Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    413 Main St Broadway, VA 22815-9552
    Back to Search
    Property profile & analytics

    413 Main St Broadway, VA 22815-9552

    View on Map
    • Commercial real estate
    • 0.11 lot acres
    Off-Market
    Last Sale Feb 28, 2025
    $280,000
    Property ID
    US87-2451256
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Agropex International Inc. / Industrial Manufacturer / Production Facility

    Property Details for 413 Main St

    Year built
    2007
    Lot size
    0.11 lot acres
    Zone code
    RURAL BUSINESS SERV DIST
    Property type
    Commercial real estate
    APN
    51A3-(10)- L5
    APU
    51A310L5

    Description

    This exceptional 2,100 square foot office condo, located at 413 S Main St, Broadway, VA 22815, presents a fantastic opportunity. Situated in a professional brick center in the heart of downtown Broadway, this property boasts a highly visible location directly on heavily traveled Route 42, surrounded by thriving local businesses. The spacious layout is spread across two levels, offering eight private offices, a welcoming reception area, a convenient kitchen, and ample storage space. The B1 zoning ensures versatility for a range of professional uses. Ample parking is readily available for both clients and staff. This single-tenancy property is ideally suited for a business seeking a prominent and well-equipped space. The property is available for lease commencing January 15, 2025. Furthermore, an attractive option for owner-financing is available for potential buyers. This presents a unique chance to acquire a turnkey office space in a desirable location within Rockingham County. Don't miss this chance to establish your business in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Broadway
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.8011
    Latitude
    38.6048
    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
    $2,131
    $22,000
    $291,400
    $313,400
    -
    $22,000
    $291,400
    $313,400

    Comparable in this City

    • Value Estimation by Request
      8.72 Acres

      Broadway, VA 22815

      COMMERCIAL (GENERAL) • 8.72 Acres
      Broadway, VA 22815
      View Details
    • Value Estimation by Request
      0.10 Acres

      411 Main St

      COMMERCIAL (GENERAL) • 0.10 Acres
      411 Main St, Broadway, VA 22815-9552
      View Details
    • Value Estimation by Request
      0.30 Acres

      Timberway

      Commercial real estate • 0.30 Acres
      Timberway, Broadway, VA 22815
      View Details
    • Value Estimation by Request
      0.29 Acres

      132 Main St

      COMMERCIAL (GENERAL) • 0.29 Acres
      132 Main St, Broadway, VA 22815
      View Details
    • Value Estimation by Request
      0.43 Acres

      295 Timber Way

      COMMERCIAL (GENERAL) • 0.43 Acres
      295 Timber Way, Broadway, VA 22815
      View Details
    • Value Estimation by Request
      1.48 Acres

      12110 Turleytown Rd

      COMMERCIAL (GENERAL) • 1.48 Acres
      12110 Turleytown Rd, Broadway, VA 22815-2619
      View Details

    Similar Nearby for Sale

    • $299,900
      Pending

      Charming Victorian Office Building

      Victorian office building with rental income potential in Broadway, VA.
      133 W Springbrook Rd, Broadway, VA 22815
      View Details
    • $194,900
      2.19 Acres

      Residential Land Ready to Build

      2.188 acre lot with well, septic, and electric.
      2060 Skippie Ln, Broadway, VA 22815
      View Details
    • $144,900
      1.61 Acres

      Residential Land Ready to Build

      1.61 acre lot with well, septic, and electric.
      2134 Skippie Ln, Broadway, VA 22815
      View Details
    • $216,000
      2.83 Acres

      2.83 Acres Near Broadway, VA

      Two lots near Broadway, suitable for a dream home.
      2767 Sunrise Dr, Broadway, VA 22815
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      181,645 SF

      Restaurant with Drive-Thru Lanes

      Former Burger King with drive-thru, near I-81 exit.
      10937 Valley Pike NORTH, Broadway, VA 22815
      View Details
    • $1.00 SF/Yr

      Downtown Broadway Commercial Space Available

      Versatile commercial space with multiple dock options in Broadway, VA.
      115-A Miller St, Broadway, VA 22815
      View Details
    • $1.00 SF/Yr

      Commercial Property in Broadway, VA

      Versatile commercial space suitable for office, retail, or service businesses.
      139 NORTH Main St, Broadway, VA 22815
      View Details
    • $6 SF/Yr
      4,250 SF

      Downtown Broadway Commercial Space Available

      Versatile commercial space with multiple dock options in Broadway, VA.
      169 N Main St, Broadway, VA 22815
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    413 Main St
    Broadway, VA 22815-9552
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    413 Main St, Broadway, VA, 22815
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!