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Property profile & analytics
FOR SALE
Office buildings
124 Newman Ave Harrisonburg, VA 22801
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-2736718
For Sale
1 / 37
$1,950,000
124 Newman Ave, Harrisonburg, VA 22801
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1905
Total area
5,564 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CENTRAL BUSINESS
APN
026 C 7 8
UPID
US87-2736718
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
HCHC: Care Management Medical Clinic
-
Sharp Litigation PLC Law Firm
-
Larson Wealth Management Financial Advisor
-
MountainWP Tech Support Center
-
Generate_Impact (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.58M
Owner & transaction history
Matthew S Landis · 4 yrs held
Matthew S Landis
since 2021
Last sale
$1.7M
3 recorded transactions
Zoning & alternative use
CENTRAL BUSINESS · Harrisonburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Harrisonburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Harrisonburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,495,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±10% · vs last sale $1.68M (Oct 29 2021)
Last sale anchor
$1.68M
Oct 29 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$283 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$14,175
Tax year 2021
Assessed value
$1,575,000
Assessed 2021
Previous assessed
$1,575,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$201,300
Assessed improvement
$1,373,700
Land market value
$201,300
Improvement market value
$1,373,700
Total market value
$1,575,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1905
Stories
1
Total area
5,564 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CENTRAL BUSINESS
APN
026 C 7 8
UPID
US87-2736718
Jurisdiction
HARRISONBURG CITY
Zoning & alternative use
CENTRAL BUSINESS · Harrisonburg, VA
Zoning CENTRAL BUSINESS · permitted uses
CENTRAL BUSINESS · Harrisonburg, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Harrisonburg. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1905
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Matthew S Landis
Individual
Mailing address
202 N LIBERTY ST, HARRISONBURG, VA 22802-3856
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2021
$1,675,000
Matthew S Landis
Box Five LLC
Deed
$1,655,500 · Dupont Community Cu
Oct 19, 2021
$697,218
Big City LLC
Box Five LLC
Deed
—
Oct 24, 2018
$970,000
Box Five LLC
Mason Building Corporation
Deed
$963,000 · Blue Ridge Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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