Apartment Acquisitions · Harrisonburg
Sell Your Commercial Property In Harrisonburg, VA
Own a commercial apartment building of five or more units in Harrisonburg? We purchase multifamily properties around Downtown Harrisonburg, Port Republic Road, and the rest of Virginia, and we review every deal against a clear buy box.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Harrisonburg Submarkets: Downtown Harrisonburg · Port Republic Road · Bridgewater · Dayton
Local Demand
Our View On Harrisonburg
Harrisonburg, Virginia is a college-and-poultry market where renters hold 60.5% of homes, well above Virginia's 32.7%. Median gross rent is $1,184 a month, and 27.7% of housing sits in buildings of 5 or more units (ACS 2020-2024).
This profile gathers the rents, tax rate, closing taxes and landlord rules that matter to an owner thinking about how to sell commercial property in Harrisonburg, VA. Harrisonburg is an independent city that levies $1.01 per $100 of assessed value for 2026-27, per the city tax office.
James Madison University
JMU reports 22,000+ students, and the Shenandoah Valley Partnership lists it with 2,500 to 5,000 workers.Sentara RMH Medical Center
The Shenandoah Valley Partnership lists Sentara RMH with 2,500 to 5,000 workers, filed under Rockingham County.Poultry and food processing
Pilgrim's Pride and Cargill each employ 1,500 to 2,500 in surrounding Rockingham County, per the Partnership list.Our Buy Box
What We Buy In Harrisonburg
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Harrisonburg Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Harrisonburg
Renters occupy 60.5% of Harrisonburg homes, or 10,505 of 17,360 households, in ACS 2020-2024 tenure data. Virginia's statewide renter share is 32.7%.
Buildings with 5 or more units make up 27.7% of Harrisonburg housing, against 18.6% statewide, per ACS table B25024. About 38.2% of homes were built before 1980, and the median year built is 1987.
James Madison University reports 22,000+ students on its university facts page. Owners selling commercial property in Harrisonburg are pitching to buyers who price that student renter base.
Rents and affordability in Harrisonburg
Harrisonburg median gross rent is $1,184 a month in ACS 2020-2024, versus $1,579 for Virginia. That rent equals 22.8% of the $62,254 median household income.
Renters paying 30% or more of income total 44.6%, and 29.6% pay 50% or more. Owners who plan to sell commercial real estate in Harrisonburg, VA should expect buyers to weigh that strain.
| Unit size | HUD FY2027 FMR (Harrisonburg, VA MSA) |
|---|---|
| Efficiency | $1,038 |
| One-bedroom | $1,044 |
| Two-bedroom | $1,264 |
| Three-bedroom | $1,728 |
| Four-bedroom | $2,034 |
Source: HUD fair market rents, effective October 1, 2026.
Property taxes in Harrisonburg
Harrisonburg is an independent city, so it acts as its own county and levies $1.01 per $100 of assessed value for July 1, 2026 to June 30, 2027, per its real estate tax page. Virginia requires assessments at 100 percent fair market value under Va. Code 58.1-3201.
A $2,000,000 building assessed at market value owes $2,000,000 / 100 x $1.01 = $20,200 a year. Anyone planning to sell commercial property in Harrisonburg, VA can use that figure to size carrying cost.
Sale costs add up: the grantor tax under Va. Code 58.1-802 is $0.50 per $500, or $2,000 on $2,000,000. The state recordation tax under 58.1-801 is $0.25 per $100, or $5,000.
Landlord rules in Virginia
A Virginia landlord may not take a security deposit above two months' rent, under Va. Code 55.1-1226. The itemized deposit accounting is due within 45 days after move-out.
For unpaid rent, Va. Code 55.1-1245 gives tenants 14 days after written notice to pay before the landlord may terminate. For other lease breaches, the termination date must fall at least 30 days after notice receipt.
What this means for a Harrisonburg owner
A Harrisonburg owner holds a building where 60.5% of households rent and rents sit well below the state median. Run the numbers in the cap rate calculator before listing.
Skyline Capital Investments buys 5+ unit buildings, and our apartment building sale page explains the process. Owners ready to sell multifamily property in Harrisonburg can start there.
Owners who want to sell commercial property in Harrisonburg, VA should net out the $2,000 grantor tax and loan payoff first.
Good To Know
Harrisonburg Seller Checklist
More about selling in Virginia →Investing in Harrisonburg? See apartment syndications in Harrisonburg →
- Harrisonburg is an independent city, and it bills $1.01 per $100 real estate tax for 2026-27.
- Virginia caps security deposits at two months' rent, with itemized accounting due within 45 days.
- Owners who sell commercial real estate in Harrisonburg, VA pay a $2,000 grantor tax on $2,000,000.
Seller Guides
Selling A Building In Harrisonburg
Learn More
Taxes & Rules For Harrisonburg Property
The Virginia rules that shape any deal in Harrisonburg: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Harrisonburg Seller FAQ
How do I sell commercial property in Harrisonburg, VA?
Start with an assessment-based tax picture. Harrisonburg charges $1.01 per $100 for 2026-27, so a $2,000,000 building at market assessment owes $20,200 a year. Add the $2,000 grantor tax at closing, then compare buyers' offers against that net.
What does it cost to sell commercial real estate in Harrisonburg, VA?
Virginia's grantor tax is $0.50 per $500 of value, or $2,000 on $2,000,000, under Va. Code 58.1-802. The state recordation tax is $0.25 per $100, or $5,000 on the same amount, under Va. Code 58.1-801.
What is the property tax rate in Harrisonburg?
Harrisonburg levies $1.01 per $100 of assessed value for July 1, 2026 to June 30, 2027. Virginia assesses at 100 percent fair market value, so a $2,000,000 building owes $20,200. Bills are due December 5 and June 5.
What share of Harrisonburg households rent?
Renters occupy 60.5% of Harrisonburg homes, or 10,505 of 17,360 households, in ACS 2020-2024 data. Virginia overall is 32.7%. That gap makes a sale attractive to owners ready to sell your apartment building in Harrisonburg.
What are Harrisonburg HUD fair market rents for 2027?
Under HUD's FY2027 fair market rents for the Harrisonburg, VA MSA, a two-bedroom is $1,264 and a three-bedroom is $1,728. A one-bedroom is $1,044 and an efficiency is $1,038. The rents took effect October 1, 2026.
What if my Harrisonburg building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
Can I sell my Harrisonburg apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Can I sell rental property in Harrisonburg with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Harrisonburg?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Tell Us About Your Property In Harrisonburg
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
