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702 Market St Harrisonburg, VA 22801-4235

OFF-MARKET Drive through restaurants Google Maps
1,134 SF 0.36 ac lot
Individually Owned 6-yr Hold Free & Clear
Estimated value (blended)
$240k
Range $216k – $264k (±10%)
Property ID US87-2890417

Property summary

AI-generated overview

This exceptional 5.44-acre commercial land parcel in Harrisonburg, Virginia, presents a unique investment opportunity. Located at 702 E Market Street, this property boasts significant frontage on a major thoroughfare with a daily traffic count exceeding 16,000 vehicles. The B2 zoning allows for a wide range of commercial uses, making it ideal for various business ventures. The site includes a former restaurant building situated on a hill at the corner of the property, offering potential for redevelopment or repurposing. The remaining acreage provides ample space for new construction, with public utilities readily accessible along East Market Street. The property's proximity to downtown Harrisonburg and Interstate 81 ensures excellent visibility and accessibility for both local and interstate traffic. Surrounded by residential areas and other businesses, this location offers a strong potential customer base. While the current zoning is B2, there is potential for rezoning through the City of Harrisonburg, further enhancing development possibilities. This property is situated in the 22801 zip code. This is a rare opportunity to acquire a substantial commercial lot in a thriving Virginia city.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Total area 1,134 SF
Lot 0.36 ac (15,682 SF)
Zoning code GENERAL BUSINESS
APN 032 G 1-B
UPID US87-2890417

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$240k

Owner & transaction history

since 2020
1 recorded transaction
2020
Price N/A

Zoning & alternative use

GENERAL BUSINESS · Harrisonburg, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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