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    Turnkey Motel with 19 Rooms Title is generated by Realmo AI

    1024 Winchester Avenue, Martinsburg, WV 25401

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    For Sale
    $1,800,000

    Turnkey 19-room motel with secure after-hours check-in and dedicated parking for guests.

    Type:Commercial
    Added:
    Nov 18, 2024
    Days on Market:
    564
    Last Refresh:
    Jun 5 at 2:25 am

    Property Features for 1024 Winchester Avenue

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Diva L Bunting

    Listing agent Diva L Bunting

    Listing office Touchstone Realty,LLC

    Listing date Nov 18, 2024

    Source Deepcreeklake

    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 Touchstone Realty,LLC

    HighLights

    • 19‑room motel (Year built 1964) with a room mix of 3 King‑bed, 10 Double‑bed, and 6 Single‑bed rooms
    • Low vacancy rate of less than 2%, supporting strong year‑round occupancy
    • 20 dedicated parking spaces and two adjoining lots, including a gated rear‑lot entry
    • On‑site operations include an owner/property manager apartment, managers office, and fully equipped laundry room
    • After‑hours secure guest check‑in plus coin‑operated washers and dryers for guests
    • Upgrades include a new roof installed less than a year ago and two brand‑new tankless water heaters

    Overview

    This turnkey motel offers 19 guest rooms with a mix of 3 king-bed rooms, 10 double-bed rooms, and 6 single-bed rooms. The property includes 20 dedicated parking spaces and sits on two adjoining lots, providing room to operate and plan for expansion. A gated entry to the rear lot adds additional space for storage or future development. On-site operations are supported by a fully equipped laundry room with coin-operated washers and dryers for guests, along with an on-site apartment for an owner or property manager and a managers office. Guest check-in is designed for after-hours use with a secure system.

    The property is located on Winchester Avenue in Martinsburg, West Virginia, positioned for steady year-round demand as described in the seller’s remarks, with a vacancy rate reported at less than 2%.

    For buyers seeking a hands-on-to-passive hospitality asset, the combination of existing room configuration and operational infrastructure supports efficient day-to-day management. Recent capital improvements are included, including a new roof installed less than a year ago and two brand new tankless water heaters. The motel’s established operation also presents a potential fit for investors considering a 1031 exchange, depending on their individual timing and requirements.
    Location Intelligence

    Current Use by Public Records

    Heritage Inn Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hampton Inn Martinsburg — 975 Foxcroft Ave, Martinsburg, WV 25401
    • Hilton Garden Inn Martinsburg — 65 Priority Dr, Martinsburg, WV 25403
    • Tru by Hilton Martinsburg — 801 Snapp St, Martinsburg, WV 25401
    • Heritage Inn — 1024 Winchester Ave, Martinsburg, WV 25401
    • Economy Inn — 1620 Winchester Ave, Martinsburg, WV 25405

    Location Insight

    • Map
    • Local Demand
    City
    Martinsburg
    County
    Berkeley
    State
    West Virginia
    Longitude
    -77.981135
    Latitude
    39.443547

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    FAQs

    What type of property is this?
    Motel - Turnkey 19-room motel with secure after-hours check-in and dedicated parking for guests.
    Where is this motel located?
    The property is located at 1024 Winchester Avenue Martinsburg, WV.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: 19‑room motel (Year built 1964) with a room mix of 3 King‑bed, 10 Double‑bed, and 6 Single‑bed rooms; Low vacancy rate of less than 2%, supporting strong year‑round occupancy; 20 dedicated parking spaces and two adjoining lots, including a gated rear‑lot entry
    We can help!
    Listing Contact
    Diva L Bunting
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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