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    Property profile & analytics

    7783 Main St Middletown, VA 22645

    • Commercial real estate
    • 20,820 SF
    • 3.88 lot acres
    For Sale
    View listing
    Last Sale
    Jan 15, 2021
    $650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0847023
    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

    • Wayside Inn & Larrick's Tavern / Hotel / Bar
    • WI Wedding Planner / Wedding Planner

    Property Details for 7783 Main St

    Year built
    1797
    Construction
    FRAME
    Lot size
    3.88 lot acres
    Property size
    20,820 SF
    Zone code
    NEIGHBORHOOD BUSINESS
    Property type
    Commercial real estate
    APN
    91B1-B-11
    APU
    91B1B11

    Description

    The Wayside Inn, a historic landmark in Middletown, VA, presents a unique commercial opportunity. This 18th-century property features 22 suites, each with its own bathroom. The restaurant and pub currently operate under a two-year lease. Situated on nearly four acres of B1-zoned land, the property offers significant expansion potential. Allowed uses under the B1 zoning include a wide range of commercial ventures, such as restaurants (excluding fast-food), hotels, retail stores, office buildings, and more. The expansive grounds provide ample space for outdoor amenities or additional structures. Its location in the Shenandoah Valley, with easy access to major transportation routes and nearby attractions, makes it ideal for a thriving business. The property is prime for an owner-occupant and offers potential for lease options and owner financing. This is a rare chance to acquire a piece of history with substantial commercial potential, allowing for the creation of a vibrant commercial hub within a picturesque setting. The property's rich history and versatile zoning create a unique investment opportunity for entrepreneurs and developers alike. This is a chance to transform a historic landmark into a cornerstone of the Middletown community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $795,000
      ML approach
      $855,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,303,000
      Market price range: $994k - $2.93M

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Frederick
    State
    Virginia
    Longitude
    -78.2773
    Latitude
    39.0309
    CBSA code
    49020
    CBSA name
    WINCHESTER, VA-WV 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
    $3,053
    $613,500
    $583,900
    $1,197,400
    -
    $613,500
    $583,900
    $1,197,400

    Comparable in this City

    • Value Estimation
      $280,000
      1,362 SF

      6931 Vly Pike

      COMMERCIAL (GENERAL) • 1,362 SF
      6931 Vly Pike, Middletown, VA 22645
      View Details
    • Value Estimation by Request
      3.84 Acres

      Lot# 52 Reliance Rd

      Land • 3.84 Acres
      Lot# 52 Reliance Rd, Middletown, VA 22645
      View Details
    • Value Estimation
      $340,000
      4,000 SF

      7451 Main St

      COMMERCIAL (GENERAL) • 4,000 SF
      7451 Main St, Middletown, VA 22645-9585
      View Details
    • Value Estimation
      $1,670,000
      9,301 SF

      7695 Main St

      COMMERCIAL (GENERAL) • 9,301 SF
      7695 Main St, Middletown, VA 22645-9532
      View Details
    • Value Estimation
      $305,000
      3,387 SF

      8140 Vly Pike

      COMMERCIAL (GENERAL) • 3,387 SF
      8140 Vly Pike, Middletown, VA 22645-1909
      View Details
    • Value Estimation by Request
      2.14 Acres

      1 Reliance Rd

      Land • 2.14 Acres
      1 Reliance Rd, Middletown, VA 22645
      View Details

    Similar Nearby for Sale

    • $875,000
      2.14 Acres

      1 Reliance Rd

      Land • 2.14 Acres
      1 Reliance Rd, Middletown, VA 22645
      View Details
    • Contact for pricing
      3.88 Acres

      Historic Wayside Inn, Middletown, VA

      Prime Commercial Property, 22 Suites
      7783 Main St, Middletown, VA 22645
      View Details
    • $599,900
      3,730 SF

      7994 Main St, Middletown, VA 22645

      Mixed-use properties • 3,730 SF
      7994 Main St, Middletown, VA 22645
      View Details
    • $2,300,000
      183.19 Acres

      Middletown VA Land Subdivision Potential

      183 acres near Sly Fox Golf Club, subdivision potential.
      Reliance Rd, Middletown, VA 22645
      View Details
    • New
      $480,000
      20.00 Acres

      20 Acres with River Frontage

      20-acre parcel with river frontage and mountain views.
      River Ridge Dr, Middletown, VA 22645
      View Details
    • $110,000
      2.00 Acres

      Secluded Building Lot with Views

      Two-acre building lot with mountain views and lake access.
      Comforter Ln, Middletown, VA 22645
      View Details
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    7783 Main St
    Middletown, VA 22645
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    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
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