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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Strip malls
182 Neff Ave Harrisonburg, VA 22801-3488
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US87-2869693
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1991
Total area
44,770 SF
Lot
4.49 ac (195,676 SF)
Zoning code
GENERAL BUSINESS
APN
078 C 19
UPID
US87-2869693
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
-
Sushi Jako Restaurant
-
Pollo A La Brasa Restaurant
-
Harrisonburg Chiropractic Center: Wright Raymond DC Alternative Medicine Practice
-
Asian Nail Nail Salon
-
DATIMAJJE Braids Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$1.00M
Owner & transaction history
Town Center Harrisonburg LLC · 6 yrs held
Town Center Harrisonburg LLC
since 2019
2 recorded transactions
Zoning & alternative use
GENERAL 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
by Request
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Current use
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10%
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
$22 / 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
$34,200
Tax year 2021
Assessed value
$3,800,000
Assessed 2021
Previous assessed
$3,800,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$3,033,000
Assessed improvement
$767,000
Land market value
$3,033,000
Improvement market value
$767,000
Total market value
$3,800,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1991
Stories
1
Total area
44,770 SF
Lot
4.49 ac (195,676 SF)
Zoning code
GENERAL BUSINESS
APN
078 C 19
UPID
US87-2869693
Jurisdiction
HARRISONBURG CITY
Zoning & alternative use
GENERAL BUSINESS · Harrisonburg, VAZoning 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
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1991
Stories
1
Lot
4.49 ac
Current owner
From public records · entity-resolved
Town Center Harrisonburg LLC
Entity
Mailing address
860 CANTERBURY CT, HARRISONBURG, VA 22801-1765
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2021
—
Town Center Harrisonburg LLC
—
Deed
related
$2,800,000 · Park View FCU
Sep 12, 2019
$2,800,000
Town Center Harrisonburg LLC
J & N Development Corporation
Deed
$1,600,000 · Park View FCU
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.
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