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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1377 Liberty St Harrisonburg, VA 22802

    • Commercial real estate
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3161047
    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

    • Commercial real estate

    Property Details for 1377 Liberty St

    Lot size
    0.96 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.96-acre commercial lot is ideally situated in a rapidly growing northern Harrisonburg area. Boasting a prime corner location at the intersection of Mt. Clinton Pike and N. Liberty Street, this property offers significant road frontage: 53.9 feet on N. Liberty Street and 188.3 feet on Mt. Clinton Pike. Its M1 zoning allows for a variety of uses, making it highly versatile for potential tenants. Proximity to key locations adds to its appeal; it's less than a mile from Virginia Avenue and Eastern Mennonite University, and conveniently located near the new Holtzman gas station complex and retail center on N. Valley Pike. The property is available for lease as-is, or the owner will consider build-to-suit options to accommodate specific tenant needs. Potential uses include ample truck and vehicle parking, a small- to medium-sized bay warehouse development, or a repair shop, among other possibilities permitted under M1 zoning. The monthly lease rate is $1500, with an additional $93.60 monthly CAM fee. This presents a unique opportunity to establish a presence in a thriving commercial corridor. Don't miss this chance to secure a strategic location for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg City
    State
    Virginia
    Longitude
    -78.863009
    Latitude
    38.467403

    Comparable in this City

    • $5 SF/Yr
      10,000 SF

      1047 Mt Clinton Pike

      Distribution properties • 10,000 SF
      1047 Mount Clinton Pike, Harrisonburg, VA 22802
      View Details
    • $15 SF/Yr
      6,600 SF

      Harpine Highway Flex Space

      Unique warehouse/retail space available.
      3315 Harpine Hwy, Harrisonburg, VA 22802
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    • $12 SF/Yr
      12,920 SF

      Versatile Commercial Space in Harrisonburg

      12,920 SF commercial space suitable for retail, warehouse, or flex.
      60 E Rock St, Harrisonburg, VA 22802
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    • $1.00 SF/Yr

      Harrisonburg Warehouse Space For Lease

      Flexible 3,100 SF warehouse space with easy I-81 access.
      1680 Country Club Rd, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr
      54,450 SF

      New Construction Warehouse/Flex Space

      New 11,000 sq ft warehouse/flex space available for lease.
      975 Sawtooth Oak Cir, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr
      39,640 SF

      Renovated Flex Space in Harrisonburg

      Multi-use commercial space ideal for various business types.
      1090 Virginia Ave, Harrisonburg, VA 22802
      View Details

    Similar Nearby for Sale

    • $1,795,000
      5.79 Acres

      Harrisonburg Commercial Property

      Prime 7,000 SF Auto Shop & Land
      2794 Valley Pike, Harrisonburg, VA 22802
      View Details
    • $960,400
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      Harrisonburg Industrial Land - 12 Acres

      Prime 12-acre commercial/industrial lot in Harrisonburg, VA
      0 Mount Clinton Pike, Harrisonburg, VA 22802
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    • $740,000
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      Harrisonburg Industrial Land - 6 Acres

      Prime Industrial Land, Divisible, Great Access
      Clinton Pike Tbd Mt, Harrisonburg, VA 22802
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    • $275,000
      0.58 Acres

      Industrial Land with Approved Plans

      Industrial land with approved plans for a 5,000 SF warehouse.
      966 Sawtooth Oak Cir, Harrisonburg, VA 22802
      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
    • $1,700,000
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      New Warehouse/Flex Space in Harrisonburg

      New 11,000 sq ft warehouse/flex space with customization options.
      975 Sawtooth Oak Cir, Harrisonburg, VA 22802
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      10,000 SF

      1047 Mt Clinton Pike

      Distribution properties • 10,000 SF
      1047 Mount Clinton Pike, Harrisonburg, VA 22802
      View Details
    • $15 SF/Yr
      6,600 SF

      Harpine Highway Flex Space

      Unique warehouse/retail space available.
      3315 Harpine Hwy, Harrisonburg, VA 22802
      View Details
    • $12 SF/Yr
      12,920 SF

      Versatile Commercial Space in Harrisonburg

      12,920 SF commercial space suitable for retail, warehouse, or flex.
      60 E Rock St, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr

      Harrisonburg Warehouse Space For Lease

      Flexible 3,100 SF warehouse space with easy I-81 access.
      1680 Country Club Rd, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr
      54,450 SF

      New Construction Warehouse/Flex Space

      New 11,000 sq ft warehouse/flex space available for lease.
      975 Sawtooth Oak Cir, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr
      39,640 SF

      Renovated Flex Space in Harrisonburg

      Multi-use commercial space ideal for various business types.
      1090 Virginia Ave, Harrisonburg, VA 22802
      View Details
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    1377 Liberty St
    Harrisonburg, VA 22802
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    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
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