90 N Main St - Office FOR SALE


Harrisonburg, VA 22802- Downtown Harrisonburg
$3,200,000 USD
540-820-7008
90 N Main St, Harrisonburg, VA for Sale
$3,200,000 USD
Office - FOR SALE
1/59
null | 6.3% Cap Rate

NEW


90 N Main St
Harrisonburg, VA 22802
Downtown Harrisonburg


HIGHLIGHTS

  • 6.3% CAP Rate
  • All leases with annual 3% increases
  • Weighted Average Lease Term: 6.2 years
  • Federal Qualified Opportunity Zone
  • Harrisonburg Central Business District
  • Future development opportunity via an additional pad site

OVERVIEW

Fully leased, mixed use investment property in Downtown Harrisonburg. Professional office, Boutique retail and Health/Wellness currently serve as a great tenant mix. The addition of a high quality common area lobby helps provide a 1st class feel. The new, long term, NNN leases, provide investment security. In addition take advantage of the Federal Qualified Opportunity Zone and Harrisonburg’s Economic Revitalization Tax Credit by developing the vacant, attached lot. Vacant Lot: .08 acres on a separate tax parcel. Able to utilize the entire 3,634 square foot baseplate to develop an apartment building and/or mixed use building. By right zoning potential for a 7-story, 28-unit apartment building subject to site plan approval. Water meter in place, just needs a size upgrade. Electric, Gas and Sewer on the premises. B1 Zoning: By right uses include apartments, retail, office, and restaurants. No minimum setbacks, lot size or parking requirements. Can build up to 75’ in height (taller via a special use permit). Able to utilize the entire 3,634 square foot baseplate to develop an apartment building and/or mixed use building.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$179 USD /SF

CAP RATE

6.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

FULLY LEASED MIXED USE INVESTMENT PROPERTY

PROPERTY TYPE

Office

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

B-1

APN/PARCEL ID

034-T-12

ASK ABOUT THIS PROPERTY

Keith MayCottonwood CommercialMore Info
540-820-7008

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Keith MayCottonwood CommercialMore Info
540-820-7008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.