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

    1071 Port Republic Rd Harrisonburg, VA 22801

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land suitable for housing, mixed-use, or light industrial development.

    Lot size:
    9.91 Acres

    Property Features for 1071 Port Republic Rd

    General Information

    Lot size
    9.91 Acres

    We can help!

    Listing Contact
    John Pritzlaff, Iv
    Source: Moodyscre

    Listing Agent: John Pritzlaff, Iv

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Near James Madison University

    This property is suitable for housing, mixed-use, or light industrial development. It is located near James Madison University at the intersection of Port Republic Road and Peach Grove Avenue, providing easy access to Interstate 81 and major thoroughfares. The current vacancy rate for the residential market is 2.7%. The B-2 zoning allows a variety of uses. Harrisonburg serves the housing needs of students from JMU, Bridgewater College, and Eastern Mennonite University.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg
    State
    Virginia
    Longitude
    -78.869986
    Latitude
    38.4198979

    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, Harrisonburg, 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
    • $999,000
      4,600 SF

      Renovated Flex Space on Rt. 42

      Multi-use commercial space ideal for various business types.
      1090 Virginia Ave, Harrisonburg, VA 22802
      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
    • $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
    • $425,000
      Pending

      Harrisonburg Warehouse with Living Quarters

      Warehouse with living space, large doors, and outbuilding.
      119 Pleasant Hill Rd, Harrisonburg, VA 22801
      View Details
    • $2,200,000
      7,197 SF

      Harrisonburg Office Building For Sale

      7,200 SF professional office building in high-traffic location.
      530 Neff Ave, Harrisonburg, VA 22801
      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
    • $849,500
      Pending

      Harrisonburg Quad Investment Opportunity

      Four-unit residential building near downtown Harrisonburg, JMU, and I-81.
      1261 Old Windmill Cir, 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
    • $1,874,250
      1,008 SF

      Harrisonburg Townhouse Investment Opportunity

      Eight townhomes in Harrisonburg, VA, fully leased to long-term tenants.
      1460 W Market St, Harrisonburg, VA 22802
      View Details
    • $1,874,250
      1,008 SF

      Harrisonburg Multifamily Investment Opportunity

      Eight townhomes in Harrisonburg, VA, fully leased with strong rental history.
      1460 W Market St, Harrisonburg, VA 22802
      View Details

    FAQs

    What type of property is this?
    Land - Land suitable for housing, mixed-use, or light industrial development.
    Where is this land located?
    The property is located at 1071 Port Republic Rd Harrisonburg, VA.
    What are key features of this property?
    This property features: - Prominent location at the intersection of Port Republic Road and Peach Grove Avenue.; - Zoned B-2, allowing for a variety of uses (mixed-use, light industrial, residential).; - Easy access to Interstate 81 and major thoroughfares.
    (434) 249-6101 Call to check price and availability
    Request Owner's contact information
    1071 Port Republic Rd Harrisonburg, VA 22801
    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.
    1071 Port Republic Rd
    Harrisonburg, VA 22801
    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
    1071 Port Republic Rd Harrisonburg, VA 22801
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Pritzlaff, Iv
    (434) 249-6101 (434) 234-8460 (434) 234-8416
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!