New Construction Duplex with
For Sale
$349,900
259 Freemont Circle, Broadway, VA 22815
New construction duplex featuring high-end finishes, garage, and mountain views.
Property Size1,640 SF
Price / SF$213.35
Days on Market331
Property Features for 259 Freemont Circle
General Information
Standard status
Active
Size
1,640 SF
Property subtype
DUPLEX
Building Details
Building Size
1,640 SF
Listing Agency:
Cottonwood Commercial
(540) 383-6054
Listed By:
Craig Anders · License #0225231207
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Aug 10
Last Checked: Aug 21 at 4:14AM
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 is a newly constructed one-level living duplex featuring 3 bedrooms and 2 full bathrooms. Built by a local craftsman, Tom Hoover, the duplex boasts high ceilings, LVP flooring, and high-end finishes throughout, complemented by a brick exterior. The open floor plan seamlessly connects the living room and kitchen, ideal for entertaining. Two bedrooms share a full bathroom, while the master suite includes a full tile walk-in shower and a custom walk-in closet. An oversized mudroom with laundry hookups, a deep bay sink, ample storage space, and a sitting area connects to the double garage, suitable for multiple vehicles or additional storage. The property is located on the southern end of the Town of Broadway and offers mountain and farm views. The property is equipped with Glo Fiber.
Key Highlights
- New construction, single‑level duplex built by local craftsman.
- Open floor plan ideal for entertaining.
- Master suite features a full tile walk‑in shower and custom walk‑in closet.**
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
$14,813
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
4.23%
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%
$296,260
$296.3K
Cap Rate 7%
$211,614
$211.6K
Cap Rate 9%
$164,589
$164.6K
Market Conditions
NOI Build-Up for 1,640 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
$22.6K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.2K $12.90/SF
− OpEx
−$6.3K −$3.87/SF
NOI
$14.8K $9.03/SF
Area
Rockingham County, VA
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$296,260
Cap Rate 7%
$211,614
Cap Rate 9%
$164,589
Alternative Uses
Best Use
Multifamily LT 5
$211.6K
$185.2K – $246.9K
NOI $14,813 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$193.1K
$169.0K – $225.3K
NOI $13,516 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$494.2K
$432.5K – $576.6K
NOI $34,597 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
50
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - New construction duplex featuring high-end finishes, garage, and mountain views.
Where is this duplex located?
The property is located at 259 Freemont Circle Broadway, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: New construction, single‑level duplex built by local craftsman.; Open floor plan ideal for entertaining.; Master suite features a full tile walk‑in shower and custom walk‑in closet.**
