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Property profile & analytics
FOR LEASE
Investment properties
351 N Mason St Harrisonburg, VA 22802
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-2730979
For Lease
1 / 3
$20 SF/Yr
351 N Mason St, Harrisonburg, VA 22802
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2010
Total area
5,534 SF
Lot
2.2 ac (95,919 SF)
Zoning code
CENTRAL BUSINESS
APN
034 I 5
UPID
US87-2730979
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
-
Colonnade Apartments Apartment Complex Apartment Building
-
US Probation Probation Office
-
Social Security Administration Social Security Office
-
Department of Aging and Rehabilitation State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$749k
Blend (final)
Blend
$735k
Owner & transaction history
COLONNADE REALTY PARTNERS
COLONNADE REALTY PARTNERS
Zoning & alternative use
CENTRAL BUSINESS · Harrisonburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$955,000
+135.3%
Medical building
$695,000
+71.0%
Auto repair, garage
$590,000
+45.2%
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
by Request
ML approach
$725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$955,000
Change: +135% · Conversion: Easy
MEDICAL BUILDING
$695,000
Change: +71% · Conversion: Easy
AUTO REPAIR, GARAGE
$590,000
Change: +45% · Conversion: Difficult
RESTAURANT
$560,000
Change: +39% · Conversion: Difficult
WAREHOUSE, STORAGE
$465,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$133 / 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
$37,632
Tax year 2021
Assessed value
$4,181,300
Assessed 2021
Previous assessed
$4,181,300
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed improvement
$4,181,300
Improvement market value
$4,181,300
Total market value
$4,181,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
2010
Stories
4
Total area
5,534 SF
Lot
2.2 ac (95,919 SF)
Zoning code
CENTRAL BUSINESS
APN
034 I 5
UPID
US87-2730979
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$955,000
MEDICAL BUILDING
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$590,000
RESTAURANT
Est. value
$560,000
WAREHOUSE, STORAGE
Est. value
$465,000
OFFICE BUILDING
MEDICAL BUILDING
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
2010
Stories
4
Lot
2.2 ac
Current owner
From public records · entity-resolved
COLONNADE REALTY PARTNERS
Entity
Free & Clear · 0 yrs held
Mailing address
1821 AVON ST EXT #200, CHARLOTTESVILLE, VA 22902-8721
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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