135 W Market St - Office/Residential FOR SALE


Harrisonburg, VA 22801
$3,750,000 USD
202-536-3738
135 W Market St, Harrisonburg, VA for Sale
$3,750,000 USD
Office/Residential - FOR SALE
1/10
null | Request Cap Rate

135 W Market St
Harrisonburg, VA 22801


HIGHLIGHTS

  • • Covered Land Play & Historic Adaptive Re-Use Opportunity
  • • Leased to Rosetta Stone Through May 2026 plus a 1-Year Option
  • • Eligible for State and Federal Historic Rehabilitation Tax Credits (HRTC)
  • • Located in a Qualified Opportunity Zone Offering Significant Tax Incentives
  • • By-Right Multifamily Conversion | Conveys with Schematic Plans for 80 Units
  • • Walking Distance to James Madison University | Almost 23,000 Students

OVERVIEW

Feldman Ruel is pleased to offer for sale the Rosetta Stone building, located at 135 W Market in Harrisonburg, Virginia. The subject property is ideally positioned for conversion from office to multifamily use, with the potential to leverage federal and state tax credits. Situated within a qualified opportunity zone, the property is also near James Madison University's main campus, one of Virginia's largest universities. The growing demand for student housing will make 135 W Market Street an excellent choice for students once it is converted to multifamily use. Currently, the subject property is fully leased to Rosetta Stone, an office tenant with a lease extending through May 31, 2026. This offers potential buyers a reliable cash flow during the pre-development phase.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$78 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

B

YEAR BUILT

1789

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

B1

APN/PARCEL ID

035-X-9-10

ASK ABOUT THIS PROPERTY

Christopher ChadwickFeldman RuelMore Info
202-536-3738

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Christopher ChadwickFeldman RuelMore Info
202-536-3738

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