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    The Largest CRE Database in the US with Over 1 Million Listings

    165 Brokenback Mountain Rd Free Union, VA 22940

    Sponsored
    For Sale
    $650,000

    MULTI_FAMILY - Cape Cod - FREE UNION, VA

    Property size:
    2,091 SF
    Lot size:
    6.78 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 25 at 1:06 pm

    Property Features for 165 Brokenback Mountain Rd

    General Information

    Special listing conditions
    Short Sale
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Short Sale
    Standard status
    Active
    Parking
    11
    Parking features
    Garage - Attached, Off Street
    Interior features
    Kitchen - Country
    Appliances
    Dishwasher, Dryer, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Washer
    Size
    2,091 SF
    Lot size
    6.78 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    1990
    Number of units
    4
    Building materials
    Vinyl Siding
    Architectural style
    Cape Cod

    We can help!

    Listing Contact
    edwina kay hubbard

    Montague, Miller & Company (540) 948-6655

    Listing agent edwina kay hubbard (540) 948-3669

    Listing date Feb 24, 2026

    MLS# VAGR2000814 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Property with Accessory Dwelling

    This property features a 4-bedroom, 3-bathroom home with an approved accessory dwelling unit. Recent upgrades include a soapstone fireplace with woodstove. The county has approved tourist lodging for an Airbnb at this residence. The property includes a separate 2+ acre parcel with a 1000 square foot building that has electricity and a separate driveway. This additional structure could be used as a workshop or office, and has the potential for two remote bedrooms, pending county approval. The 6.78-acre property is located in the Blue Ridge foothills and includes fenced-in fields suitable for horses and livestock, a potential pond with a dock in place, and private creek access. One shed and two run-in sheds are included. The home has a 2-car garage with gas heat. Firefly Internet is available on both properties. The property is located close to wineries, Skyline Drive National Park, ski resorts, and UVA hospital and schools. Mission Bakery is 2 miles away. The home was built by Mission Home Builders and includes many upgrades in the last five years. The property offers views of Skyline Drive from the front porch. The property is suitable for a private retreat, equestrian activities, or as a business opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Free Union
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.591
    Latitude
    38.26327

    FAQs

    What type of property is this?
    Horse & equestrian property - 4-bedroom home with accessory unit, workshop, and equestrian features.
    Where is this horse & equestrian property located?
    The property is located at 165 Brokenback Mountain Rd Free Union, VA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Approved accessory dwelling unit (ADU) within the home, plus a separate 2+ acre parcel with a 1000 sq ft building with electricity, offering diverse living and business possibilities.; - County approval for tourist lodging (Airbnb), presenting an immediate income opportunity.; - Includes a separate 2+ acre parcel with a 1000 square foot building with electricity and separate driveway, with potential for two remote bedrooms.
    (540) 948-3669
    Request Owner's contact information
    165 Brokenback Mountain Rd Free Union, VA 22940
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    Free Union, VA 22940
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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
    165 Brokenback Mountain Rd Free Union, VA 22940
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    We can help!
    Listing Contact
    edwina kay hubbard
    (540) 948-3669 (540) 948-6655
    Learn more
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