly in front of the building, along the side of the building and around the
back of the building. The gravel parking area offers space for roughly 20 (+/-)
vehicles to park.
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

PARCEL MAP

6,264 (+/-) SQUARE FEET
Built in 1965, the subject building is a non-traditional, split-level home
comprised of 6,264 (+/-) square feet across four floors. The house offers a
kitchen, gathering room, meeting room, 11 bedrooms, six full bathrooms, and
plenty of closets for storage. The main entrance to the house has a covered
front porch. There is a fire escape located at the rear of the building. The floor
plan shown below represents all levels of the home.
Finishes to the space include drywall/paneling walls, a combination of
resilient and carpet flooring and fluorescent lighting. Upgrades to the building
include all new exterior siding, new windows and doors. All bathrooms
have also been renovated with ceramic tile floors and walls.
06
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

Living Room.
Kitchen.
Gathering Room.
Bedroom.
07

Hallway.
Bedroom.
Bedroom.
Bathroom.
08
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

Hallway.
Bedroom.
Bedroom.
Furnace Room / Laundry Room.
09

LOCATION OVERVIEW
MONONGALIA COUNTY
Monongalia County lies in north central West Virginia with Morgantown
as the county seat and home of West Virginia University. The Morgantown
MSA regularly ranks a variety of lists pointing to the area’s accomplishments
in terms of growth, business development, workforce cultivation and more.
Morgantown’s prominence in both of the recession-resistant sectors of
higher education and health care employment is one reason for the stability
in the area. The WVU Bureau of Business and Economic Research calls for
“continued healthy growth” well into the future.
Monongalia County has a total population of 103,960 and a median
household income of $55,376. Total number of businesses is 3,881.
The City of Morgantown has a total population of 31,050 and a median
household income of $37,549. Total number of businesses is 1,460.
Data/maps provided by Esri, Esri and Bureau of Labor Statistics, Esri and Data Axle, 2021.
DRIVE TIME
Distance to nearby cities: Fairmont, WV - 20 miles, Uniontown, PA - 28
miles, Bridgeport, WV - 35 miles, Washington, PA - 47 miles, Pittsburgh,
PA - 70 miles, Wheeling, WV - 86 miles, Charleston, WV - 156 miles.
Monongalia County, WV
Morgantown City Limits
Subject Location
10
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

The aerial photo above highlights
several of the most popular
surrounding locations. The
subject property has been
referenced with a yellow star.
Walnut PRT Station
Beechurst PRT Station
Mountain Line Bus Stop
Westover Area
Sheetz
Morgantown Chamber of Commerce
Black Bear Burritos
Monongalia Magistrate
Iron Horse Tavern
Huntington Bank
Dollar General
Monongalia County Clerk
Boston Beanery
Subway
Lotsa Stone Fired Pizza
Public Safety Center
Morgantown Public Library
Morgantown Municipal Building
Morgantown Farmers Market
BB&T Bank
Panera Bread
CVS
WV Junior College
Downtown Campus Library
Mountainlair
West Virginia University
Main Campus
University Place Housing
State On Campus Housing
Wharf District Parking Garage
Oliverio’s Ristorante
Mountain State Brewing
Adams Legal Group, PLLC
WVU Evansdale Campus
Morgantown High School
Fred L. Jenkins Funeral
Home
Monongalia County
Schools
Department of Health
and Human Resources
Child Support
Enforcement Division
11

DEMAND DRIVERS
WVU Main Campus - Morgantown, WV
West Virginia University is a family of distinctive campuses united by a single mission. From the groundbreaking
research of the flagship in Morgantown to the liberal arts hub of WVU Potomac State in Keyser to the
technology-intensive programs at WVU Tech in Beckley — they are leveraging their talents and resources
to create a better future for West Virginia and the world. WVU is ranked as a Research University (Highest
2
Research Activity) – R1 – in the 2015 Carnegie Classification of Institutions of Higher Education.
The WVU Morgantown campuses are located in a town named “No. 1 Small City in America” by BizJournals.
com for its exceptional quality of life. Morgantown, population 30,855, was also rated the ninth best college
town in America by Business Insider and is within easy traveling distance of Washington, D.C., to the east,
Pittsburgh, Pa., to the north, and Cleveland and Columbus, Ohio, to the northwest. Other rankings: Kiplinger.com
included Morgantown in their 10 great places to live list; one of “Best Sports Cities” by Sporting News; 5th
“Best Small Metro” by Forbes; 12th overall “Hottest Small City” by Inc.; one of “50 Smartest Places to
2
Live” by Kiplinger’s; and the second-ranking “Best College Town for Jobs” by Forbes.
Students at the Morgantown campus come from 108 nations, all 50 U.S. states and all 55 West Virginia
counties; 13,986 are West Virginia residents. In fall 2019, WVU’s Morgantown campuses enrolled
roughly 30,000 students. 2
WVU Medicine, the affiliated academic medical system of West Virginia University, unites the clinical and
research faculty of the West Virginia University Health Sciences Center with the hospitals, clinics, and health
professionals of the West Virginia University Health System. Together, they are a national leader in patient
safety and quality, they are unified and driven by a passion to provide the most advanced healthcare possible
to the people of West Virginia and the world.
3
WVU Football - Milan Puskar Stadium
WVU Medicine - Ruby Memorial Hospital
SOURCES
2 - https://www.wvu.edu/
3 - https://wvumedicine.org/about/
12 112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

SHOPPING
RESTAURANTS
• Morgantown has a wide variety of big box retailers plus locally owned
merchants. Find men, women and children’s clothing/accessory stores,
housewares, hard goods, soft goods and more at local malls and shopping
centers including the University Town Centre, Gateway, Suncrest Towne
Centre, Pierpont Centre, Morgantown Mall, and Wesmon Plaza.
• Choose from numerous supermarket options in Morgantown including
Sam’s Club, Walmart Supercenter, Kroger, Aldi, Giant Eagle and local
organic markets.
• Throughout Morgantown, upscale and casual dining options coexist with
neighborhood bistros, family-owned eateries, national chains and spirited
pubs and tastes from around the world.
• Top restaurants in Morgantown voted by locals include: Black Bear, Mario’s
Fish Bowl, Iron Horse, Table 9, Sargasso. Other popular establishments
include Stefano’s, Kegler’s, The Wine
Bar, Crab Shack Cariba and Mountaineer Tap House.
TRANSPORTATION
ENTERTAINMENT
• Mountain Line is the town’s bus service, and is free for faculty, staff and
students with a valid WVU ID. The cost for non-WVU users is 75 cents per ride.
The Mountain Line offers WVU specific routes, city/county routes and routes
to Pittsburgh.
• Morgantown offers access to a variety of taxi services and Uber and Lyft
drivers as an alternate means of transportation.
• Located only seven minutes from WVU Main campus, Morgantown
Municipal Airport (MGW) currently offers daily flights to Baltimore-
Washington International (BWI) in Maryland and Pittsburgh International
Airport in Pennsylvania accessing nearly 1,000 connecting flights to
domestic and international destinations.
• Morgantown offers a variety of events and entertainment opportunities year
round including WVU football games, WVU basketball games, baseball
games at the new WV Black Bears ball park, live concerts and more.
• A significant nightlife presence is concentrated in downtown Morgantown.
Multiple bars offer evening happy hour drink and dinner specials, as well as
nightly live music, karaoke, trivia and more.
• Other entertainment options include a bowling alley, Regal movie theatre,
golf courses, walking and biking nature trails, fishing and boating on Cheat
Lake and more.
BLACK DIAMOND REALTY
13

DEMOGRAPHICS / KEY FACTS
3 MILE RADIUS
60,480 2,847 79,223 $233,545 $36,384 $50,097 0.27% 26.0
Total
Population
Businesses
Daytime
Population
Median Home
Value
Per Capita
Income
Median
Household
Income
2020-2022
Pop Growth
Rate
Median Age
KEY SPENDING FACTS
$2,500
$2,128
$2,000
$2,020
$2,888
$1,500
$1,000
$500
$886
$592
$0
Travel Transportation Apparel Entertainment Furniture
14 112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

These infographics contain data provided by Esri, Esri and Bureau of Labor Statistics Esri and Data Axle.
The vintage of the data is 2022, 2027. Spending facts are average annual dollar per household.
5 MILE RADIUS 10 MILE RADIUS
80,792 3,513 97,582 $240,503 109,152 4,030 119,286 $241,978
Total
Population
Businesses
Daytime
Population
Median Home
Value
Total
Population
Businesses
Daytime
Population
Median Home
Value
$39,716 $57,767 0.53% 28.5 $41,252 $62,324 0.57% 31.9
Per Capita
Income
Median
Household
Income
2020-2022
Pop Growth
Rate
Median Age
Per Capita
Income
Median
Household
Income
2020-2022
Pop Growth
Rate
Median Age
KEY SPENDING FACTS
KEY SPENDING FACTS
$3,219
$3,475
8
$3,000 $3,000
$2,400 $2,543
$2,207 $2,307
$2,000 $2,000
$1,000
$991 $1,037
$655
$1,000
$693
$0 $0
Travel Transportation Apparel Entertainment Furniture
Travel
Transportation
Apparel
Entertainment
Furniture
BLACK DIAMOND REALTY
15

Front of Building.
16
112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

Side of Building.
*Boundaries are approximate
Back of Building.
Aerial Overhead View.
BLACK DIAMOND REALTY
17

RAIL TRAIL
SCENIC WALKING TRAIL
DOWNTOWN
HIGH STREET
WEST VIRGINIA UNIVERSITY
MAIN CAMPUS
112 WAVERLY STREET
Aerial View Facing South.
18 112 WAVERLY STREET • STUDENT HOUSING • INVESTMENT • MORGANTOWN, WV

112 WAVERLY STREET
Aerial View Facing East.
BLACK DIAMOND REALTY
19

FINANCIAL INFORMATION
Financial information is available upon
request and receipt of a signed Confidentiality
& Non-Disclosure Agreement.
CONTACT
BLACK DIAMOND REALTY LLC
1399 Stewartstown Road, Suite 150
Morgantown, WV 26505
P. 304.413.4350 | F. 304.599.3285
BlackDiamondRealty.net
PRIMARY CONTACT
David Lorenze, Principal
M. 304.685.3092
dlorenze@blackdiamondrealty.net
SECONDARY CONTACT
Caleb Wooldridge, Associate
M. 681.209.6619
cwooldridge@blackdiamondrealty.net