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1870 E Market St 3,500 SF 27% Leased Retail Building Harrisonburg, VA 22801 $1,650,000 ($471.43/SF) 7.25% Cap Rate
Investment Highlights
- Encompassing one retail building leased to Jiffy Lube
- Approximately 2,6150 SF building on 0.94 acres
- Located near Interstate 81
- 3.5 years remaining on the current lease
- Surrounded by national retailers, restaurants, and regional shopping destinations
- Minutes from James Madison University, a major economic driver for the area
Executive Summary
Situated in a high-traffic area near Interstate 81, the property benefits from strong visibility and accessibility. It is surrounded by national retailers, popular restaurants, and regional shopping destinations, ensuring consistent customer activity. Additionally, the location is just minutes from James Madison University, a key economic driver in Harrisonburg, enhancing long-term market stability.
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This site sits along Harrisonburg’s East Market Street, the primary retail corridor of the city and home to the largest concentration of the market’s national retail tenants. Commuter traffic funneled between Interstate 81 to the north and Rockingham County to the south supply this frontage with approximately 29,000 vehicles per day. The site is only minutes away from the area’s main office concentration and James Madison University, the city’s largest educational institution and strongest economic driver, ensuring a reliable customer base is present year-round. With the shrinking availability of developable frontage along the East Market St corridor, this site offers a rare opportunity to develop without the burden of usage restrictions as well as flexible delivery between a 2,400 square foot drive-thru option or a 3,500 square foot multi-tenant option that includes QSR space with an additional retail bay. • THE MARKET’S RETAIL SPINE - East Market Street is the principal commercial spine of the Harrisonburg market, where the area’s national retail concentrates. Approximately 29,00 vehicles pass this site daily. • FRONTAGE THAT IS RARELY AVAILABLE - Developable frontage on East Market Street seldom becomes available, and what does is often encumbered by use restrictions. • ANCHORED BY DAILY-NEEDS RETAIL - Kroger, Martin’s, and Aldi sit in close proximity, alongside Target, Planet Fitness, and a cluster of high-volume restaurants. • FLEXIBLE DELIVERY OPTIONS - Deliver as a 2,400 SF freestanding Drive-Thru, or as a multi-tenant building of up to 3,500 SF pairing QSR space with a retail bay.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,552 SF | Retail | - | Now |
1st Floor
| Size |
| 2,552 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 2,552 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
This site sits along Harrisonburg’s East Market Street, the primary retail corridor of the city and home to the largest concentration of the market’s national retail tenants. Commuter traffic funneled between Interstate 81 to the north and Rockingham County to the south supply this frontage with approximately 29,000 vehicles per day. The site is only minutes away from the area’s main office concentration and James Madison University, the city’s largest educational institution and strongest economic driver, ensuring a reliable customer base is present year-round. With the shrinking availability of developable frontage along the East Market St corridor, this site offers a rare opportunity to develop without the burden of usage restrictions as well as flexible delivery between a 2,400 square foot drive-thru option or a 3,500 square foot multi-tenant option that includes QSR space with an additional retail bay. • THE MARKET’S RETAIL SPINE - East Market Street is the principal commercial spine of the Harrisonburg market, where the area’s national retail concentrates. Approximately 29,00 vehicles pass this site daily. • FRONTAGE THAT IS RARELY AVAILABLE - Developable frontage on East Market Street seldom becomes available, and what does is often encumbered by use restrictions. • ANCHORED BY DAILY-NEEDS RETAIL - Kroger, Martin’s, and Aldi sit in close proximity, alongside Target, Planet Fitness, and a cluster of high-volume restaurants. • FLEXIBLE DELIVERY OPTIONS - Deliver as a 2,400 SF freestanding Drive-Thru, or as a multi-tenant building of up to 3,500 SF pairing QSR space with a retail bay.
Nearby Major Retailers
Property Taxes
| Parcel Number | 073-C-6 | Improvements Assessment | $402,900 |
| Land Assessment | $861,700 | Total Assessment | $1,264,600 |
Property Taxes
