Fróðá was built in 1938 and stood originally at the south end of Akursbraut but was moved to Vesturgata 11 in 1950 when Akursbraut road was built. The house got its name Fróðá (information channel) because fishermen used to get together there for news and information. The house was mainly used as a workshop for making nets and sails but in later years it was used for baiting fishing lines and for storing things. The Akranes Folk Museum acquired Fróðá in 1988 which is now used as a workshop and storage space for the museum.