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Property profile & analytics
FOR LEASE
Strip malls
1790 E Market St Harrisonburg, VA 22802
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-2545706
For Lease
1 / 2
$23,220,000
1790 E Market St, Harrisonburg, VA 22802
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Total area
178,362 SF
Lot
19.68 ac (857,405 SF)
Zoning code
GENERAL BUSINESS
APN
073 D 1
UPID
US87-2545706
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
-
Sakura #10 Restaurant
-
Ruth N. Holmaas, NP-C Registered General Nurse
-
Papa John's Pizza Restaurant
-
Hair Cuttery Hair Salon
-
Tammy's Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.22M
Owner & transaction history
Bza Spotswood LLC · 3 yrs held
Bza Spotswood LLC
since 2023
Last sale
$23.0M
1 recorded transaction
Zoning & alternative use
GENERAL BUSINESS · Harrisonburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$29.8M
+455.1%
Medical building
$22.9M
+327.8%
Commercial (general)
$20.2M
+277.2%
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
$23,655,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$29,760,000
Change: +455% · Conversion: Moderate
MEDICAL BUILDING
$22,940,000
Change: +328% · Conversion: Difficult
COMMERCIAL (GENERAL)
$20,225,000
Change: +277% · Conversion: Easy
RETAIL STORES
$19,070,000
Change: +256% · Conversion: Easy
AUTO REPAIR, GARAGE
$18,255,000
Change: +240% · Conversion: Difficult
RESTAURANT
$17,655,000
Change: +229% · Conversion: Difficult
WAREHOUSE, STORAGE
$16,930,000
Change: +216% · Conversion: Difficult
Blend value · Realmo final
$23.22M
Range $20.90M – $25.54M · ±10% · vs last sale $23.00M (Jul 5 2023)
Last sale anchor
$23.00M
Jul 5 2023
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
$130 / 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
$160,217
Tax year 2021
Assessed value
$17,801,900
Assessed 2021
Previous assessed
$17,801,900
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$9,431,500
Assessed improvement
$8,370,400
Land market value
$9,431,500
Improvement market value
$8,370,400
Total market value
$17,801,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1988
Stories
1
Total area
178,362 SF
Lot
19.68 ac (857,405 SF)
Zoning code
GENERAL BUSINESS
APN
073 D 1
UPID
US87-2545706
Jurisdiction
HARRISONBURG CITY
Zoning & alternative use
GENERAL BUSINESS · Harrisonburg, VA
Zoning GENERAL BUSINESS · permitted uses
GENERAL 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$29.8M
MEDICAL BUILDING
Est. value
$22.9M
COMMERCIAL (GENERAL)
Est. value
$20.2M
RETAIL STORES
Est. value
$19.1M
AUTO REPAIR, GARAGE
Est. value
$18.3M
RESTAURANT
Est. value
$17.7M
WAREHOUSE, STORAGE
Est. value
$16.9M
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
RESTAURANT
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Stories
1
Lot
19.68 ac
Current owner
From public records · entity-resolved
Bza Spotswood LLC
Entity
Mailing address
604 BANYAN TRL, BOCA RATON, FL 33481-5001
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2023
$23,000,000
Bza Spotswood LLC
Bsv Spotswood LLC
Special Warranty Deed
$16,850,000 · City National Bank Of Florida
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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