124 Newman Ave, Harrisonburg, VA 22801
sale
$1,950,000
|
Other
Courtesy Of Cottonwood Commercial LLC
Secure a premium footprint in downtown Harrisonburg at a compelling price-per-square-foot that sits well below current market averages. This professional office center is anchored by three established professional tenants, providing immediate stability. With over $100,000 in recent capital improvements and over and above service plans including a partial new roof and two new HVAC units the asset is in excellent, low-maintenance condition. The real value, however, lies in the significant rental upside; with all current leases at under $12.50/SF gross, this offers a prime opportunity to mark-to-market upon renewal and recapture expenses. Properties with parking in downtown do not come up often.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 3
- Floors: 3
- Legal Description: COMMERCIAL DISTRICT 1 NS NEWMAN AVE
- MLSID: 676102
- Parking Spaces: 8
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