For Sale
$3,750,000

135 Market StHarrisonburg, VA 22801

Historic building, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 47,793 square foot, seven-story office building at 135 W Market Street in Harrisonburg, VA, presents a unique redevelopment opportunity. Currently 100% occupied by Rosetta Stone under lease until May 31, 2026, with a one-year option, this property offers immediate cash flow. Situated on a 26,260 square foot lot (APN: 035-X-9-10) and zoned B-1, it's ideally suited for conversion to multifamily use, with schematic plans for approximately 80 units already available. Its location within a Qualified Opportunity Zone provides significant tax incentives, and eligibility for State and Federal Historic Rehabilitation Tax Credits further enhances its investment appeal. The proximity to James Madison University's main campus (nearly 23,000 students) ensures strong rental demand post-conversion. This is a covered land play with a historic adaptive reuse opportunity, offering substantial returns for the discerning investor. The asking price is $3,750,000.

Highlights

  • Rare opportunity: Historic adaptive reuse & covered land play.
  • Leased to Rosetta Stone through May 2026, with a one-year option.
  • Eligible for State & Federal Historic Rehabilitation Tax Credits.
  • Located in a Qualified Opportunity Zone.
  • By-right multifamily conversion; schematic plans for 80 units included.
  • Excellent location: walking distance to James Madison University (nearly 23,000 students).

Property Details for 135 Market St

Property type
Office properties
Square Feet
47,793 SF
Buildings
1
Stories
7

Location Insight

City
Harrisonburg
County
Harrisonburg City
State
Virginia
Latitude
38.449786263487
Longitude
-78.871348842818
135 Market St, Harrisonburg, Virginia

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135 Market St
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