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    Historic Event Venue Manor Title is generated by Realmo AI

    111 S MAIN ST, Bridgewater, VA 22812

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    Claim this Listing
    Pending
    $899,900

    Building - BRIDGEWATER, VA

    Property size:
    7,108 SF
    Lot size:
    0.54 Acres
    Added:
    May 22, 2025
    Days on Market:
    380
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 111 S MAIN ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-1 Business General
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Pending
    APN
    122/ A3 A/ / 84/
    Size
    7,108 SF
    Lot size
    0.54 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1876
    Floors in Building
    2
    Flooring type
    Wood
    Building materials
    Brick, Stone
    Roof type
    Composition, Metal, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Zach Koops

    Listing agent Zach Koops License #0225210694

    Listing office Real Broker LLC 1765 Greensboro PL Suite 900, Tysons Corner, VA

    Listing date May 22, 2025

    MLS# 664897 Listing URL

    Copyright © 2026 Harrisonburg-Rockingham Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4,000+ sq ft Greek Revival manor built in 1876 with 3 bedrooms and 3 baths
    • Event venue with capacity for up to 150 guests
    • Central air plus forced‑air heating; four wood‑burning fireplaces (currently capped)
    • Metal, composition, and shingle roof; recently replaced metal roof
    • Set on a half‑acre with formal gardens, reflecting pool, and a large walnut “wedding tree”
    • Detached garage (added in 2001) plus Magnolia Cottage (half‑bath) and Dinkle Pavilion (carport/garage)

    Overview

    This restored 1849 Greek Revival manor is currently operating as an event venue and features a distinctive architectural presence, including prominent white columns. The home offers 3 bedrooms and 3 baths, along with a basement parlor and four wood-burning fireplaces that are currently capped. Updates include central air and a recently replaced metal roof, and a detached garage was added in 2001. Outdoor amenities include formal gardens, a serene reflecting pool, and a large walnut “wedding tree” that serves as a prominent ceremony backdrop.

    The property is located at 111 S Main St in Bridgewater, Rockingham County, Virginia, on approximately 0.54 acres. It is zoned B-1 Business General, and the current use as a venue is complemented by a special use permit option for use as a private residence. Additional onsite structures include the Magnolia Cottage with a half-bath and the Dinkle Pavilion with carport/garage, providing flexible space for guests, offices, or creative uses.

    For buyers, the layout supports both hosted events and private living, with ample indoor gathering space and multiple exterior settings for ceremonies and receptions. Event capacity is stated up to 150 guests, and the detached structures can help separate guest, storage, and work-from-home functions while keeping the main home dedicated to hosting or residence use.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $115.1k $16.20
    − Vacancy −$8.6k −$1.22
    EGI $106.5k $14.99
    − OpEx −$47.9k −$6.74
    NOI $58.6k $8.24
    7,108 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $836.9K
    $732.3K – $976.4K (±1% cap)
    NOI $58,582 @ 7.0% cap · market cap 6.51%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.14M
    $1.87M – $2.50M (±1% cap)
    NOI $149,950 @ 7.0% cap · market cap 16.66%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    One Eleven South ... Wedding Service Truist ATM Atm Truist Bank Amy Fox Batman ... Loan Service BB&T ATM Atm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bridgewater
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.9773557
    Latitude
    38.3818361

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    FAQs

    What type of property is this?
    Wedding venue - Restored Greek Revival manor with formal gardens and multiple structures, designed for events and adaptable to private living.
    Where is this wedding venue located?
    The property is located at 111 S MAIN ST Bridgewater, VA.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: 4,000+ sq ft Greek Revival manor built in 1876 with 3 bedrooms and 3 baths; Event venue with capacity for up to 150 guests; Central air plus forced‑air heating; four wood‑burning fireplaces (currently capped)
    (540) 696-5850
    We can help!
    Listing Contact
    Zach Koops
    Real Estate License ID: 0225210694
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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.

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