Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    198 Acres Runions Crk Broadway, VA 22815

    Sponsored
    For Sale
    $795,000

    LAND - BROADWAY, VA

    Lot size:
    198.00 Acres
    Days on Market:
    173
    Last Refresh:
    Feb 3 at 8:06 am

    Property Features for 198 Acres Runions Crk

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    198.00 Acres

    We can help!

    Listing Contact
    John A Bowman
    John A Bowman

    Old Dominion Realty (540) 433-2454

    Listing agent John A Bowman (540) 433-2454 License #0225085237

    Listing date Aug 15, 2025

    MLS# VARO2002504

    Copyright © 2025 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

    Overview

    198 Acres of Prime Timberland

    This property features 198 acres of prime timberland, encompassing 7 tax parcels. Roads and trails throughout the land create a suitable hunting preserve. Several cleared areas offer potential cabin sites with mountain valley views. The property is accessible from Runions Creek Road and Brunk Spring Lane. It is located 5 miles west of Broadway and under 30 minutes from Harrisonburg, in Rockingham County, VA.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Broadway
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.80008
    Latitude
    38.72146

    Nearby Similar for Sale

    • $350,000
      5,430 SF

      Renovated Historic Commercial Building For Sale

      Renovated, 2-story historic commercial building in downtown Broadway, Virginia.
      140 N Main St, Broadway, VA 22815
      View Details
    • New
      $700,000
      20,977 SF

      Spacious Industrial Property in Broadway

      Over 20,000 SF of buildings on nearly 6 acres.
      5.0 Acres Turleytown Rd, Broadway, VA 22815
      View Details
    • New
      $225,000
      Pending

      Commercial Building in Downtown Broadway

      Commercial building with three-phase electric in the heart of Broadway.
      137 N Main St, Broadway, VA 22815
      View Details
    • $349,900
      1,640 SF

      New Construction Duplex with Garage

      New construction duplex featuring high-end finishes, garage, and mountain views.
      259 Freemont Cir, Broadway, VA 22815
      View Details
    • $339,500

      Victorian Dwelling Currently Office Space

      Victorian dwelling currently rented as office space, potential AirBnB.
      133 W Springbrook Rd, Broadway, VA 22815
      View Details
    • $435,000

      Broadway Specialty Property For Sale

      Specialty property available for purchase in Broadway, Virginia.
      121 S Central St, Broadway, VA 22815
      View Details
    • $250,000

      Specialty Property For Sale

      Specialty property available for sale.
      17374 Starstone Dr, Broadway, VA 22185
      View Details
    • $725,000
      4,800 SF

      Broadway Bays: Prime Investment Opportunity

      Sports/Entertainment Venue, 6.4% Cap Rate
      175 Central St, Broadway, VA 22815
      View Details

    FAQs

    What type of property is this?
    Hunting land - 198 acres of timberland with roads, trails, and mountain views.
    Where is this hunting land located?
    The property is located at 198 Acres Runions Crk Broadway, VA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: - 198 Acres of Prime Timberland in the Shenandoah Valley; - Excellent Hunting Preserve with Roads and Trails; - Multiple Cleared Cabin Sites with Mountain Valley Views
    (540) 433-2454
    Request Owner's contact information
    198 Acres Runions Crk Broadway, VA 22815
    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.
    198 Acres Runions Crk
    Broadway, VA 22815
    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
    198 Acres Runions Crk Broadway, VA 22815
    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

    We can help!
    Listing Contact
    John A Bowman
    John A Bowman
    Real Estate License ID: 0225085237
    (540) 433-2454
    Learn more
    Google sign-in failed. Please try again or use another login method.