Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    620 Hawkins St Harrisonburg, VA 22801-4348
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    620 Hawkins St Harrisonburg, VA 22801-4348

    View on Map
    • Retail space
    • 864 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Mar 29, 2022
    Property ID
    US87-3128726
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pupuseria y Tienda Latina El Milagro / Restaurant
    • MoneyGram / Bank / Credit Union
    • IBM / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 620 Hawkins St

    Year built
    1983
    Lot size
    0.27 lot acres
    Property size
    864 SF
    Zone code
    GENERAL BUSINESS
    Property type
    Retail space
    APN
    028 K 24
    APU
    028K24

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg City
    State
    Virginia
    Longitude
    -78.8551
    Latitude
    38.4462
    CBSA code
    25500
    CBSA name
    HARRISONBURG, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $4,778
    $86,900
    $444,000
    $530,900
    -
    $86,900
    $444,000
    $530,900

    Comparable in this City

    • Value Estimation
      $555,000
      7,040 SF

      3237 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,040 SF
      3237 Main St, Harrisonburg, VA 22801-2673
      View Details
    • Value Estimation
      $740,000
      19,324 SF

      600 Market St

      RETAIL STORES (PERSONAL SERVICES) • 19,324 SF
      600 Market St, Harrisonburg, VA 22801-2101
      View Details
    • Value Estimation
      $605,000
      6,400 SF

      1810 Market St

      RETAIL STORES (PERSONAL SERVICES) • 6,400 SF
      1810 Market St, Harrisonburg, VA 22801-5102
      View Details
    • Value Estimation by Request
      4,323 SF

      210 University Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,323 SF
      210 University Blvd, Harrisonburg, VA 22801-3774
      View Details
    • Value Estimation by Request
      2,907 SF

      2061 Evelyn Byrd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,907 SF
      2061 Evelyn Byrd Ave, Harrisonburg, VA 22801-3442
      View Details
    • Value Estimation
      $2,090,000
      10,548 SF

      1970 Evelyn Byrd Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,548 SF
      1970 Evelyn Byrd Ave, Harrisonburg, VA 22801-3423
      View Details

    Similar Nearby for Sale

    • $390,000
      Pending

      Historic Building in Central Business District

      Historic mixed-use building in Harrisonburg's Central Business District.
      301 S Main St, Harrisonburg, VA 22801
      View Details
    • $150,000
      Pending

      Retail Building in Harrisonburg, VA

      583 SF retail building in a thriving Harrisonburg location.
      55 E Market St, Harrisonburg, VA 22801
      View Details
    • $416,100
      1,440 SF

      Commercial Building on High-Traffic Corridor

      Commercial building on 0.52 acres with high visibility.
      3040 South Main St, Harrisonburg, VA 22801
      View Details
    • $689,900
      3,072 SF

      Commercial Building on High-Traffic Corridor

      Commercial building suitable for redevelopment, automotive, retail, or mixed-use.
      3030 South Main St, Harrisonburg, VA 22801
      View Details
    • Contact for pricing

      Commercial Property in Harrisonburg, VA

      Commercial property available for sale in Harrisonburg, Virginia.
      41 Carpenter Ln, Harrisonburg, VA 22801
      View Details
    • Contact for pricing
      10,336 SF

      Established CVS Pharmacy Investment Opportunity

      Long-term CVS lease with renewal options and rental increases.
      780 Martin Luther King Jr Way, Harrisonburg, VA 22801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,596 SF

      Retail Spaces Near James Madison

      Retail spaces available near James Madison University and anchored by Kroger.
      1790 E Market St, Harrisonburg, VA 22801
      View Details
    • Contact for pricing
      24,455 SF

      Retail Space in Cloverleaf Center

      Retail suite available in Harrisonburg's Cloverleaf Shopping Center.
      125-139 S Carlton St, Harrisonburg, VA 22801
      View Details
    • $1.00 SF/Yr

      Downtown Harrisonburg Building For Lease

      3,718 SF of flexible space in the heart of Downtown.
      22 S Main St, Harrisonburg, VA 22801
      View Details
    • Contact for pricing
      1,202 SF

      Retail Space in Garber's Crossing

      Retail space available in busy shopping center.
      2184-2204 John Wayland Hwy, Harrisonburg, VA 22801
      View Details
    • $3,975 /Mo
      1,653 SF

      Downtown Harrisonburg Retail Space Available

      Renovated retail space with dedicated parking in downtown Harrisonburg.
      219 E Market St, Harrisonburg, VA 22801
      View Details
    • $1.00 SF/Yr

      Visible Retail Space on Market

      High-visibility retail space available off Interstate 81.
      1550 E Market St, Harrisonburg, VA 22801
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    620 Hawkins St
    Harrisonburg, VA 22801-4348
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!