Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    103 Main St Harrisonburg, VA 22801-3602

    • Investment properties
    • 7,400 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2914914
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Oasis Fine Art & Craft / Art Gallery / Photography Studio

    Property Details for 103 Main St

    Lot size
    0.07 lot acres
    Property size
    7,400 SF
    Zone code
    CENTRAL BUSINESS
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    026 B 7 8
    APU
    026B78

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg City
    State
    Virginia
    Longitude
    -78.8691
    Latitude
    38.4483
    CBSA code
    25500
    CBSA name
    HARRISONBURG, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $9,324
    $118,400
    $917,600
    $1,036,000
    -
    $118,400
    $917,600
    $1,036,000

    Comparable in this City

    • Value Estimation
      $415,000
      15,250 SF

      1960 Evelyn Byrd Ave

      STORE/OFFICE (MIXED USE) • 15,250 SF
      1960 Evelyn Byrd Ave, Harrisonburg, VA 22801-3423
      View Details
    • Value Estimation
      $310,000
      8,000 SF

      1901 Main St

      STORE/OFFICE (MIXED USE) • 8,000 SF
      1901 Main St, Harrisonburg, VA 22801-5726
      View Details
    • Value Estimation
      $280,000
      3,000 SF

      2050 Pro Pointe Ln

      STORE/OFFICE (MIXED USE) • 3,000 SF
      2050 Pro Pointe Ln, Harrisonburg, VA 22801-8021
      View Details
    • Value Estimation
      $260,000
      1,800 SF

      30 Baxter Dr Ste, Unit 150

      STORE/OFFICE (MIXED USE) • 1,800 SF
      30 Baxter Dr Ste, Harrisonburg, VA 22801-7632
      View Details
    • Value Estimation
      $260,000
      1,800 SF

      30 Baxter Dr Ste, Unit 160

      STORE/OFFICE (MIXED USE) • 1,800 SF
      30 Baxter Dr Ste, Harrisonburg, VA 22801-7632
      View Details
    • Value Estimation
      $295,000
      4,000 SF

      1890 Main St

      STORE/OFFICE (MIXED USE) • 4,000 SF
      1890 Main St, Harrisonburg, VA 22801-5723
      View Details

    Similar Nearby for Sale

    • $5,000,000
      9.91 Acres

      West Plaza Retail Center

      Three Suites Available, Bexar County
      1071 Port Republic Rd, Harrisonburg, VA 22801
      View Details
    • $349,000
      0.48 Acres

      Deyerle Ave Commercial Land

      Prime Harrisonburg location, vacant lot, B-2 zoning.
      2050 Deyerle Ave, Harrisonburg, VA 22801
      View Details
    • $4,795,000
      9.37 Acres

      Harrisonburg Retail Land Opportunity

      Prime 9.37-acre retail site, high traffic
      3050 Main St, Harrisonburg, VA 22801
      View Details
    • $825,000
      9.19 Acres

      Harrisonburg Residential Land

      9+ Acres, R1 Zoning, City Limits
      1255 Greendale Rd, Harrisonburg, VA 22801
      View Details
    • $975,000

      Rockingham Specialty Property For Sale

      Specialty property available for purchase in Rockingham, Virginia.
      121 Claremont Ave, Harrisonburg, VA 22801
      View Details
    • $80,000
      0.26 Acres

      Residential Lot in Willow Ridge

      0.26-acre residential lot in Harrisonburg, VA, no HOA fees.
      2132 Willow Hill Dr, Harrisonburg, VA 22801
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,078 SF

      Neff Avenue Office Suite 500

      Prime Office Space, 1078 sq ft
      560 Neff Ave, Harrisonburg, VA 22801
      View Details
    • $18 SF/Yr
      2,169 SF

      Neff Avenue Office Building For Sale

      Prime Medical/Office Space Available
      590 Neff Ave, Harrisonburg, VA 22801
      View Details
    • $14 SF/Yr
      4,700 SF

      Office Space Ready for Design

      Office space available for rent, design to suit needs.
      871 Martin Luther King Jr Way, Harrisonburg, VA 22801
      View Details
    • $12 SF/Yr
      10,438 SF

      Harrisonburg Office Space For Lease

      First floor office space with parking near I-81.
      3900 Early Rd, Harrisonburg, VA 22801
      View Details
    • $1.00 SF/Yr
      33,106 SF

      Harrisonburg Office Space For Rent

      3200 SF office space in growing Harrisonburg business sector.
      3230 Peoples Dr, Harrisonburg, VA 22801
      View Details
    • $1.00 SF/Yr

      Restaurant Space Near James Madison

      Former Island Wing location near James Madison University.
      350 University Blvd, Harrisonburg, VA 22801
      View Details
    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.
    103 Main St
    Harrisonburg, VA 22801-3602
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.