Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Harrisonburg, VA 22802

    • Industrial land
    • 6.35 lot acres
    OFF-MARKET
    Last Sale
    Oct 14, 2022
    $742,762
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2605932
    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.

    Current Use by Public Records

    • Industrial land

    Property Details

    Lot size
    6.35 lot acres
    Zone code
    GEN INDUSTRIAL DIST
    Property type
    Industrial land
    APN
    94-(A)- L88B
    APU
    94AL88B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.8585
    Latitude
    38.4764
    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
    2024
    $1,382
    $203,200
    $0.00
    $203,200
    -
    $203,200
    $0.00
    $203,200

    Comparable in this City

    • Value Estimation by Request
      5.16 Acres

      1630 Red Oak St

      INDUSTRIAL - VACANT LAND • 5.16 Acres
      1630 Red Oak St, Harrisonburg, VA 22802-8333
      View Details
    • Value Estimation by Request
      0.16 Acres

      961 Liberty St

      INDUSTRIAL - VACANT LAND • 0.16 Acres
      961 Liberty St, Harrisonburg, VA 22802-4503
      View Details
    • Value Estimation by Request
      0.16 Acres

      891 Liberty St

      INDUSTRIAL - VACANT LAND • 0.16 Acres
      891 Liberty St, Harrisonburg, VA 22802-4501
      View Details
    • Value Estimation by Request
      0.29 Acres

      1530 Country Clb Rd

      INDUSTRIAL - VACANT LAND • 0.29 Acres
      1530 Country Clb Rd, Harrisonburg, VA 22802-5071
      View Details
    • Value Estimation by Request
      78.93 Acres

      Harrisonburg, VA 22802

      INDUSTRIAL - VACANT LAND • 78.93 Acres
      Harrisonburg, VA 22802
      View Details
    • Value Estimation by Request
      0.85 Acres

      861 Chicago Ave

      INDUSTRIAL - VACANT LAND • 0.85 Acres
      861 Chicago Ave, Harrisonburg, VA 22802-5606
      View Details

    Similar Nearby for Sale

    • $275,000
      0.58 Acres

      Industrial Land with Approved Plans

      Industrial land with approved plans for a 5,000 SF warehouse.
      966 Sawtooth Oak Cir, Harrisonburg, VA 22802
      View Details
    • $599,900
      6.17 Acres

      Industrial Land in Developing Corridor

      6.17 acres of industrial land in Harrisonburg, Virginia.
      CLINTON PIKE Tbd Mt, Harrisonburg, VA 22802
      View Details
    • New
      $277,400
      2.77 Acres

      Rockingham Industrial Land For Sale

      2.774 acre industrial lot ready for your building project.
      88 Friendship Dr, Harrisonburg, VA 22802
      View Details
    • $195,000
      1.16 Acres

      Harrisonburg Commercial Land - $195K

      1.16-acre lot, M1 zoning, prime location.
      1420 Technology Dr, Harrisonburg, VA 22802
      View Details
    • $1,225,000
      17.70 Acres

      I-81 Frontage: 17 Acres in VA

      Prime Commercial Land, I-81 Access
      3772 Valley Pike, Harrisonburg, VA 22802
      View Details
    • $895,000
      1.46 Acres

      Harrisonburg Commercial Land Opportunity

      1.46 Acres, High-Visibility Location
      1391 Main St, Harrisonburg, VA 22802
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr

      Commercial Land in Harrisonburg, VA

      M-1 zoned land suitable for automotive businesses in Harrisonburg.
      20 W Washington St, Harrisonburg, VA 22802
      View Details
    • $15 SF/Yr
      6,600 SF

      Harpine Highway Flex Space

      Unique warehouse/retail space available.
      3315 Harpine Hwy, Harrisonburg, VA 22802
      View Details
    • $5 SF/Yr
      10,000 SF

      1047 Mt Clinton Pike

      Distribution properties • 10,000 SF
      1047 Mount Clinton Pike, Harrisonburg, VA 22802
      View Details
    • $1.00 SF/Yr

      Harrisonburg Warehouse Space For Lease

      Flexible 3,100 SF warehouse space with easy I-81 access.
      1680 Country Club Rd, Harrisonburg, VA 22802
      View Details
    • $12 SF/Yr
      12,920 SF

      Versatile Commercial Space in Harrisonburg

      12,920 SF commercial space suitable for retail, warehouse, or flex.
      60 E Rock St, Harrisonburg, VA 22802
      View Details
    • $12 SF/Yr
      6,400 SF

      Harrisonburg Office Space Available

      6,400 SF Office Building, VA
      3060 Valley Pike, Harrisonburg, VA 22802
      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.
    Harrisonburg, VA 22802
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.