Valuable Commercial Real Estate For Sale At Online Auction
Closing December 2, 2026 @ 1:00 PM
In partnership with Lee & Associates Real Estate we are offering at online auction three commercial properties on Peoples Drive in Harrisonburg VA. These properties are zoned B2 General Business and are being offered in a multi-par format to the highest bidder or bidders regardless of price. Tract #1 is a 3,750 sq ft commercial condominium in the Hammond Professional Park at 3211 Peoples Drive Suite 130, Tract #2 is a 950 sq ft commercial condominium in the Hammond Professional Park at 3211 Peoples Drive Suite 110, and Tract #3 is a 1.0 acre undeveloped commercial lot at 3191 Peoples Drive. Bidders may bid on individual tracts or combinations of tracts. These commercial parcels are located in a high growth and high traffic area of Harrisonburg and would be suitable for a wide variety of business operations.
This Is An Online Only Auction - All Bids Must Be Submitted On The Website. Click The "Bid Online Now" Button To See Property Details and To Bid.
Position your next investment or business location in Harrisonburg’s fast growing south end. This is one of the region’s most active commercial corridors with lots of new residential and commercial development happening near this location. This offering is three separate tracts or parcels zoned B-2 General Business with two of them being business condominiums and one a vacant lot. These properties are surrounded by established national and local retailers, professional offices, banks, and governmental agencies. There is great access with less than 1 mile to I-81 Exit 243. This is a ready-to-execute opportunity for investors, developers, or owner-users looking to capitalize on one of Harrisonburg’s most proven commercial locations.
Whether you want individual parts or the whole thing, our multi-par auction feature lets you bid on and buy the combination that helps you acquire the property you desire. This is not a foreclosure auction. Our sellers have elected to use transparent and competitive bidding to establish the sales price of these properties.
Tract #1 – This tract is located at 3211 Peoples Drive Suite 130 in the City of Harrisonburg and consists of a 3,750 Sq Ft Commercial Condo zoned B-2 General Business. It features two entrances in the front with flexible space inside that can be configured to your specifications. It is currently configured with offices in the front and along one side and a warehouse/open area on the other side with two restrooms and a kitchen area at the rear of the building. It could use updated floor coverings and perhaps some paint, but is generally in good condition. The building dimensions are 50x75 ft. The property is currently vacant and ready for your business to move in or buy to invest and lease. Condo Owners Association fees are currently $1.85 per sq ft per year. ($578.13 per month) and covers all exterior maintenance, water and sewer, landscaping, parking lot lighting, management fees, and long term maintenance escrow. This tract is tax map ID: 104-I-10. The 2026 tax assessed value for this tract is $606,000.
Tract #2 – This tract is located at 3211 Peoples Drive Suite 110 in the City of Harrisonburg and consists of a 950 Sq Ft Commercial Condo zoned B-2 General Business. It is currently leased by a long term tenant with the current lease expiring December 31, 2031. This is a triple net lease with annual net income of $14,953 increasing 3% annually through the remainder of the lease term. The building dimensions are 25x38 ft. Condo Owners Association fees are paid by the tenant and are $1.85 per sq ft per year. ($146.46 per month) and covers all exterior maintenance, water and sewer, landscaping, parking lot lighting, management fees, and long term maintenance escrow. This tract is tax map ID: 104-I-8. The 2026 tax assessed value for this tract is $186,300.
Tract #3 – This tract is located at 3191 Peoples Drive in the City of Harrisonburg and consists of 1.0 ± acres zoned B-2 General Business. This is an vacant commercial building lot. The lot is is ready to build with all utility connections nearby and available. It is subject to certain covenants and restrictions relating to the type of construction (see documents tab for details) but is otherwise unrestricted. This tract slopes gradually upward from the street and has sidewalk and entrance already present. This tract is tax map ID: 104-I-3. The 2026 tax assessed value for this tract is $261,400.
Multi-Par Bidding Format: This auction uses a multi-parcel (multi-par) format, which means tracts are offered individually or in combination.
How it works: Once each tract has at least one bid, a combination can be opened. A combination bid must be at least one increment higher than the total of the current bids on the individual tracts.
Combinations and Individual Tract Bids: If a combination bid is placed, you could be outbid even if no one else is bidding directly on your tract. However, if that combination is broken up by new bids on another individual tract, your original bid may become the winner again — or you can increase your bid to regain the lead.
Bidding rules: There are no “max bids” in this format. Instead, you may bid at the next increment or enter a specific bid amount above the next increment, which will be placed immediately at that amount.
Extended Close: If any bids are placed on any tract or combination in the last 2 minutes of the auction then bidding for all tracts and combinations will remain open for an additional 2 minutes.
In short: you can bid on single tracts or groups, combinations can shift the high bids, and you must place exact bids - no max (auto) bidding. If you have any questions about bidding please call, text, or email us.
We Guarantee A Free And Clear Title To These Properties
This property is being sold to the highest bidder regardless of price with a starting bid of $25,000 for each tract
Property Tour Dates: We have scheduled property tours for Wednesday November 11 at 1 PM and Monday November 30 at 1 PM. If you would like an agent to show you the property at some other time or answer any questions you may have please Call Linford Berry at 540-476-3309 or Jeff Robb @ 540-478-7616.
Property Highlights
- Three commercial properties in the City of Harrisonburg offered in individual tracts or in combinations
- Zoned B-2 General Business allowing a wide range of commercial uses
- Located in Harrisonburg’s south end near the DMV, Harrisonburg High School, and surrounded by retail and professional offices
- Adjacent to a major growth corridor anchored ongoing residential/commercial expansion
- Immediate income in place for Tract #2 with triple net lease through Dec 2031
- City water and sewer available to all tracts
- Strong accessibility with close proximity to I-81 @ Exit 243
- Condo units subject to Condo Owners Association fees that cover all exterior maintenance, landscaping, water and sewer, etc.
Additional Information Can Be Found By Clicking The “Bid Online Now” Button
Terms and Conditions:
- WE GUARANTEE A FREE AND CLEAR DEED TO THE PROPERTY
- This property is being sold in AS-IS condition with no financing/appraisal/inspection contingencies. Bidders are strongly encouraged to inspect the property themselves and/or enlist the assistance of professional inspectors or contractors in evaluating the condition and value of the property. All inspections must be performed prior to the auction.
- Buyers Premium: There will be a 10% Buyers Premium added to the high bid to determine total contract purchase price. (For example a 100,000 bid would have a buyers premium of $10,000 added for a total purchase price of $110,000).
- Payment Terms: Payment will be in the form of Cash or Cash Equivalent with a $10,000 non-refundable deposit on each tract due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing on or before 45 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 45 days.
- Financing can be obtained for the property, but the sale is not contingent upon obtaining financing.
- All information provided by Mountain Valley Auction Group was obtained from sources believed to be reliable but are not guaranteed. Buyer shall rely on their own information, judgment, and inspection of the property.
- View the sample purchase agreement and complete terms under the "Docs" tab or drop down menu under the photo
Note For Real Estate Agents: Preapproved (No later than 5:00 PM on December 1) buyers agent participation will be compensated. Click Here For Form
Click Here To See Property Details And Bid
Real Estate Auction Terms of Sale:
This auction is conducted by Mountain Valley Auction Group LLC and Lee & Associates Real Estate (Auctioneer) on behalf of the owners of the property referred to as the (Seller). Auctioneer is not responsible for the acts of the Seller or statements made by the Seller before, during, or after the auction. The auction shall be governed by the terms set forth herein and any announcements made in the auction description. The act of submitting a bid shall constitute Bidder’s acceptance of each and every term and condition contained in these terms and conditions and shall form a binding contract of intent to purchase between the Bidder and the Auctioneer. All persons inspecting the property assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer and Seller from all liability. Auctioneer is not liable by reason of any defect in, or condition of, the property or the premises on which the preview/sale is held. Auctioneer is released from any claims or actual damage to the property sold and/or consequential damages that may result from the sale of defective property.
PAYMENT TERMS:
A signed contract and a nonrefundable deposit of $10,000 for each tract from the high bidder(s) is required immediately after confirmation of final bid and the balance due at closing within 45 days after the auction (unless prior arrangements have been made with the auctioneer). Deposit must be in the form of a cashiers or certified check drawn on a US bank or a wire transfer. If an online bidder is the winning bidder, then a signed contract and the nonrefundable deposit is due within 24 hours of the auction ending unless other arrangements have been made with Auctioneer prior to the close of the auction. Title to be delivered free of all liens or encumbrances as more specifically set forth in the Sale Contract. All settlement and closing costs will be the responsibility of the buyer and the property taxes will be prorated as of the day of settlement.
BUYER’S PREMIUM:
A 10% buyer’s premium will be added to the final bid to become part of the purchase price at settlement. Buyer agrees to these provisions and will pay the applicable buyer’s premium.
DISCLOSURES/NO CONDITION WARRANTIES OR CONTINGENCIES
There is no condition warranty offered, expressed, or implied, by Auctioneer or Seller for any property. All property is sold AS-IS, WHERE-IS, and with all faults and defects therein. ALL SALES ARE FINAL and are not contingent on any financing, appraisal, or inspections. All inspections of the property must be done before the close of the auction. All information provided is believed to be correct but NO warranty as such is implied, including but not limited to the warranty of merchantability or fitness for a particular purpose. Bidder is solely responsible to determine condition, value or any other determinative factors. The Auctioneer strongly encourages bidders to attend preview/property tours and retain the services of building inspectors or other professionals in order to determine the value and condition of the property.
BIDDER REGISTRATION:
By registering and bidding, Bidder acknowledges that they have read and agree to the terms and conditions of this auction. Bidder agrees to sign the contract of sale and other documents related to the transaction, pay the nonrefundable deposit and close the transaction within 45 days if their winning bid is accepted. Bidder must be 18 years of age or older and is required to register for the auction. In registration, Bidder must submit information found to be current, complete and accurate for proper identification by Auctioneer. Bidder’s registration is not transferable or assignable. Auctioneer reserves the right to deny or restrict any bidders registration with or without cause. Bidder must register to participate in the auction. If you have any questions, please call the auctioneer at 540-476-3309.
BIDDING:
Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. The property is sold in AS-IS condition; this is an AUCTION and all SALES ARE FINAL. Bids cannot be retracted and are binding contracts between Bidder and Auctioneer/Seller. Bidder is accountable to be informed about property and associated costs before bidding. A maximum bid can be placed on the property in the online bidding interface. A maximum bid is kept confidential. Except for properties noted “Absolute Auction,” Or “Sells To The Highest Bidder” all properties in auctions will be sold subject to seller confirmation or will have a pre-established minimum Reserve Price. Except where prohibited by law, Auctioneer may counter bid on behalf of Seller on any property up to the amount of the Reserve Price (and no such bid will result in a sale of the property). If the Reserve Price is not met, Seller is under no obligation to sell the property; however, Seller may accept a bid that is below the Reserve Price in its sole discretion.
MULTI-PAR BIDDING FORMAT: This auction will be conducted using the multi-parcel (“multi-par”) bidding method. Under this format, individual tracts will first be offered separately. Once bids have been placed on each individual tract, bidding on combinations of tracts will be permitted.
A combination bid must be submitted at an amount not less than one bidding increment above the aggregate total of the highest bids already placed on the individual tracts included in that combination. By submitting a combination bid, a bidder may displace high bids on one or more individual tracts, even if no other party has placed a direct competing bid on those tracts. If a subsequent bid is placed on an individual tract that breaks up an existing combination, the prior individual high bid(s) may again become the prevailing bid(s). Bidders are advised that this auction format does not permit the use of “maximum” or “auto” bids. All bids must be entered at either the next bidding increment or as a specific bid amount and, once submitted, will be executed immediately at the amount entered. If you have any questions about the multi-par bidding process please call Linford @ 540-476-3309.
BIDDER VERIFICATION & QUALIFICATION:
The identity of all bidders will be verified prior to participation. The Auctioneer may require a proof of funds letter be submitted prior to bidder participation. A credit card is required to register for online bidding. No charges will be made to your card unless you are determined to be the winning bidder and you fail to execute the Contract of Sale and pay the required earnest money deposit. At the discretion of the Auctioneer, a penalty of $1,000.00 will be charged to the credit card provided at registration if you fail to return the signed Contract of Sale and pay the required earnest money deposit within the required time period. Payment of the penalty shall not affect other remedies available to the Seller for such failure.
BROKER COMPENSATION:
Preapproved (No later than 5:00 PM the day before the auction ends) brokers participation will be compensated. Two Percent (2%) of the high bid will be paid to a qualified licensed real estate agent whose registered buyer's offer is accepted by the seller and closes on the property. To qualify for a commission, the agent must first register his/her self and client with the Auctioneer by 5:00 PM the day prior to the close of auction. Brokers only receive commission when they represent a client, not if they themselves are the client. Commissions will be paid only after closing and after the Auctioneer has been paid in full. Agents are not required to attend the closing but must attend the auction with their client and/or visit the property with their client during the marketing period. Agents must have client's permission to register him/her for the auction. Agents may not register people who are not actually their clients. If an agent has not met all of these requirements, no commission will be paid to the cooperating agent, even if the agent's client purchases the property. Under no circumstances whatsoever will any commission be paid if the sale does not close for any reason.
