Mixed-Use Property with
New
For Sale
$354,900
311-315 S RALEIGH Street, Martinsburg, WV 25401
Multi-Family, MARTINSBURG, WV
Property Size2,913 SF
Lot Size0.22 Acres
Price / SF$121.83
Days on Market5
Property Features for 311-315 S RALEIGH Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking
8
Parking features
Parking Lot
Subdivision
MARTINSBURG CITY
Elementary school district
BERKELEY COUNTY SCHOOLS
Middle school district
BERKELEY COUNTY SCHOOLS
High school district
BERKELEY COUNTY SCHOOLS
Standard status
Active
Size
2,913 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
3852
Utilities
Heating system
Zoned, Central
Cooling system
Central Air
Amenities
central heating and air
Building Details
Year built
1925
Number of units
3
Building materials
Block
Architectural style
Colonial
Listing Agency:
Coldwell Banker Premier · Coldwell Banker Real Estate
(304) 724-2000
Listed By:
Adam Miller · License #WV0029452
(304) 582-3606
Added: Oct 21
Last Checked: Oct 25 at 7:06AM
MLS# WVBE2055430
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 311-315 S Raleigh Street, this mixed-use property includes a 2,913-square-foot, two-story main building constructed in 1925. The building has residential apartments and a commercial space, with central heating and air conditioning. A detached cottage and a separate garage containing 7 storage units are also part of the property; the storage units are offered as-is.
The site includes multiple lots and a private parking area. The existing configuration also includes leased storage space and a commercial tenant.
The site includes multiple lots and a private parking area. The existing configuration also includes leased storage space and a commercial tenant.
Key Highlights
- 2,913‑square‑foot main building built in 1925
- Two‑story building with residential apartments and commercial space
- Separate garage with 7 storage units, offered 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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Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-story building combines residential apartments and commercial space with separate storage facilities and on-site 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: 2,913‑square‑foot main building built in 1925; Two‑story building with residential apartments and commercial space; Separate garage with 7 storage units, offered as‑is
