Flex Space with Secure
New
For Sale
$1,600,000
Pending
1853 CHARLES TOWN Rd, Martinsburg, WV 25405
Steel-frame commercial facility combines warehouse space, offices, pull-through access, and a secured outdoor yard.
Property Size5,700 SF
Lot Size5.50 Acres
Days on Market2
Property Features for 1853 CHARLES TOWN Rd
General Information
Standard status
Pending
Size
5,700 SF
Lot size
5.50 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$10,442
Amenities
offices
break room
restroom
secure outdoor yard
overhead propane heating
HVAC
pull-through bay doors
20-foot ceilings
Building Details
Year Built
2017
Buildings
1
Units
1
Building Size
5,700 SF
Construction
steel frame
Listing Agency:
Keller Williams Flagship
(302) 387-7650
Listed By:
LUKE SCHLABACH
(302) 387-7650
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 11:14AM
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 Keller Williams Flagship
Investment Insights
Based on property information with market context.
This 2017 flex space property includes a 5,700-square-foot steel-frame building on 5.5 acres. The facility has four 16-foot pull-through bay doors, approximately 20-foot ceilings, three offices, a break room, and a restroom. Two offices are private. HVAC serves the office areas, while overhead propane units heat the warehouse. The secured outdoor yard supports vehicle parking and equipment storage, and the layout offers potential for additional office space.
The property is located at 1853 Charles Town Rd in Martinsburg, West Virginia, approximately 8 minutes from I-81, 1 minute from Route 9, and 2 minutes from the Martinsburg VA Medical Center. Its building and yard configuration accommodates a range of commercial operations requiring enclosed space and outdoor storage.
The property is located at 1853 Charles Town Rd in Martinsburg, West Virginia, approximately 8 minutes from I-81, 1 minute from Route 9, and 2 minutes from the Martinsburg VA Medical Center. Its building and yard configuration accommodates a range of commercial operations requiring enclosed space and outdoor storage.
Key Highlights
- 5.5 acres with a 5,700‑square‑foot steel‑frame building
- Four 16‑foot pull‑through bay doors and approximately 20‑foot ceilings
- Three offices, including two private offices, plus break room and restroom
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
$55,148
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
3.45%
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%
$1,102,960
$1.1M
Cap Rate 7%
$787,829
$787.8K
Cap Rate 9%
$612,756
$612.8K
Market Conditions
NOI Build-Up for 5,700 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
$85.5K $15.00/SF
− Vacancy
−$12.0K −$2.10/SF
EGI
$73.5K $12.90/SF
− OpEx
−$18.4K −$3.23/SF
NOI
$55.1K $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%
$1,102,960
Cap Rate 7%
$787,829
Cap Rate 9%
$612,756
Alternative Uses
Best Use
Office B
$787.8K
$689.4K – $919.1K
NOI $55,148 @ 7.0% cap · market cap 3.45%
Second Best
Flex RnD
$728.0K
$637.0K – $849.4K
NOI $50,962 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.03M
$902.9K – $1.20M
NOI $72,230 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 25405, WV
14,294
Population
5,917
Households
2.4
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
21.7 sq mi
ZIP Area
659
Density / Sq Mi
$90,962
Median Household Income
$45,563
Median Earnings
$1,549
Median Rent
$254,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame commercial facility combines warehouse space, offices, pull-through access, and a secured outdoor yard.
Where is this flex space located?
The property is located at 1853 CHARLES TOWN Rd Martinsburg, WV.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5.5 acres with a 5,700‑square‑foot steel‑frame building; Four 16‑foot pull‑through bay doors and approximately 20‑foot ceilings; Three offices, including two private offices, plus break room and restroom
