Renovated Two-Story
New
For Sale
$695,000
384 S Main St, Timberville, VA 22853
Flexible restaurant property with open floor plans, a lower-level kitchen, private parking, and prominent consumer-facing exposure.
Property Size4,860 SF
Price / SF$143
Days on Market2
Property Features for 384 S Main St
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Retail - Restaurant
Additional Details
Traffic Count
11,000 vehicles/day
Amenities
private parking
kitchen
Building Details
Building Size
4,860 SF
Year Built
1957
Year Renovated
2026
Buildings
1
Stories
2
Listing Agency:
Cottonwood Commercial
Listed By:
Keith May · License #0225049582
(540) 820-7008
Source:
Commercialcafe
Added: Sep 5
Last Checked: Sep 5 at 3:24PM
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.
Located at 384 S Main St in Timberville, this conventional restaurant property combines a two-level layout with substantial flexibility for food service and related commercial uses. The building contains two 2,430-square-foot floors, each with an open configuration and two bathrooms. A kitchen on the lower level supports restaurant operations, while the adaptable interior can accommodate retail, showroom, or specialty-service concepts. The property was renovated in 2026 and originally built in 1957.
Private parking sits on newly reworked asphalt, providing on-site customer access and circulation. The building is directly across from Walmart and records approximately 11,000 vehicles per day along South Main Street, placing the property within a high-volume consumer corridor. An adjoining parcel may also be available for purchase, offering an additional option for an expanded site plan.
Private parking sits on newly reworked asphalt, providing on-site customer access and circulation. The building is directly across from Walmart and records approximately 11,000 vehicles per day along South Main Street, placing the property within a high-volume consumer corridor. An adjoining parcel may also be available for purchase, offering an additional option for an expanded site plan.
Key Highlights
- Two 2,430 SF floors with open layouts
- Lower‑level kitchen supports restaurant and food‑service operations
- Two bathrooms on each level
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
$62,722
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
9.02%
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%
$1,254,440
$1.3M
Cap Rate 7%
$896,029
$896.0K
Cap Rate 9%
$696,911
$696.9K
Market Conditions
NOI Build-Up for 4,860 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
$97.4K $20.04/SF
− Vacancy
−$7.8K −$1.60/SF
EGI
$89.6K $18.44/SF
− OpEx
−$26.9K −$5.53/SF
NOI
$62.7K $12.91/SF
Area
Rockingham County, VA
Vacancy
8.00%
Lease Rate
$20.04 /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%
$1,254,440
Cap Rate 7%
$896,029
Cap Rate 9%
$696,911
Alternative Uses
Best Use
Retail
$896.0K
$784.0K – $1.05M
NOI $62,722 @ 7.0% cap · market cap 9.02%
Second Best
Specialty Retail
$806.1K
$705.4K – $940.5K
NOI $56,429 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,527 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
95k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 44%
Shops & Services 24%
Groceries 21%
Dining 10%
Walmart
Superstores
41,280 visits/mo
0.1 miles
Food Lion Grocery Store
Groceries
15,818 visits/mo
0.2 miles
Hardee's
Dining
9,461 visits/mo
0.1 miles
Dollar Tree
Shops & Services
9,307 visits/mo
0.2 miles
Virginia ABC
Groceries
4,103 visits/mo
0.1 miles
Demographics for 22853, VA
4,608
Population
1,839
Households
2.5
Avg Household Size
42
Median Age
13%
College-Educated
83%
High-School Grad
39.0 sq mi
ZIP Area
118
Density / Sq Mi
$61,415
Median Household Income
$36,539
Median Earnings
$961
Median Rent
$207,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Flexible restaurant property with open floor plans, a lower-level kitchen, private parking, and prominent consumer-facing exposure.
Where is this conventional restaurant located?
The property is located at 384 S Main St Timberville, VA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two 2,430 SF floors with open layouts; Lower‑level kitchen supports restaurant and food‑service operations; Two bathrooms on each level
