Rezoned Student Housing Development
For Sale
Contact for pricing
Pending
1351 Peach Grove Ave, Harrisonburg, VA 22801
5.438-acre parcel rezoned R-5 with approved concept plans and supporting studies for high-density residential development.
Property SizeContact for details
Lot Size5.44 Acres
Days on Market839
Property Features for 1351 Peach Grove Ave
General Information
Standard status
Pending
Total Parking Spaces
410
Lot size
5.44 Acres
Property subtype
Land
Zoning
R5
Additional Details
Road Access
Yes
Building Details
Stories
6
Listing Agency:
Forbes Development LLC
Listed By:
Jeff Forbes · License #OWNER Not a broker
Source:
Crexi
Added: Apr 24, 2024
Changed: Aug 8
Last Checked: Apr 24 at 11:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Forbes Development LLC
Investment Insights
Based on property information with market context.
A 5.438-acre land parcel is offered for student housing development with high-density residential zoning in place. The property is rezoned to R-5 (Residential) and includes plus 2 special use permits. City-approved original concept materials are available, including site plan approval on August 17, 2020, and architectural drawings approved on September 9, 2020; updated plans will require resubmission. The documentation package also includes a completed topographical survey (October 27, 2019), an ALTA/NSPS land title survey (conducted February 2021 and December 2024), and a clean Phase I environmental site assessment dated October 22, 2020, along with a geotechnical exploration report completed November 8, 2019.
The property is positioned adjacent to James Madison University’s Sentara Park and is 9/10 of a mile from JMU’s main entrance. The concept designs shown in the materials envision multi-building, multi-bedroom student housing structures with on-site parking included.
The original project concept contemplates a six-story structure fronting Peach Grove Avenue with an access road, with parking planned on-site. A later approved project concept submitted by a separate party is also reflected in the available materials, including two separate five-story building concepts and a revised on-site parking count.
The property is positioned adjacent to James Madison University’s Sentara Park and is 9/10 of a mile from JMU’s main entrance. The concept designs shown in the materials envision multi-building, multi-bedroom student housing structures with on-site parking included.
The original project concept contemplates a six-story structure fronting Peach Grove Avenue with an access road, with parking planned on-site. A later approved project concept submitted by a separate party is also reflected in the available materials, including two separate five-story building concepts and a revised on-site parking count.
Key Highlights
- 5.438‑acre parcel rezoned R‑5 (high‑density residential) with R‑5 plus 2 special use permits
- Adjacent to JMU’s Sentara Park; 9/10 mile from JMU’s main entrance
- City‑approved original concept plans: 460 beds (24 two‑bedroom units, 103 four‑bedroom units) in a six‑story design
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 22801, VA
40,460
Population
15,820
Households
2.6
Avg Household Size
29
Median Age
43%
College-Educated
89%
High-School Grad
33.9 sq mi
ZIP Area
1,194
Density / Sq Mi
$70,779
Median Household Income
$29,241
Median Earnings
$1,235
Median Rent
$340,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 5.438-acre parcel rezoned R-5 with approved concept plans and supporting studies for high-density residential development.
Where is this residential land & home lot located?
The property is located at 1351 Peach Grove Ave Harrisonburg, VA.
What are key features of this property?
This property features: 5.438‑acre parcel rezoned R‑5 (high‑density residential) with R‑5 plus 2 special use permits; Adjacent to JMU’s Sentara Park; 9/10 mile from JMU’s main entrance; City‑approved original concept plans: 460 beds (24 two‑bedroom units, 103 four‑bedroom units) in a six‑story design
