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Kate Lucas

katelucasrealestate@gmail.com +1(804) 400-3063

$ 630,000

Est. payment -/mo

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Active

175 N CENTRAL ST Broadway, VA 22815

4,800 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Building

Listing Status Active

Purchase Type For Sale

Square Footage 4,800 sqft

Price per Sqft $131

MLS Listing ID 663386

Construction Status Resale

HOA Y/N No

Year Built 2021

Annual Tax Amount $2,269

Tax Year 2024

Lot Size 0.510 Acres

Acres 0.51

Property Sub-Type Building

Property Description

Originally built in 2021 as a 6 Bay Garage w/12' x 12' overhead doors, "Broadway Bays" is a 4,800 sq ft bldg, strategically located one block from Downtown & 13 miles north of Harrisonburg. Restaurant Buildout & HVAC upgrade completed in 2022 along w/flooring & mechanics to support current tenant (has EXCELLENT rental history), w/a 5year lease that ends Jun 30, 2027. 2% rent bumps every 12 mos. w/lease intakes as scheduled: 2024=$51,922.08 2025=$52,960.50 2026=$54,019.68 2027=$27,277.26 (Jan - Jun) Property is centrally located w/easy access to residential & commercial districts. Tenant's business is pivotal in Broadway's community & well known throughout the Central Shenandoah Valley. Broadway's population of 4255 has a median age of 37 & median household income of $62,123 (2022), up from $57,878 (2020). Known for its bucolic scenery, the area industries focus on manufacturing, retail, & an attractive destination for those seeking to enjoy the countryside. Broadway had a population of 4,255 in 2022 & is growing at a rate of 0.98% annually & its population has increased by 4.03% since the most recent Census. 2024 OWNER EXPENSES *Rockingham Taxes 2269.84 *Broadway Taxes 333.80 *Insurance 660.00 *HVAC 84.00

Location

State VA

County Rockingham

Area Rockingham Co Nw

Zoning B-1 Business General

Direction VA Rt 42 to Broadway, Continue North on Main St, Right on Miller St, Left on N. Central. Property at corner of Miller and N. Central St.

Interior

Heating Electric, Forced Air

Cooling Central Air, Ductless

Flooring Concrete

Fireplace No

Exterior

Parking Features Private, Three or more Spaces

Fence None

Water Access Desc Connected,Public

Roof Type Metal

Street Surface Paved

Building

Sewer Connected

Water Connected, Public

Level or Stories One

Construction Status Resale

Others

Tax ID 37600

Listed by KW COMMONWEALTH