Three-dimensional reconstruction of buildings, particularly at Level of Detail 1 (LOD1), plays a crucial role in various applications such as urban planning, urban environmental studies, and designing optimized transportation networks. This study focuses on assessing the potential of LiDAR data for accurate 3D building reconstruction at LOD1 and extracting morphological features from these models. Four deep semantic segmentation models, U-Net, Attention U-Net, U-Net3+, and DeepLabV3+, were used, applying transfer learning to extract building footprints from LiDAR data. The results showed that U-Net3+ and Attention U-Net outperformed the others, achieving IoU scores of 0.833 and 0.814, respectively. Various statistical measures, including maximum, range, mode, median, and the 90th percentile, were used to estimate building heights, resulting in the generation of 3D models at LOD1. As the main contribution of the research, the impact of segmentation accuracy on the quality of 3D building modeling and the accuracy of morphological features like building area and external wall surface area was investigated. The results showed that the accuracy of building identification (segmentation performance) significantly affects the 3D model quality and the estimation of morphological features, depending on the height calculation method. Overall, the UNet3+ method, utilizing the 90th percentile and median measures, leads to accurate height estimation of buildings and the extraction of morphological features.