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    1291 Edwin Miller Blvd Martinsburg, WV 25404
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    1291 Edwin Miller Blvd Martinsburg, WV 25404

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    • Lifestyle centers
    • 201,966 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Black Ferian Office for Car Donation Inc / Corporate Office

    Property Details for 1291 Edwin Miller Blvd

    Property size
    201,966 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Old Courthouse Square, located at 1291 Edwin Miller Blvd, Martinsburg, WV 25404, offers exceptional retail space in a thriving commercial area. This 201,966 square foot shopping center boasts a strong tenant mix, including national and regional anchors like Martin's Food Stores, the U.S. Postal Service, Super Shoes, and Rent-A-Center. The property features three suites, with a total of 19,941 square feet currently vacant, divisible down to a minimum of 40 square feet. The center enjoys a high-traffic location at the signalized intersection of Edwin Miller Boulevard (Route 9) and N. Raleigh Street/Williamsport Pike (U.S. Route 11), experiencing a combined daily traffic count of 30,829 vehicles. Its strategic position just 1.5 miles from I-81 (with an average annual daily traffic count of 50,500) provides unparalleled access and visibility. The surrounding area is a significant employment hub, home to the U.S. Social Security Administration, U.S. Internal Revenue Service, U.S. Agricultural Department, and a Veteran's Affairs office, ensuring a consistent flow of potential customers. Route 9, a major commercial corridor, further enhances the property's strategic advantage. This is a rare opportunity to secure retail space in a high-demand location with established anchors and exceptional visibility. Contact us today to learn more about the available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Martinsburg
    County
    Berkeley
    State
    West Virginia
    Longitude
    -77.9581
    Latitude
    39.4781

    Comparable in this City

    • Value Estimation
      $2,000,000
      88,528 SF

      1347-1349 Old Courthouse Sq

      MINI-MALL • 88,528 SF
      1347-1349 Old Courthouse Sq, Martinsburg, WV 25404
      View Details
    • Value Estimation
      $2,030,000
      54,460 SF

      273 Monroe St

      MINI-MALL • 54,460 SF
      273 Monroe St, Martinsburg, WV 25404-3383
      View Details
    • Value Estimation
      $965,000
      13,492 SF

      83 Monroe St

      MINI-MALL • 13,492 SF
      83 Monroe St, Martinsburg, WV 25404-3385
      View Details
    • Value Estimation by Request
      1,200 SF

      57 Mdw Ln

      MINI-MALL • 1,200 SF
      57 Mdw Ln, Martinsburg, WV 25404-3807
      View Details
    • Value Estimation
      $15,850,000
      86,422 SF

      1291-1299 Old Courthouse Sq

      MINI-MALL • 86,422 SF
      1291-1299 Old Courthouse Sq, Martinsburg, WV 25404
      View Details
    • Value Estimation
      $595,000
      19,574 SF

      31 Aikens Ctr, Unit 67

      MINI-MALL • 19,574 SF
      31 Aikens Ctr, Martinsburg, WV 25404-5708
      View Details

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    Similar Nearby for Lease

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      Martinsburg Commercial Building For Lease

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    • Contact for pricing
      1,200 SF

      Retail Space in Old Courthouse

      Retail space available in a busy shopping center.
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    • $2,950 /Mo

      Martinsburg Commercial Building For Lease

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    • Contact for pricing
      2,353 SF

      Retail Space in Martinsburg

      Retail space available for lease in Martinsburg, West Virginia.
      1426 Edwin Miller Blvd, Martinsburg, WV 25404
      View Details
    • $3,146 /Mo

      Commercial Space on Edwin Miller Boulevard

      Retail and office spaces for lease in high-traffic Martinsburg corridor.
      39 Aikens Ctr, Martinsburg, WV 25404
      View Details
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    Martinsburg, WV 25404
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    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
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