Historic McFarland House
409 S QUEEN STREET, Martinsburg, WV 25401
Georgian masterpiece with commercial kitchen, ballroom, and outdoor oasis.
Type:Commercial/Industrial
Property size:
9,000 SFLot size:
0.39 AcresPrice / SF:
$144/SF- Added:
- Sep 26, 2024
- Days on Market:
- 640
- Last Refresh:
- May 20 at 2:25 am
Property Features for 409 S QUEEN STREET
General Information
- Standard status
- Active
- Size
- 9,000 SF
- Lot size
- 0.39 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1878
Listing office Young & Associates (304) 500-7500
Listing date Sep 26, 2024
Source Exitrealty
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 Young & Associates
HighLights
- Turnkey investment opportunity: established and profitable wedding/event venue and gourmet dining location.
- Historic landmark property (McFarland House, circa 1878) with significant local recognition.
- Extensive living space (over 9,000 sq ft) with 17 rooms, including 6 bedrooms, multiple parlors and bars, and a commercial‑grade kitchen.
- Unique architectural features and meticulously preserved historic details, such as crystal chandeliers, flagstone floors, handcrafted moldings, 10+ foot ceilings, and original plaster walls.
- Expansive outdoor oasis (approx. 7000 sq ft) featuring a covered pavilion, lush landscaping, and a lawn wedding arena.
- Handicap accessibility on the main floor.
Overview
The historic "McFarland House" mansion, circa 1878, presents a rare opportunity. This Georgian architectural masterpiece and community landmark is prominently located with Queen Street frontage in the historic district of Martinsburg. The grand estate features over 9,000 sq ft of living space, coupled with an approximately 7,000 sq ft backyard oasis. The interior includes 17 rooms, featuring 6 bedrooms, adjoining atrium ballrooms with a moving glass wall system creating an expansive approximately 1800 sq ft space, multiple parlors, bars, a kitchen fully retrofitted for commercial use, an upper kitchenette, 2 full baths, 2 half baths, a laundry room, and dual interior staircases. The rear outdoor space features a large covered pavilion with flagstone floors, brick walkways, brick and stone retaining walls, and lush landscaping with electrical pre-wiring and a lawn wedding arena. Extensive renovations continue to evolve on this property, preserving the integrity of its grand architectural details, complete with crystal chandeliers, flagstone floors, hardwoods, stamped concrete, handcrafted moldings, 10+ foot ceilings, original plaster walls, grand marble bathrooms, and period-replicated custom woodwork. Modifications allow for full handicap accessibility to the main floor, offering endless commercial or residential possibilities. The property gained renowned recognition when it became known as the “McFarland House”, operating as a wedding venue, banquet, event location, and gourmet dining experience. The property is being offered for sale as a turnkey investment opportunity. The location, reputation, and heritage of the property set the groundwork for new owners to prosper.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.4k | $14.04 |
| − Vacancy | −$9.5k | −$1.05 |
| EGI | $116.9k | $12.99 |
| − OpEx | −$29.2k | −$3.25 |
| NOI | $87.7k | $9.74 |
9,000 SF · lease $14.04/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,662 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,048 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Historic McFarland House
Hotel & Motel
Dr. Michael Mccarty
Physician
Location Insight
- Map
- Local Demand
- City
- Martinsburg
- County
- Berkeley
- State
- West Virginia
- Longitude
- -77.9652
- Latitude
- 39.4531
Nearby Similar for Sale
FAQs
What type of property is this?
Wedding venue - Georgian masterpiece with commercial kitchen, ballroom, and outdoor oasis.
Where is this wedding venue located?
The property is located at 409 S QUEEN STREET Martinsburg, WV.
What is the asking price?
The asking price for this property is $1,299,990.
What are key features of this property?
This property features: Turnkey investment opportunity: established and profitable wedding/event venue and gourmet dining location.; Historic landmark property (McFarland House, circa 1878) with significant local recognition.; Extensive living space (over 9,000 sq ft) with 17 rooms, including 6 bedrooms, multiple parlors and bars, and a commercial‑grade kitchen.
