Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1024 Winchester Ave Martinsburg, WV 25401
    Back to Search
    Property profile & analytics

    1024 Winchester Ave Martinsburg, WV 25401

    View on Map
    • Hotels
    • 6,028 SF
    • 0.68 lot acres
    For Sale
    $1,800,000
    View Listing →
    Profitable Motel Investment Opportunity For Sale
    $1,800,000
    1.00 Acre

    Profitable Motel Investment Opportunity

    Turnkey 19-room motel with low vacancy in Martinsburg, WV.

    1024 Winchester Ave, MARTINSBURG, Martinsburg, WV 25401
    View Listing
    Property ID
    US94-0422668
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Heritage Inn / Hotel & Motel

    Property Details for 1024 Winchester Ave

    Year built
    1964
    Construction
    WOOD FRAME
    Lot size
    0.68 lot acres
    Property size
    6,028 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    02-01- 5G-0044.0002
    APU
    02015G00440002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Martinsburg
    County
    Berkeley
    State
    West Virginia
    Longitude
    -77.9807
    Latitude
    39.4442
    CBSA code
    25180
    CBSA name
    HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,842
    $79,980
    $198,780
    $278,760
    -
    $133,300
    $331,300
    $464,600

    Comparable in this City

    • Value Estimation
      $670,000
      3.40 Acres

      820 Foxcroft Ave

      HOTEL/MOTEL • 3.40 Acres
      820 Foxcroft Ave, Martinsburg, WV 25401-1800
      View Details
    • Value Estimation
      $11,305,000
      20,072 SF

      975 Foxcroft Ave

      HOTEL/MOTEL • 20,072 SF
      975 Foxcroft Ave, Martinsburg, WV 25401-1840
      View Details
    • Value Estimation
      $3,710,000
      64,720 SF

      301 Foxcroft Ave

      HOTEL/MOTEL • 64,720 SF
      301 Foxcroft Ave, Martinsburg, WV 25401-5315
      View Details
    • Value Estimation
      $13,840,000
      17,424 SF

      451 Foxcroft Ave

      HOTEL/MOTEL • 17,424 SF
      451 Foxcroft Ave, Martinsburg, WV 25401-5319
      View Details
    • Value Estimation
      $1,160,000
      18,464 SF

      209 Viking Way

      HOTEL/MOTEL • 18,464 SF
      209 Viking Way, Martinsburg, WV 25401-5339
      View Details
    • Value Estimation by Request
      69,082 SF

      Apple Harvest Dr

      Neighborhood centers • 69,082 SF
      0 Apple Harvest Dr, Martinsburg, WV 25401
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Profitable Motel Investment Opportunity

      Turnkey 19-room motel with low vacancy in Martinsburg, WV.
      1024 Winchester Ave, Martinsburg, WV 25401
      View Details
    • Contact for pricing
      0.01 Acres

      Martinsburg Office Space Available

      Prime First-Floor Office Suites in Martinsburg
      630 Winchester Ave, Martinsburg, WV 25401
      View Details
    • $389,900
      0.58 Acres

      Renovated Office Building on Winchester

      Turnkey commercial office building on highly visible Winchester Avenue.
      1008 Winchester Ave, Martinsburg, WV 25401
      View Details
    • Contact for pricing
      5,400 SF

      115 E Martin St, Martinsburg, WV 25401

      Multifamily properties • 5,400 SF
      115 E Martin St, Martinsburg, WV 25401
      View Details

    Similar Nearby for Lease

    • $625 /Mo
      15,682 SF

      Downtown Martinsburg Professional Office Hub

      Reimagined office building with modern workspace in a prime location.
      101 S Queen St, Martinsburg, WV 25401
      View Details
    • $2,000 /Mo

      Professional Office Space Near Hospital

      Newly renovated office space near WVU East Hospital.
      2009 Professional Ct, Martinsburg, WV 25401
      View Details
    • $1,000 /Mo
      9,583 SF

      Martinsburg Commercial Space For Lease

      Commercial space with road frontage suitable for various retail uses.
      421 S Raleigh St, Martinsburg, WV 25401
      View Details
    • $900 /Mo
      15,682 SF

      Downtown Martinsburg Office Space Available

      Modern office spaces in downtown Martinsburg's newest professional hub.
      101 S Queen St, Martinsburg, WV 25401
      View Details
    • $1,300 /Mo

      Martinsburg Commercial Space For Rent

      Commercial space available for rent in Martinsburg, West Virginia.
      408 W King St #1B, Martinsburg, WV 25401
      View Details
    • $1,425 /Mo

      Renovated Downtown Commercial Suite

      720 sq ft office/retail space in downtown Martinsburg.
      112 W Burke St, Martinsburg, WV 25401
      View Details
    View Listing
    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.
    1024 Winchester Ave
    Martinsburg, WV 25401
    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
    1024 Winchester Ave, Martinsburg, WV, 25401
    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!