Building Details

Building Size 8,244 SF

Year Built 1818

Listing Agency: Cottonwood Commercial

Listed By: Ashley Swartz · License ##0225103133 Show Phone

Source: Thebrokerlist

Added: Feb 18 Changed: Sep 10 Last Checked: Oct 14 at 7:41PM

Report an Issue

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.

The Thomas House combines an operating bed-and-breakfast with an established restaurant in a historic downtown setting. The inn includes 5 bedrooms, 4 baths, and a separate 1-bed, 1-bath apartment. An unfinished basement has a private entrance and bathroom rough-in and was formerly configured as a second apartment.

The restaurant provides ample seating and also uses private rooms within the home for group dining and parties. Furniture, fixtures, and equipment are included, supporting continued operation of both components. The property has housed the Thomas House restaurant since the 1960s and includes the original dwelling, a later addition, and a restaurant addition.

Key Highlights

• Operating bed‑and‑breakfast with 5 bedrooms and 4 baths
• Separate 1‑bed, 1‑bath apartment
• Restaurant with ample seating and private dining rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,928

Cap Rate

8.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$998,560 $998.6K

Cap Rate 7%

$713,257 $713.3K

Cap Rate 9%

$554,756 $554.8K

Market Conditions

NOI Build-Up for 8,244 SF

Gross rent

$123.7K $15.00/SF

− Vacancy

−$18.5K −$2.25/SF

EGI

$105.1K $12.75/SF

− OpEx

−$55.2K −$6.69/SF

NOI

$49.9K $6.06/SF

Area

Rockingham County, VA

Vacancy

15.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$998,560

Cap Rate 7%

$713,257

Cap Rate 9%

$554,756

Alternative Uses

Best Use

Specialty Retail

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,720 @ 7.0% cap · market cap 15.44%

Second Best

Hotel Hospitality

$713.3K

$624.1K – $832.1K (±1% cap)

NOI $49,928 @ 7.0% cap · market cap 8.05%

Theoretical Best

Office A

$2.48M

$2.17M – $2.90M (±1% cap)

NOI $173,915 @ 7.0% cap · market cap 28.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Bed & breakfasts

Suggested Use

Top Pick Auto Repair Shop Law Firm Auto Parts Store Dental Office Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

171

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 22821, VA

5,848

Population

2,493

Households

2.3

Avg Household Size

39

Median Age

23%

College-Educated

78%

High-School Grad

72.5 sq mi

ZIP Area

81

Density / Sq Mi

$81,667

Median Household Income

$38,424

Median Earnings

$979

Median Rent

$252,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this bed & breakfasts located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bed & breakfast - Operating inn and restaurant with furnishings, fixtures, and equipment included.

Where is this bed & breakfast located?

The property is located at 222 Main Street Dayton, VA.

What is the asking price?

The asking price for this property is $619,900.

What are key features of this property?

This property features: Operating bed‑and‑breakfast with 5 bedrooms and 4 baths; Separate 1‑bed, 1‑bath apartment; Restaurant with ample seating and private dining rooms