1657 Stone Spring Rd Harrisonburg, VA 22801
- Retail properties
- 2,325 SF
- 0.97 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1657 Stone Spring Rd
- Year built
- 2024
- Lot size
- 0.97 lot acres
- Property size
- 2,325 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple, 2,325 square foot Chipotle restaurant in Harrisonburg, Virginia. The property boasts a new construction, 15.4-year NNN lease with a corporate guarantee, featuring 10% rent bumps every five years and four 5-year renewal options. The lease commenced May 29, 2025, and expires May 31, 2040. The property includes a Chipotlane drive-thru and outdoor patio, strategically located on Stone Spring Road (VA Route 280), a major commercial corridor with high traffic counts (approximately 12,000 vehicles daily). The site benefits from excellent visibility and convenient access to Interstate 81, US Highway 33, Sentara RMH Medical Center, and James Madison University. Strong demographics, with over 45,200 people within a 3-mile radius and an average household income exceeding $121,000, further enhance the investment's appeal. The property's location within a thriving retail area, surrounded by national brands like Walmart, CVS, and other popular restaurants, ensures consistent customer traffic. The 0.97-acre lot and single-story building were constructed in 2024. The property generates a Net Operating Income (NOI) of $140,000, representing a 5.00% cap rate on the $2,800,000 asking price. This is a truly passive investment opportunity with zero management responsibilities, offering significant long-term growth potential and a strong return on investment.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Harrisonburg
- County
- Rockingham
- State
- Virginia
- Longitude
- -78.8685
- Latitude
- 38.4046
