Mixed-Use Property with
New
For Sale
$339,000
1200 GRAZIER St, Martinsburg, WV 25404
An updated upstairs apartment and a rented garage provide two distinct components within one property.
Property Size2,980 SF
Price / SF$178.42
Days on Market2
Property Features for 1200 GRAZIER St
General Information
Standard status
Active
Size
2,980 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
repairs
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Gross Income
$30,000
Warehouse Space
1,900 SF
Taxes and HOA fees
Annual Taxes
$2,827
Building Details
Year Built
1975
Year Renovated
2024
Buildings
1
Stories
2
Building Size
2,980 SF
Listing Agency:
Blue Ribbon Realty,, LLC
Listed By:
Anselm Tamasang · License #WVS200301261
(240) 252-9940
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:08PM
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 Blue Ribbon Realty,, LLC
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Investment Insights
Based on property information with market context.
The property combines a 1,080-square-foot apartment with a 1,900-square-foot garage. The two-bedroom, one-bath apartment was renovated in August 2024, with improvements that include plumbing, electrical, HVAC, a water heater, and an architectural roof. Interior features include granite kitchen countertops, LVP flooring, wall paneling, and appliances that include a washer and dryer.
The garage has a metal roof, garage doors, an electrical panel, and baseboard heating. It is currently rented, as was the apartment during its most recent rental period. A Phase I Environmental Study has been completed. The property also includes additional deeded land and two public water hookups; the source information gives conflicting counts for the additional lots.
The garage has a metal roof, garage doors, an electrical panel, and baseboard heating. It is currently rented, as was the apartment during its most recent rental period. A Phase I Environmental Study has been completed. The property also includes additional deeded land and two public water hookups; the source information gives conflicting counts for the additional lots.
Key Highlights
- 1,080‑square‑foot apartment with 2 bedrooms and 1 bath
- Apartment renovation completed in August 2024
- 1,900‑square‑foot garage is currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,968
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,360
$259.4K
Cap Rate 7%
$185,257
$185.3K
Cap Rate 9%
$144,089
$144.1K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$22.8K $12.00/SF
− Vacancy
−$2.1K −$1.08/SF
EGI
$20.7K $10.92/SF
− OpEx
−$7.8K −$4.10/SF
NOI
$13.0K $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 Rate 5%
$259,360
Cap Rate 7%
$185,257
Cap Rate 9%
$144,089
Alternative Uses
Best Use
Mixed Use
$185.3K
$162.1K – $216.1K
NOI $12,968 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$344.0K
$301.0K – $401.3K
NOI $24,077 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 25404, WV
23,034
Population
9,973
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
37.9 sq mi
ZIP Area
608
Density / Sq Mi
$68,897
Median Household Income
$42,976
Median Earnings
$1,228
Median Rent
$226,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An updated upstairs apartment and a rented garage provide two distinct components within one property.
Where is this mixed-use property located?
The property is located at 1200 GRAZIER St Martinsburg, WV.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 1,080‑square‑foot apartment with 2 bedrooms and 1 bath; Apartment renovation completed in August 2024; 1,900‑square‑foot garage is currently rented
