Mixed-Use Property with Estate
For Sale
Contact for pricing
1017 Winchester Ave, Martinsburg, WV 25401
Historic property combines residential character, accessory buildings, and mixed-use zoning within Martinsburg city limits.
Property Size3,780 SF
Lot Size2.00 Acres
Price / SF$158.47
Days on Market102
Property Features for 1017 Winchester Ave
General Information
Standard status
Active
Size
3,780 SF
Lot size
2.00 Acres
Property subtype
Mixed Use, Office, Retail, Special Purpose
Zoning
mixed uses
Building Details
Year Built
1908
Buildings
4
Listing Agency:
Samson Properties
(304) 725-1001
Listed By:
Joleen Haymaker · License #WV 0021604
Source:
Crexi
Added: May 21
Changed: Aug 29
Last Checked: Aug 29 at 10:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Samson Properties
Investment Insights
Based on property information with market context.
Built in 1908, this 3,780-square-foot property centers on a four-bedroom residence with 2 1/2 baths, formal and flexible rooms, a full-length veranda, a central staircase, vintage molding and millwork, and a dedicated bar room. The spacious attic adds another adaptable interior area, while the property’s residential character is complemented by several accessory improvements.
The 2-acre site lies along Route 11 within Martinsburg city limits and includes a tennis court, a 22,000-gallon inground swimming pool, a pool building, and a separate structure with a two-car garage and office or hobby room. A cottage is also included and could be renovated. Mixed-use zoning supports consideration of residential, commercial, or combined uses, subject to applicable approvals.
The 2-acre site lies along Route 11 within Martinsburg city limits and includes a tennis court, a 22,000-gallon inground swimming pool, a pool building, and a separate structure with a two-car garage and office or hobby room. A cottage is also included and could be renovated. Mixed-use zoning supports consideration of residential, commercial, or combined uses, subject to applicable approvals.
Key Highlights
- 1908 residence with 3,780 square feet, four bedrooms, and 2 1/2 baths
- 2‑acre property along Route 11 within Martinsburg city limits
- Mixed‑use zoning permits consideration of residential, commercial, or combined uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,799
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$515,980
$516.0K
Cap Rate 7%
$368,557
$368.6K
Cap Rate 9%
$286,656
$286.7K
Market Conditions
NOI Build-Up for 3,780 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.4K $12.00/SF
− Vacancy
−$4.1K −$1.08/SF
EGI
$41.3K $10.92/SF
− OpEx
−$15.5K −$4.10/SF
NOI
$25.8K $6.83/SF
Area
Berkeley County, WV
Vacancy
9.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$515,980
Cap Rate 7%
$368,557
Cap Rate 9%
$286,656
Alternative Uses
Best Use
Mixed Use
$368.6K
$322.5K – $430.0K
NOI $25,799 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$684.3K
$598.8K – $798.3K
NOI $47,900 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
Explore this area
Business Placement
Demographics for 25401, WV
15,086
Population
6,841
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
86%
High-School Grad
5.8 sq mi
ZIP Area
2,601
Density / Sq Mi
$49,157
Median Household Income
$33,147
Median Earnings
$1,014
Median Rent
$221,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic property combines residential character, accessory buildings, and mixed-use zoning within Martinsburg city limits.
Where is this mixed-use property located?
The property is located at 1017 Winchester Ave Martinsburg, WV.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1908 residence with 3,780 square feet, four bedrooms, and 2 1/2 baths; 2‑acre property along Route 11 within Martinsburg city limits; Mixed‑use zoning permits consideration of residential, commercial, or combined uses
