Versatile Commercial Property on Winchester
For Sale
Contact for pricing
1886 Winchester Ave, Martinsburg, WV 25405
Three buildings on 0.90 acres, high-traffic area, endless possibilities.
Property Size10,300 SF
Lot Size0.90 Acres
Price / SF$87.37
Days on Market150
Property Features for 1886 Winchester Ave
General Information
Standard status
Active
Size
10,300 SF
Lot size
0.90 Acres
Property subtype
Mixed Use
Listing Agency:
Hoffman Realty
(304) 671-4839
Listed By:
Sarah Combs · License #WV B220300874
Source:
Crexi
Added: Mar 30
Changed: Aug 26
Last Checked: Aug 25 at 5:10PM
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 Hoffman Realty
Investment Insights
Based on property information with market context.
This commercial property features over 10,000 square feet of space distributed across three buildings, situated on approximately 0.90 acres. The property is located in a high-traffic area, offering visibility and accessibility, and is near major employers such as Procter & Gamble and Clorox, as well as I81 and Rt 9. The main building provides approximately 7,000 square feet suitable for various business operations. A rear shop offers an additional 2,500 square feet, which can be used for storage, production, or as a workshop. There is also a separate 800-square-foot garage. The property was previously used as a tire and auto body shop, and it presents opportunities for investors or business owners looking to expand or establish a presence in a commercial corridor.
Key Highlights
- High‑traffic location offering excellent visibility and accessibility.
- Over 10,000 sq ft across three buildings.
- Proximity to major employers and transportation.
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
$72,255
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
8.03%
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%
$1,445,100
$1.4M
Cap Rate 7%
$1,032,214
$1.0M
Cap Rate 9%
$802,833
$802.8K
Market Conditions
NOI Build-Up for 10,300 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
$92.7K $9.00/SF
− Vacancy
−$7.7K −$0.75/SF
EGI
$85.0K $8.25/SF
− OpEx
−$12.8K −$1.24/SF
NOI
$72.3K $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 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%
$1,445,100
Cap Rate 7%
$1,032,214
Cap Rate 9%
$802,833
Alternative Uses
Best Use
Warehouse
$1.03M
$903.2K – $1.20M
NOI $72,255 @ 7.0% cap · market cap 8.03%
Second Best
Mixed Use
$1.00M
$878.7K – $1.17M
NOI $70,298 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,522 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three buildings on 0.90 acres, high-traffic area, endless possibilities.
Where is this mixed-use property located?
The property is located at 1886 Winchester Ave Martinsburg, WV.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: High‑traffic location offering excellent visibility and accessibility.; Over 10,000 sq ft across three buildings.; Proximity to major employers and transportation.
