Medical Office Space For
For Sale
Contact for pricing
176 Health Care Ln, Martinsburg, WV 25401
Well-equipped medical office space near hospital and commuter routes.
Property Size2,200 SF
Price / SF$226.82
Days on Market736
Property Features for 176 Health Care Ln
General Information
Standard status
Active
Size
2,200 SF
Class
C
Property subtype
Office
Zoning
C
Investment Type
Owner/User
Building Details
Year Built
2009
Stories
1
Tenancy
Single
Listing Agency:
Long & Foster Real Estate, Inc. Martinsburg Foxcroft
(304) 279-3863
Listed By:
Butch Cazin · License #WV0015220
Source:
Crexi
Added: Aug 6, 2024
Changed: Aug 8
Last Checked: Aug 10 at 5:18AM
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 Long & Foster Real Estate, Inc. Martinsburg Foxcroft
Investment Insights
Based on property information with market context.
This medical office space is designed for healthcare professionals. The suite includes five exam rooms, a waiting room, two bathrooms, a kitchen, and two private offices. The property is located near a major hospital and key commuter routes, offering accessibility and visibility. The HVAC system was replaced in 2020. The property size is 2200 square feet. Annual property maintenance is $300.
Key Highlights
- Prime location near a major hospital and key commuter routes.
- Fully equipped medical office space with five exam rooms.
- Includes a comfortable waiting room, kitchen, and two private offices.
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
$21,285
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
4.27%
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%
$425,700
$425.7K
Cap Rate 7%
$304,071
$304.1K
Cap Rate 9%
$236,500
$236.5K
Market Conditions
NOI Build-Up for 2,200 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
$33.0K $15.00/SF
− Vacancy
−$4.6K −$2.10/SF
EGI
$28.4K $12.90/SF
− OpEx
−$7.1K −$3.23/SF
NOI
$21.3K $9.68/SF
Area
Berkeley County, WV
Vacancy
14.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$425,700
Cap Rate 7%
$304,071
Cap Rate 9%
$236,500
Alternative Uses
Best Use
Office B
$304.1K
$266.1K – $354.8K
NOI $21,285 @ 7.0% cap · market cap 4.27%
Second Best
Healthcare Medical
$259.4K
$227.0K – $302.6K
NOI $18,157 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$398.3K
$348.5K – $464.6K
NOI $27,878 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-equipped medical office space near hospital and commuter routes.
Where is this medical office space located?
The property is located at 176 Health Care Ln Martinsburg, WV.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime location near a major hospital and key commuter routes.; Fully equipped medical office space with **five exam rooms**.; Includes a comfortable waiting room, kitchen, and two private offices.
