Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3772 NORTH VALLEY PIKE Harrisonburg, VA 22802

    View on Map
    For Sale
    $1,225,000

    Land - ROCKINGHAM, VA

    Lot size:
    17.70 Acres
    Added:
    Aug 31, 2022
    Days on Market:
    1314
    Last Refresh:
    Apr 5 at 5:06 am

    Property Features for 3772 NORTH VALLEY PIKE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-1 Commercial
    Standard status
    Active
    APN
    95-(A)- L78 & 79; 95-(5)- L1C
    Lot size
    17.70 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9268

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas Oberholtzer

    Listing agent Thomas Oberholtzer License #0225221906

    Listing office Cottonwood Commercial LLC 1960 Evelyn Byrd Ave, Harrisonburg, VA

    Listing date Aug 31, 2022

    MLS# 634270 Listing URL

    Copyright © 2026 Harrisonburg-Rockingham Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    ROCKINGHAM, VA Land For Sale

    This property consists of over 17 acres spread across three parcels, zoned B1 Commercial. Situated at I-81 Exit 251, it provides access to the Shenandoah Valley. The location is suitable for supporting the logistics industry and other businesses that utilize I-81, or for a business supporting the community regionally.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg
    State
    Virginia
    Longitude
    -78.8181511
    Latitude
    38.4803992

    Nearby Similar for Sale

    • $995,000
      5,199 SF

      Professional Office Building For Sale

      5,200 SF office building in Rockingham County, Virginia.
      1591 PORT REPUBLIC RD, ROCKINGHAM, VA 22801
      View Details
    • $390,000
      9,640 SF

      Historic Building in Central Business District

      Historic mixed-use building in Harrisonburg's Central Business District.
      301 S MAIN ST, HARRISONBURG, VA 22801
      View Details
    • $1,750,000
      8,171 SF

      Versatile Commercial Building in Harrisonburg

      8171 Sq. Ft. commercial property on 2 acres.
      1207 N LIBERTY ST, HARRISONBURG, VA 22802
      View Details
    • $2,290,000
      10,950 SF

      Medical Office Condo For Sale

      Two-story medical office condo leased to UVA Pediatrics.
      1947 MEDICAL AVE, HARRISONBURG, VA 22801
      View Details
    • $950,000
      4,960 SF

      Downtown Harrisonburg Office Building For Sale

      Two-story office building in downtown Harrisonburg with income potential.
      66 W WATER ST, HARRISONBURG, VA 22801
      View Details
    • $509,000
      2,646 SF

      Rockingham Duplex with Renovated Unit

      Well-maintained duplex in Rockingham County with strong income potential.
      2502 RIDGEDALE, ROCKINGHAM, VA 22801
      View Details
    • $509,000
      2,646 SF

      Rockingham Duplex: Renovated and Maintained

      Well-maintained duplex in Rockingham County with renovated upper unit.
      2502 RIDGEDALE RD, ROCKINGHAM, VA 22801
      View Details
    • $1,700,000
      11,000 SF

      New Construction Flex/Warehouse Space

      Versatile 11,000 sq ft flex/warehouse space for sale.
      975 SAWTOOTH OAK CIR, HARRISONBURG, VA 22802
      View Details
    • $2,295,000
      12,920 SF

      Harrisonburg Commercial Building with Showroom

      12,920 SF commercial facility in downtown Harrisonburg, Virginia.
      60 E Rock St, Harrisonburg, VA 22802
      View Details
    • $3,750,000
      7,110 SF

      Restaurant Building Near James Madison University

      Restaurant building near university with high capacity kitchen and parking.
      350 UNIVERSITY BLVD, HARRISONBURG, VA 22801
      View Details
    • $2,990,000

      Prime Development Land I-81 Exit

      6.01 acre development opportunity near I-81 and S Main.
      55 BAXTER DR, HARRISONBURG, VA 22801
      View Details
    • $425,000
      6,730 SF

      Harrisonburg Warehouse with Living Quarters

      Warehouse with living space, large doors, and outbuilding.
      119 PLEASANT HILL RD, HARRISONBURG, VA 22801
      View Details

    FAQs

    What type of property is this?
    Land - 17+ acre commercial land near I-81 Exit 251.
    Where is this land located?
    The property is located at 3772 NORTH VALLEY PIKE Harrisonburg, VA.
    What is the asking price?
    The asking price for this property is $1,225,000.
    What are key features of this property?
    This property features: 17+ acres on 3 parcels zoned B1; Located on I‑81 Exit 251, gateway to Harrisonburg; Unparalleled access to the Shenandoah Valley and beyond
    (540) 810-6242
    We can help!
    Listing Contact
    Thomas Oberholtzer
    Real Estate License ID: 0225221906
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!