4803 Gerrardstown RdInwood, WV 25428

Property Details for 4803 Gerrardstown Rd

Year built

1993

Lot size

5.21 AC

Property size (Sq ft)

37,347 SF

Property type

Grocery and convenience stores

APN

02-07- 6-0016.0001

APU

207600160001

Description

This exceptional retail property presents a unique investment opportunity. Located at a hard corner intersection on Gerrardstown Road, this fully leased center boasts a prominent Food Lion anchor tenant. The site enjoys exceptional visibility and accessibility, situated on a primary retail and commuter corridor directly adjacent to I-81 Highway Exit, with impressive traffic counts of 57,600 cars per day. Gerrardstown Road itself sees 18,000 cars daily. The property offers significant street frontage and multiple access points, ensuring convenient access for customers. The 36,440 square foot center is currently fully leased, providing immediate and stable income. This location benefits significantly from the rapid growth of the surrounding area, with new residential communities adding over 350 units. These include developments by JBG Builders (Timberwood East, Nadenbousch Pines, Quail Ridge Estates at Edgemoor) featuring 3-6 bedroom/2-5 bathroom homes starting at $285,000, and Ryan Homes (Southbrook Arcadia North Villas) offering 3-bedroom homes and townhomes priced from $300,000. The proximity to Martinsburg, West Virginia's fastest-growing city (only 10 miles away), further enhances the long-term growth potential of this investment. This is a rare opportunity to acquire a thriving retail center in a high-growth market.

• CAP approach

  CAP return

  Valuation

  6%

  $10,059,200

  6.5%

  $9,285,440

  7%

  $8,622,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,765,850

  Geo Method

  $7,765,850

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $17,983,700

  Mixed-Use / Specialty

  $9,302,380

  Hospitality / Lodging

  $6,890,000

  Office

  $9,299,230

  Institutional / Educational

  $9,688,600

  Residential Income

  $11,335,700

  Multifamily

  $13,318,000

  Automotive / Energy

  $8,304,520

  Parking / Income-Based Land

  $2,816,350

  Restaurant / Food Service

  $4,945,030

  Healthcare / Senior Housing

  $9,488,100

Location Insight

City

Inwood

County

Berkeley

State

West Virginia

Latitude

39.3633

Longitude

-78.0433

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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