Two-Story Mixed-Use
For Sale
$354,900
311-315 S RALEIGH STREET, Martinsburg, WV 25401
Includes residential apartments, commercial space, storage units, a detached cottage, and private parking.
Property Size2,913 SF
Price / SF$121.83
Days on Market49
Property Features for 311-315 S RALEIGH STREET
General Information
Standard status
Active
Size
2,913 SF
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Premier
(304) 724-2000
Listed By:
Adam Miller · License #WV0029452
(304) 582-3606
Source:
Cummingsrealtors
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 28 at 7:48AM
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 Coldwell Banker Premier
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Investment Insights
Based on property information with market context.
This mixed-use property includes a large two-story building with central heating and air, three residential apartments, and one commercial space occupied by a commercial tenant. The property also includes a detached cottage, a separate garage containing seven storage units, and a large private parking lot. The storage units are being marketed as-is.
Situated at 311-315 S Raleigh Street in downtown Martinsburg, the property combines multiple structures across separate lots. The 0.217-acre site has level terrain and significant road frontage. The main building includes a one-bedroom apartment and commercial space on the first level, with another apartment above. Constructed in 1925, the property offers a combination of residential, commercial, and storage components.
Situated at 311-315 S Raleigh Street in downtown Martinsburg, the property combines multiple structures across separate lots. The 0.217-acre site has level terrain and significant road frontage. The main building includes a one-bedroom apartment and commercial space on the first level, with another apartment above. Constructed in 1925, the property offers a combination of residential, commercial, and storage components.
Key Highlights
- Mixed‑use property with 3 residential apartments and 1 commercial tenant
- Large two‑story building with central heating and air
- Separate garage with 7 storage units, marketed as‑is
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,763
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,260
$495.3K
Cap Rate 7%
$353,757
$353.8K
Cap Rate 9%
$275,144
$275.1K
Market Conditions
NOI Build-Up for 2,913 SF
Gross rent
$38.5K $13.20/SF
− Vacancy
−$3.1K −$1.06/SF
EGI
$35.4K $12.14/SF
− OpEx
−$10.6K −$3.64/SF
NOI
$24.8K $8.50/SF
Area
Berkeley County, WV
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,260
Cap Rate 7%
$353,757
Cap Rate 9%
$275,144
Alternative Uses
Best Use
Self Storage
$353.8K
$309.5K – $412.7K
NOI $24,763 @ 7.0% cap · market cap 6.98%
Second Best
Warehouse
$291.9K
$255.4K – $340.6K
NOI $20,435 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$527.3K
$461.4K – $615.2K
NOI $36,914 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
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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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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes residential apartments, commercial space, storage units, a detached cottage, and private parking.
Where is this mixed-use property located?
The property is located at 311-315 S RALEIGH STREET Martinsburg, WV.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Mixed‑use property with 3 residential apartments and 1 commercial tenant; Large two‑story building with central heating and air; Separate garage with 7 storage units, marketed as‑is
