1321 Edwin Miller Blvd Martinsburg, WV 25404-3703
- Retail space
- 1,736 SF
- 0.41 lot acres
Current Use by Public Records
- Country Grown Marijuana Dispensary Martinsburg / Herbal Medicine Store / Herbalist
- Country Grown Cannabis Dispensary Martinsburg / Cannabis Store
- Summit Community Bank / Financial Consultant / Mortgage Lender
- Country Grown Cannabis / Cannabis Store
Property Details for 1321 Edwin Miller Blvd
- Year built
- 1987
- Construction
- WOOD FRAME
- Lot size
- 0.41 lot acres
- Property size
- 1,736 SF
- Property type
- Retail space
- APN
- 02-06- 26-0006.0001
- APU
- 2062600060001
Description
This fee-simple retail property in Martinsburg, West Virginia, presents a compelling investment opportunity. The 3,047 square-foot building, constructed in 1987, sits on a 0.41-acre lot and is currently 100% occupied under a single-tenant, absolute NNN lease with a corporate tenant. The lease commenced October 8, 2021, and has a remaining term of approximately 11.9 years, expiring September 29, 2036. The lease includes annual rent bumps of 2.50%, providing a built-in hedge against inflation. The current annual net operating income (NOI) is $120,717, representing an 8.00% capitalization rate on the asking price of $1,508,966. The property features multiple drive-thrus and is conveniently located in a strong retail trade area with excellent access to a primary thoroughfare. The surrounding area boasts a dense and affluent demographic profile, with over 64,300 residents and an average household income exceeding $87,400 within a 5-mile radius. This investment offers a passive income stream with significant long-term growth potential. The property is located at 1321 Edwin Miller Blvd, Martinsburg, WV 25404. The building is a single-story structure.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $570,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $505,000
- 6.5%
- $455,000
- 7%
- $465,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $440,000
- Geo Method
- $385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $480,000
- Retail
- $475,000
- Mixed-Use
- $385,000
- Hospitality
- $455,000
- Educational
- $395,000
- Residential Income
- $510,000
- Energy
- $395,000
- Income-Based Land
- $505,000
- Food Service
- $500,000
Location Insight
- Map
- Local Demand
- City
- Martinsburg
- County
- Berkeley
- State
- West Virginia
- Longitude
- -77.9579
- Latitude
- 39.478
- CBSA code
- 25180
- CBSA name
- HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA
