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Property profile & analytics
FOR SALE
Medical Office Space
1947 Medical Ave, Harrisonburg, VA 22801
Entity Owned
8-yr Hold
Free & Clear
Property ID
US87-2545709
For Sale
1 / 81
$2,290,000
1947 Medical Ave, Harrisonburg, VA 22801
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
6,000 SF
Lot
1.02 ac (44,640 SF)
Zoning code
GENERAL BUSINESS
APN
079 C 8
UPID
US87-2545709
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
-
Matthew Benin, LPC Counselor
-
Dr. F E. Comer, MD Pediatrician Medical Clinic
-
Christopher Ashton, MD Pediatrician Medical Clinic
-
Jon Tomei, MD Pediatrician Medical Clinic
-
Kathryn K. Litten, EDS Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$755k
Owner & transaction history
Grindstone Mt LLC · 8 yrs held
Grindstone Mt LLC
since 2018
2 recorded transactions
Zoning & alternative use
GENERAL BUSINESS · Harrisonburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+29.7%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$770,000
Current use
OFFICE BUILDING
$1,000,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$680,000
Change: -12% · Conversion: Easy
RETAIL STORES
$640,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$126 / 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
$16,577
Tax year 2021
Assessed value
$1,841,900
Assessed 2021
Previous assessed
$1,841,900
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$580,300
Assessed improvement
$1,261,600
Land market value
$580,300
Improvement market value
$1,261,600
Total market value
$1,841,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1998
Stories
2
Total area
6,000 SF
Lot
1.02 ac (44,640 SF)
Zoning code
GENERAL BUSINESS
APN
079 C 8
UPID
US87-2545709
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
MEDICAL BUILDING Current
Est. value
$770,000
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$680,000
RETAIL STORES
Est. value
$640,000
MEDICAL BUILDING Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1998
Stories
2
Lot
1.02 ac
Current owner
From public records · entity-resolved
Grindstone Mt LLC
Entity
Free & Clear · 8 yrs held
Mailing address
11634 BROCKS GAP RD, FULKS RUN, VA 22830-2220
Ownership since
2018
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
Feb 9, 2026
—
Mgmt Properties LLC
—
Deed
related
$484,000 · First Citizens Bank & Trust Co
Apr 3, 2018
—
Grindstone Mt LLC
Gary L Custer
Deed
—
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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