CVS Pharmacy 496 High St 29,113 SF 100% Leased Retail Building Morgantown, WV 26505 $15,000,000 ($515.23/SF) 6.20% Cap Rate

Those in the know say that this CVS Pharmacy, built in 2017, is the Number 1 CVS Pharmacy west of the Mississippi. Four factors for its triumphant status are as follows: (1) it is across the street from West Virginia University (WVU), a student body of 26,269 students and 7,000 employees; (2) it sells liquor: (3) located on High Street, which is known as the best retail street with bars and restaurants in Morgantown - packed in the evenings and weekends with college students; (4) stellar pedestrian count of 17,000 per day.
Attached to the CVS is a turn-key two-story building that has primarily been occupied by Truist Bank. Truist Bank has built their own branch adjacent to the subject property and has been vacating the subject
property in stages to fill the adjacent branch. Currently, Truist Bank has three years left on their lease for one of the floors; however, they vacated this space in July 2025. The new owner can either collect rent on this space for 3 years or be bought out of the lease by Truist.
The current owner is leaving the old Truist space vacant for the new owner to provide an added value opportunity. The old Truist space consists of two-floors, turn-key condition, built in 1985, 8,000 SF for each floor, equating 16,000 SF plus 169 SF currently being used as a Truist ATM. In speaking with the City of Morgantown, they appear to be flexible on approving different uses, even if it requires a CUP. Since many property owners on High Street have added off-campus housing to their properties, this is one avenue a new owner can take to add value to the investment. Other ideas are to keep it as an office building, convert it to creative office, convert it to an apartment or condo building, convert it to retail and potentially other uses.