Property Description

Fully leased, mixed use investment property in Downtown Harrisonburg with additional development potential at a 6.3% CAP rate based on current NOI. 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: 0.08 acre, B1 zoning: No minimum setbacks, parking requirements or lot size requirements. Up to 75 feet in height (taller via a special use permit). Potential for a by right development of 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.

Property Features