Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    I-81 Visible Raw Land Title is generated by Realmo AI

    LEGADO, Martinsburg, WV 25403

    View on Map
    Claim this Listing
    For Sale
    $1,790,500

    Raw land with I-81 visibility and public utilities.

    Type:Land
    Lot size:
    35.81 Acres
    Added:
    Nov 27, 2025
    Days on Market:
    182
    Last Refresh:
    May 10 at 10:35 pm

    Property Features for LEGADO

    General Information

    Standard status
    Active
    Lot size
    35.81 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Charles W Hensell Jr.

    Listing agent Charles W Hensell Jr.

    Listing office HENSELL REALTY, CO.

    Listing date Nov 27, 2025

    Source Elliman

    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 HENSELL REALTY, CO.

    HighLights

    • Prime raw land location along I81
    • Great I81 visibility for your business
    • Located between Exit 13 and 14
    • Access on Legado Drive
    • Public utilities available

    Overview

    This prime raw land is located along I-81, situated between Exit 13 and 14. Access to the property is provided via Legado Drive. The site benefits from high visibility from I-81. Public utilities are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Martinsburg
    County
    Berkeley
    State
    West Virginia
    Longitude
    -77.9929
    Latitude
    39.4624

    Nearby Similar for Sale

    • $389,900

      Renovated Office Building on Winchester

      Turnkey commercial office building on highly visible Winchester Avenue.
      1008 WINCHESTER AVE, MARTINSBURG, WV 25401
      View Details
    • $499,000

      Martinsburg Medical Office Space For Sale

      Prime medical office space near hospital and commuter routes.
      176 HEALTH CARE LN #1, MARTINSBURG, WV 25401
      View Details
    • $950,000

      Martinsburg Land with Rental Income

      4.56 acre lot with rental income in Martinsburg, WV.
      310 N RALEIGH Street, MARTINSBURG, WV 25401
      View Details
    • $248,000

      Martinsburg Commercial Land For Sale

      0.62-acre commercial lot near Berkeley Medical, ready for development.
      LOT 2 HEALTH CARE LN, MARTINSBURG, WV 25401
      View Details
    • $899,000

      Prime Commercial Land For Sale

      High-visibility commercial land ideal for retail, dining, or service businesses.
      0 MCMILLAN CT, MARTINSBURG, WV 25404
      View Details
    • $298,000

      Martinsburg Commercial Land For Sale

      2 acre commercial land with high visibility in Martinsburg, WV.
      310-312 ADAMS ST W, MARTINSBURG, WV 25404
      View Details
    • $45,000

      Versatile Land Parcel in Martinsburg

      Prime investment opportunity in a rapidly appreciating market.
      S COLLEGE Street lot: 153, MARTINSBURG, WV 25401
      View Details
    • $469,900

      Martinsburg Development Land For Sale

      Development-ready land in Martinsburg with approved site plan.
      BALTIMORE & BOSTON ST, MARTINSBURG, WV 25401
      View Details
    • $200,000

      Martinsburg Commercial Land Near Airport

      1.19 acre commercial lot near Interstate 81 and airport.
      NOVAK Drive lot: B2, MARTINSBURG, WV 25405
      View Details
    • $350,000

      Commercial Land in Growing Martinsburg

      1.8 acre commercial land in high-growth Martinsburg, West Virginia.
      Tract A FORBES Drive, MARTINSBURG, WV 25404
      View Details
    • $325,000

      Commercial Land in Growing Martinsburg

      1.31 acre commercial land in a high-growth area.
      Tract B FORBES Drive, MARTINSBURG, WV 25404
      View Details
    • $899,900
      10,300 SF

      Versatile Commercial Property on Winchester Ave

      Three buildings on 0.90 acres, high-traffic area, endless possibilities.
      1886 Winchester Ave, Martinsburg, WV 25405
      View Details

    FAQs

    What type of property is this?
    Land - Raw land with I-81 visibility and public utilities.
    Where is this land located?
    The property is located at LEGADO Martinsburg, WV.
    What is the asking price?
    The asking price for this property is $1,790,500.
    What are key features of this property?
    This property features: Prime raw land location along I81; Great I81 visibility for your business; Located between Exit 13 and 14
    (304) 671-0678
    We can help!
    Listing Contact
    Charles W Hensell Jr.
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    LEGADO, Martinsburg, WV 25403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!