Martinsburg Commercial Building For
For Sale
$550,000
824 N QUEEN St, Martinsburg, WV 25404
6,600 sq ft commercial building suitable for retail, office, mixed-use.
Property Size6,600 SF
Lot Size0.19 Acres
Price / SF$83.33
Days on Market150
Property Features for 824 N QUEEN St
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.19 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,975
Building Details
Year Built
1920
Listing Agency:
Samson Properties
(304) 620-8887
Listed By:
Ya Ling Chen · License #WVS190300762
(304) 620-8887
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 8 at 2:17PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 6,600 sq ft commercial building, located at 824 N Queen St, Martinsburg, WV 25404, is available for sale. It is suitable for retail, office, or mixed-use purposes. The property offers excellent visibility and convenient access in a well-traveled area of Martinsburg. The flexible layout allows for a variety of business uses, making it ideal for professional offices, medical, retail, or service-based operations. There is ample space to customize the building to specific business needs. It is located in a growing commercial corridor.
Key Highlights
- 6,600 sq ft commercial building suitable for retail, office, or mixed‑use.
- Excellent visibility in a well‑traveled area.
- Flexible layout suitable for various business types (professional offices, medical, retail, service‑based).
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
$45,045
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
8.19%
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%
$900,900
$900.9K
Cap Rate 7%
$643,500
$643.5K
Cap Rate 9%
$500,500
$500.5K
Market Conditions
NOI Build-Up for 6,600 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
$79.2K $12.00/SF
− Vacancy
−$7.1K −$1.08/SF
EGI
$72.1K $10.92/SF
− OpEx
−$27.0K −$4.10/SF
NOI
$45.0K $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%
$900,900
Cap Rate 7%
$643,500
Cap Rate 9%
$500,500
Alternative Uses
Best Use
Office B
$912.2K
$798.2K – $1.06M
NOI $63,855 @ 7.0% cap · market cap 11.61%
Second Best
Mixed Use
$643.5K
$563.1K – $750.8K
NOI $45,045 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 25404, WV
23,034
Population
9,973
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
37.9 sq mi
ZIP Area
608
Density / Sq Mi
$68,897
Median Household Income
$42,976
Median Earnings
$1,228
Median Rent
$226,900
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?
Mixed-use property - 6,600 sq ft commercial building suitable for retail, office, mixed-use.
Where is this mixed-use property located?
The property is located at 824 N QUEEN St Martinsburg, WV.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 6,600 sq ft commercial building suitable for retail, office, or mixed‑use.; Excellent visibility in a well‑traveled area.; Flexible layout suitable for various business types (professional offices, medical, retail, service‑based).
