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171 N Central St 4,800 SF Flex Building Broadway, VA 22815 $630,000 ($131.25/SF) 7.71% Cap Rate

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Executive Summary

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 Build-out & 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

2025 OM

Property Facts Under Contract

Price	$630,000	Lot Size	0.56 AC
Price Per SF	$131.25	Rentable Building Area	4,800 SF
Sale Type	Investment or Owner User	No. Stories	1
Cap Rate	7.71%	Year Built	2021
Property Type	Flex General Retail Bar General Retail Restaurant	Tenancy	Single
Building Class	C
Zoning	B1

Price	$630,000
Price Per SF	$131.25
Sale Type	Investment or Owner User
Cap Rate	7.71%
Property Type	Flex General Retail Bar General Retail Restaurant
Building Class	C
Lot Size	0.56 AC
Rentable Building Area	4,800 SF
No. Stories	1
Year Built	2021
Tenancy	Single
Zoning	B1

Major Tenants

Arts, Entertainment, and Recreation
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We have assembled the most talented Axe Throwing Team to deliver an amazing experience to all our guests. Beards & Broads is creating a culture that fosters community engagement by bringing together social interaction, friendly competition, and a passion for Throwing Axes. It is our honor to “Give Back” by supporting the Gary Sinise Foundation as well as our civil servants (military, police, fire & rescue, EMT, nurses, and teachers) right here in the beautiful Shenandoah Valley of Virginia. Beards & Broads is proud to be a disabled-veteran owned business. The masterminds behind Beards & Broads are Valley local, Jay Roderick and his brother-in-law, Kyle McQuillian! We are an Official Member of the World Axe Throwing League (WATL), which is covered by ESPN and hosts the yearly World Axe Throwing Championship.