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    Property profile & analytics

    173 Lee St Broadway, VA 22815-9753

    • Retail space
    • 0.65 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Sep 28, 2023
    Location Intelligence
    Property ID
    US87-3045916
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dollar General / Grocery Store / Convenience Store
    • FedEx OnSite / Mailing Service
    • Western Union / Money Transfer Service / Money Order Service
    • Redbox / Movie Rental Kiosk / Dvd Store

    Property Details for 173 Lee St

    Year built
    2004
    Lot size
    0.65 lot acres
    Property type
    Retail space
    APN
    51-(A)- L69C1
    APU
    51AL69C1

    Description

    This exceptional investment opportunity presents a net-leased Dollar General store located at 173 W Lee St, Broadway, VA. The property boasts a substantial 9,100 square feet situated on a 0.65-acre lot, enjoying a prime location on Route 259 with over 12,000 vehicles passing daily, ensuring high visibility and consistent customer traffic. Currently leased until April 2030, this property offers a secure, long-term income stream with a compelling 6.6% capitalization rate. Dollar General, a highly reputable and stable tenant, has occupied the premises since 2004, demonstrating a long-standing commitment to the location. The low base rent contributes to the property's exceptional value and makes it a particularly attractive asset. Furthermore, the property requires minimal maintenance, averaging less than $2,100 annually over the past three years. Recent improvements include a new HVAC system installed in October 2024, significantly reducing future maintenance liabilities and enhancing the property's long-term operational efficiency. This presents a low-maintenance, high-yield investment ideal for 1031 exchange buyers seeking a stable and profitable addition to their portfolio. The combination of a strong tenant, prime location, and low maintenance costs makes this a truly exceptional investment opportunity.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Broadway
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.7993
    Latitude
    38.6189
    CBSA code
    25500
    CBSA name
    HARRISONBURG, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,344
    $85,000
    $848,000
    $933,000
    -
    $85,000
    $848,000
    $933,000

    Comparable in this City

    • Value Estimation
      $205,000
      0.31 Acres

      242 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.31 Acres
      242 Main St, Broadway, VA 22815
      View Details
    • Value Estimation
      $210,000
      0.57 Acres

      381 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.57 Acres
      381 Main St, Broadway, VA 22815
      View Details
    • Value Estimation
      $995,000
      0.11 Acres

      169 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      169 Main St, Broadway, VA 22815
      View Details
    • Value Estimation
      $270,000
      0.08 Acres

      145 Main St

      STORE, RETAIL OUTLET • 0.08 Acres
      145 Main St, Broadway, VA 22815
      View Details
    • Value Estimation by Request
      0.09 Acres

      138 Main St

      STORE, RETAIL OUTLET • 0.09 Acres
      138 Main St, Broadway, VA 22815
      View Details
    • Value Estimation
      $400,000
      0.53 Acres

      290 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.53 Acres
      290 Main St, Broadway, VA 22815-9555
      View Details

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    173 Lee St
    Broadway, VA 22815-9753
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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