Historic Mixed-Use
For Sale
$649,000
7760 MAIN STREET, Middletown, VA 22645
B-1 Commercial zoning supports a flexible layout with an attached residential unit and multiple potential business configurations.
Property Size4,200 SF
Price / SF$154.52
Days on Market25
Property Features for 7760 MAIN STREET
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Commercial
Zoning
B-1
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
front porch
foyer
grand staircase
hardwood floors
exposed brick
decorative fireplaces
updated kitchen
multiple bathrooms
Building Details
Year Built
1921
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(540) 974-1542
Listed By:
Lori Fountain Bales · License #0225229904
(540) 974-1542
Source:
Cummingsrealtors
Added: Aug 2
Changed: Aug 25
Last Checked: Aug 25 at 6:59AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Located at 7760 MAIN St in Middletown, this 1921 mixed-use property combines a commercial main building with an attached second unit. The well-maintained interior includes a front porch, foyer, grand staircase, hardwood floors, exposed brick, decorative fireplaces, an updated kitchen, private rooms, and multiple bathrooms. The attached unit has a separate kitchen and living area, two bedrooms, and two-and-a-half baths, allowing independent or integrated use.
The property sits across the street from the Wayside Theater and a short distance from I-81. B-1 Commercial zoning supports the range of approved uses described for the property, including offices, boutique retail, medical or wellness practices, hospitality, and event space. Site improvements include a detached two-car garage with additional storage, a storage shed, abundant off-street parking, and outdoor space.
The property sits across the street from the Wayside Theater and a short distance from I-81. B-1 Commercial zoning supports the range of approved uses described for the property, including offices, boutique retail, medical or wellness practices, hospitality, and event space. Site improvements include a detached two-car garage with additional storage, a storage shed, abundant off-street parking, and outdoor space.
Key Highlights
- B‑1 Commercial zoning with flexible approved‑use potential
- 1921 building with hardwood floors, exposed brick, decorative fireplaces, and a grand staircase
- Attached second unit includes a kitchen, living area, two bedrooms, and two‑and‑a‑half baths
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
$56,235
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
8.66%
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%
$1,124,700
$1.1M
Cap Rate 7%
$803,357
$803.4K
Cap Rate 9%
$624,833
$624.8K
Market Conditions
NOI Build-Up for 4,200 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
$87.7K $20.88/SF
− Vacancy
−$12.7K −$3.03/SF
EGI
$75.0K $17.85/SF
− OpEx
−$18.7K −$4.46/SF
NOI
$56.2K $13.39/SF
Area
Warren County, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$1,124,700
Cap Rate 7%
$803,357
Cap Rate 9%
$624,833
Alternative Uses
Best Use
Mixed Use
$1.05M
$915.5K – $1.22M
NOI $73,238 @ 7.0% cap · market cap 11.28%
Second Best
Office B
$803.4K
$702.9K – $937.3K
NOI $56,235 @ 7.0% cap · market cap 8.66%
Theoretical Best
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $163,296 @ 7.0% cap · market cap 25.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 22645, VA
4,208
Population
1,788
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
36.4 sq mi
ZIP Area
116
Density / Sq Mi
$81,354
Median Household Income
$44,706
Median Earnings
$1,018
Median Rent
$389,100
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?
Mixed-use property - B-1 Commercial zoning supports a flexible layout with an attached residential unit and multiple potential business configurations.
Where is this mixed-use property located?
The property is located at 7760 MAIN STREET Middletown, VA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: B‑1 Commercial zoning with flexible approved‑use potential; 1921 building with hardwood floors, exposed brick, decorative fireplaces, and a grand staircase; Attached second unit includes a kitchen, living area, two bedrooms, and two‑and‑a‑half baths
