Self-Storage Facility with Expansion
New
For Sale
$3,000,000
1496 Files Cross Rd, Martinsburg, WV 25404
The property combines a substantial non-climate-controlled unit inventory with stated room for future expansion.
Property Size36,300 SF
Price / SF$82.64
Days on Market3
Property Features for 1496 Files Cross Rd
General Information
Standard status
Active
Size
36,300 SF
Property subtype
Self-Storage Facility
Occupancy
97%
Warehouse & Industrial
Conditioned Warehouse
No
Self-Storage Units
237
Additional Details
Cap Rate
6.2%
Amenities
Self-Storage Offering Just Outside the Washington, DC MSA with Significant Upside
36,300 Net Rentable Square Feet
237 Non-Climate Controlled Drive-Up Units
Room For Future Expansion Opportunities | Additional Expansion Space is Graded and Level with Stormwater Management In-Place
Approximately Five Miles from the Maryland Border and 60 Miles from Downtown Washington, DC
Building Details
Building Size
36,300 SF
Year Built
2007
Units
237
Listed By:
Michael Glass · License #License(s) WV: WVB260301219
(216) 264-2060
Source:
Marcusmillichap
Added: Oct 7
Last Checked: Oct 9 at 4:18PM
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 Michael Glass
Investment Insights
Based on property information with market context.
Built in 2007, this self-storage property contains 237 non-climate-controlled units totaling 36,300 net rentable square feet. The site has room for future expansion and is currently 97 percent occupied.
The facility is located in Martinsburg, West Virginia, about 60 miles from downtown Washington, DC. Approximately 7,400 cars pass the site each day.
The facility is located in Martinsburg, West Virginia, about 60 miles from downtown Washington, DC. Approximately 7,400 cars pass the site each day.
Key Highlights
- 237 non‑climate‑controlled units
- 36,300 net rentable square feet
- Currently 97 percent occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$254,646
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,092,920
$5.1M
Cap Rate 7%
$3,637,800
$3.6M
Cap Rate 9%
$2,829,400
$2.8M
Market Conditions
NOI Build-Up for 36,300 SF
Gross rent
$326.7K $9.00/SF
− Vacancy
−$27.1K −$0.75/SF
EGI
$299.6K $8.25/SF
− OpEx
−$44.9K −$1.24/SF
NOI
$254.6K $7.02/SF
Area
Berkeley County, WV
Vacancy
8.30%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,092,920
Cap Rate 7%
$3,637,800
Cap Rate 9%
$2,829,400
Alternative Uses
Best Use
Self Storage
$4.41M
$3.86M – $5.14M
NOI $308,579 @ 7.0% cap · market cap 10.29%
Second Best
Warehouse
$3.64M
$3.18M – $4.24M
NOI $254,646 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$6.57M
$5.75M – $7.67M
NOI $459,994 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
23
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - The property combines a substantial non-climate-controlled unit inventory with stated room for future expansion.
Where is this self storage facility located?
The property is located at 1496 Files Cross Rd Martinsburg, WV.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 237 non‑climate‑controlled units; 36,300 net rentable square feet; Currently 97 percent occupied
