558 S. Main St., Harrisonburg, VA | 558 S Main St
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558 S. Main St., Harrisonburg, VA 558 S Main St
17,400 SF Office Building Harrisonburg, VA 22801 $4,675,000 ($269/SF) 6.69% Cap Rate
Investment Highlights
- Single Tenant Class A Office Building
- 1031 Exchange Option
- Long-term Lease with PB Mares
Executive Summary
Investment Property - Single Tenant Class A Office Building For Sale on S. Main St at the Gateway to Downtown Harrisonburg and one block from James Madison University. 17,400 SF on 1.30 Acres. Property is 100% Leased by well-established accounting firm PB Mares (www.PBMares.com) through Dec 31, 2027 (tenant has two additional 5-year renewal options through 2037). 44 Parking Spaces on site. Renovated by Tenant in 2021. Listed at a 6.69% CAP on T12 ACTUAL NOI (Nov '23 - Oct '24). Contact Listing Agent for Additional Info. Owner / Agent.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$400,033
|
$22.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$400,033
|
$22.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$87,435
|
$5.03
|
| Net Operating Income |
$312,598
|
$17.97
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $400,033 |
| Annual Per SF | $22.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $400,033 |
| Annual Per SF | $22.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $87,435 |
| Annual Per SF | $5.03 |
| Net Operating Income | |
|---|---|
| Annual | $312,598 |
| Annual Per SF | $17.97 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
17,400 SF
Building Class
B
Year Built
1982
Price
$4,675,000
Price Per SF
$269
Cap Rate
6.69%
NOI
$312,598
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
5,800 SF
Building FAR
0.31
Lot Size
1.30 AC
Zoning
R-3 - See Other Documents - Zoning Verification Letter.
Parking
44 Spaces (2.53 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Central Heating
- Air Conditioning
Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 025 M 2 3 31 | Improvements Assessment | $2,450,800 |
| Land Assessment | $509,000 | Total Assessment | $2,959,800 |
PROPERTY TAXES
Parcel Number
025 M 2 3 31
Land Assessment
$509,000
Improvements Assessment
$2,450,800
Total Assessment
$2,959,800
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558 S. Main St., Harrisonburg, VA | 558 S Main St
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