Brick Mixed-Use
New
For Sale
$950,000
1804 W King St, Martinsburg, WV 25401
A 2012 renovation updated the brick building, which occupies a 0.48-acre parcel.
Property Size4,050 SF
Lot Size0.48 Acres
Price / SF$234.57
Days on Market3
Property Features for 1804 W King St
General Information
Standard status
Active
Size
4,050 SF
Lot size
0.48 Acres
Building Details
Year Built
2009
Year Renovated
2012
Buildings
1
Construction
brick
Listing Agency:
Gain Realty
Listed By:
Rick M Boswell III
Source:
Kableteam
Added: Sep 24
Last Checked: Sep 26 at 10:54AM
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 Gain Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains a 4,050-square-foot brick building constructed in 2009 and renovated in 2012. The parcel totals 0.48 acres. Retail, office, and mixed-use functions are identified as potential uses for the property.
Located at 1804 W King Street in Martinsburg, West Virginia, the property has no subdivision restrictions or association fees.
Located at 1804 W King Street in Martinsburg, West Virginia, the property has no subdivision restrictions or association fees.
Key Highlights
- 4,050‑square‑foot brick building
- 0.48‑acre parcel
- Built in 2009; renovated in 2012
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
$27,641
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
2.91%
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%
$552,820
$552.8K
Cap Rate 7%
$394,871
$394.9K
Cap Rate 9%
$307,122
$307.1K
Market Conditions
NOI Build-Up for 4,050 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
$48.6K $12.00/SF
− Vacancy
−$4.4K −$1.08/SF
EGI
$44.2K $10.92/SF
− OpEx
−$16.6K −$4.10/SF
NOI
$27.6K $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 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%
$552,820
Cap Rate 7%
$394,871
Cap Rate 9%
$307,122
Alternative Uses
Best Use
Mixed Use
$394.9K
$345.5K – $460.7K
NOI $27,641 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$733.2K
$641.5K – $855.4K
NOI $51,322 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A 2012 renovation updated the brick building, which occupies a 0.48-acre parcel.
Where is this mixed-use property located?
The property is located at 1804 W King St Martinsburg, WV.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,050‑square‑foot brick building; 0.48‑acre parcel; Built in 2009; renovated in 2012
