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1870 E Market St 2,552 SF Retail Building Harrisonburg, VA 22801 $1,650,000 ($646.55/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
Exceptional investment opportunity featuring a single-tenant retail property leased to Jiffy Lube. This well-located 2,610 SF building sits on a 0.94-acre lot and offers 3.5 years remaining on the current lease, providing stable cash flow for investors.
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.
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
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,552 SF
Year Built
1990
Price
$1,650,000
Price Per SF
$646.55
Cap Rate
7.25%
NOI
$119,625
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.94 AC
Zoning
B2
Frontage
123’ on Market St
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
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
Parcel Number
073-C-6
Land Assessment
$861,700
Improvements Assessment
$402,900
Total Assessment
$1,264,600
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1870 E Market St
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