Harrisonburg, VA
Commercial Real Estate Market Trends & Data

$270 Avg asking sale price
$655 Avg asking lease rate
14,349 SF Avg unit lease size
12,475 SF Avg building size for sale
7.10% Average cap rate

Harrisonburg's Demographic Profile

Harrisonburg has 16,945 households and a median income of $52,274, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 50,622
# Households 16,945
Median age 27
Median household income $52,274
Avg household size 3.0
Renter-occupied housing units 11,075
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Harrisonburg, VA

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
Harrisonburg $312 10,844 SF
Dayton $75 8,244 SF
Shenandoah $95 4,600 SF
Elkton $76 11,916 SF
Timberville $408 4,000 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Harrisonburg $309 6,660 SF 8.55%
Sperryville $188 4,200 SF 5.01%
Winchester $301 17,280 SF 6.23%

Commercial Properties For Sale in Harrisonburg

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

STONE PORT | RETAIL PADS AVAILABLE

Harrisonburg, VA 22801

  • 0.84 - 2.55 AC Lots
  • 5 Commercial Lots
  • Price Upon Request
For Sale

HARD-CORNER OPPORTUNITY ON SOUTH MAIN STREET

Harrisonburg, VA 22801

  • 8.93 AC Lot
  • 1 Commercial Lot
  • $3,795,000
For Sale

641 Acorn Dr

Harrisonburg, VA 22802

  • 18,356 SF Industrial Building
  • $2,495,000
For Sale

958 College Ave

Harrisonburg, VA 22802

  • 5,184 SF Multifamily
  • 8.55% Cap Rate
  • $970,000
For Sale

TAKE 5 OIL CHANGE, HARRISONBURG

Harrisonburg, VA 22801

  • 2,940 SF Retail Building
  • $2,016,667
For Sale

Moes Southwest Grill

Harrisonburg, VA 22801

  • 3,053 SF Retail Building
  • 6.75% Cap Rate
  • $1,306,600

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

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Internal Rate of Return (IRR) Calculator
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Master Lease Strategies
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A practical guide to finding qualified industrial tenants, from building your tenant profile to tenant screening and closing the lease.
Bonus Depreciation
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A practical guide to using bonus depreciation to reduce tax liability, improve cash flow, and plan property improvements with timing strategies in mind.
Accelerated Depreciation in Commercial Real Estate
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Understand how accelerated depreciation works, which method fits your deal, and how to avoid the tax pitfalls that catch most investors off guard.

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Harrisonburg pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Harrisonburg $270 12,475 SF
Rockingham $813 4,796 SF
Mount Crawford $430 12,698 SF
Dayton $75 8,244 SF

Regional Demographic Comparison

This comparison places Harrisonburg alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Harrisonburg or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Harrisonburg 50,622 16,945 27 $52,274 3 11,075 -2%
Mount Crawford 395 141 45 $104,412 3 37 2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Harrisonburg, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Harrisonburg

View All Commercial Real Estate For Sale in Harrisonburg
Is Harrisonburg a good market for a first-time commercial real estate investor?

Harrisonburg offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Harrisonburg?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Harrisonburg. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Harrisonburg?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Harrisonburg. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Harrisonburg compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Harrisonburg. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Harrisonburg acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Harrisonburg, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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