Victorian Office Space
For Sale
$325,000
133 W Springbrook Rd, Broadway, VA 22815
Victorian building suitable for office, Airbnb, or rental property.
Property Size2,613 SF
Days on Market158
Property Features for 133 W Springbrook Rd
General Information
Standard status
Active
Size
2,613 SF
Property subtype
Hospitality
Building Details
Building Size
2,613 SF
Year Built
1843
Listing Agency:
Cottonwood Commercial
(540) 421-0360
Listed By:
Mike Martin · License #0225265521
Source:
Tcnworldwide
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 2:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cottonwood Commercial
Investment Insights
Based on property information with market context.
This Victorian dwelling is currently utilized as office space with a shared waiting area. The property presents potential for use as an Airbnb, particularly for weekend rentals when the Rail Trail is completed. Doors and restroom meet ADA standards. Updated electrical systems are in place. Expandable square footage with heat is available. Broadway is a town featuring parks with swimming, festivals, a farmers market, shops, dining options, and proximity to Linville Creek and the North Fork of the Shenandoah River. The property is located on West Springbrook Road, on the right before the bridge.
Key Highlights
- Victorian dwelling suitable for office space, AirBnB, or other uses.
- Potential for high‑demand short‑term rentals due to proximity to the future Rail Trail.
- ADA compliant doors and restroom.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,536
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,720
$430.7K
Cap Rate 7%
$307,657
$307.7K
Cap Rate 9%
$239,289
$239.3K
Market Conditions
NOI Build-Up for 2,613 SF
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.
Gross rent
$42.3K $16.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$39.2K $14.99/SF
− OpEx
−$17.6K −$6.74/SF
NOI
$21.5K $8.24/SF
Area
Rockingham County, VA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,720
Cap Rate 7%
$307,657
Cap Rate 9%
$239,289
Alternative Uses
Best Use
Office B
$572.5K
$500.9K – $667.9K
NOI $40,073 @ 7.0% cap · market cap 12.33%
Second Best
Apartment 5plus
$307.7K
$269.2K – $358.9K
NOI $21,536 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$787.5K
$689.1K – $918.7K
NOI $55,124 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 22815, VA
9,083
Population
3,957
Households
2.3
Avg Household Size
41
Median Age
25%
College-Educated
85%
High-School Grad
70.9 sq mi
ZIP Area
128
Density / Sq Mi
$70,598
Median Household Income
$40,829
Median Earnings
$1,005
Median Rent
$249,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Victorian building suitable for office, Airbnb, or rental property.
Where is this office units located?
The property is located at 133 W Springbrook Rd Broadway, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Victorian dwelling suitable for office space, AirBnB, or other uses.; Potential for high‑demand short‑term rentals due to proximity to the future Rail Trail.; ADA compliant doors and restroom.
