973 Reservoir St Harrisonburg, VA 22801
This exceptional 3.66-acre parcel in Harrisonburg, Virginia, presents a compelling redevelopment opportunity. Located at 973 Reservoir Street, zip code 22801, this property boasts R3C zoning, allowing for a variety of uses, including multifamily residential and commercial development. Its strategic location offers easy access to essential utilities, including water and sewer. The land is ideally situated amidst a blend of residential and commercial establishments, benefiting from existing infrastructure and a thriving community. The City of Harrisonburg's comprehensive plan designates this area for "Light Commercial" development, further enhancing its potential. Convenient access to both Reservoir Street and Martin Luther King Jr. Way provides excellent connectivity. The property's proximity to James Madison University, Downtown Harrisonburg, and I-81 Exit 247 ensures high visibility and accessibility, making it an attractive investment for developers seeking a prime location with significant growth potential. The asking price is $795,000. This is a rare chance to acquire a substantial land holding in a rapidly developing area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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Risks
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