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558 S. Main St., Harrisonburg, VA 558 S Main St 17,400 SF Office Building Harrisonburg, VA 22801 $6,499,512 CAD ($373.54 CAD/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 Information. Owner / Agent.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$556,154
|
$31.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$556,154
|
$31.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$121,558
|
$6.99
|
| Net Operating Income |
$434,596
|
$24.98
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $556,154 |
| Annual Per SF | $31.96 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $556,154 |
| Annual Per SF | $31.96 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $121,558 |
| Annual Per SF | $6.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $434,596 |
| Annual Per SF | $24.98 |
Property Facts
Sale Type
Investment
Property Type
Building Size
17,400 SF
Building Class
C
Year Built
1982
Price
$6,499,512 CAD
Price Per SF
$373.54 CAD
Cap Rate
6.69%
NOI
$434,596 CAD
Tenancy
Single
Building Height
2 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
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 025-M-2-3-31 | Improvements Assessment | $3,383,256 CAD (2025) |
| Land Assessment | $702,659 CAD (2025) | Total Assessment | $4,085,915 CAD (2025) |
Property Taxes
Parcel Number
025-M-2-3-31
Land Assessment
$702,659 CAD (2025)
Improvements Assessment
$3,383,256 CAD (2025)
Total Assessment
$4,085,915 CAD (2025)
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558 S. Main St., Harrisonburg, VA | 558 S Main St
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