172 Lee St Broadway, VA 22815
This exceptional investment opportunity encompasses a well-maintained 1,100 square foot carwash, built in 1997, situated on a prime 8.29-acre lot in Broadway, Virginia. Located on Route 259, the property benefits from high traffic volume, serving as a crucial corridor for Northwest Rockingham County and West Virginia. The carwash itself has undergone recent significant updates and offers strong financial performance (details available upon request). The expansive lot boasts over 850 feet of road frontage on Holly Hill Street and convenient access to public utilities. While a portion of the land lies within a floodplain, the majority is zoned R-1, presenting significant potential for residential development. The property's APN is 51 A L69E and is zoned B1. The asking price is $824,900, and owner financing is available with a $250,000 down payment at a 6% interest rate. This unique combination of established business and prime development land offers a compelling investment prospect with substantial upside potential. The address is 172 W Lee St, Broadway, VA 22815.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.