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Listed by CODY ALLEN MCCRAW IVY REALTY LLC
$ 535,000
Est. payment | /mo
$ 535,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 929530
HOA Y/N No
Year Built 1975
Annual Tax Amount $4,329
Acres 0.48
Lot Dimensions 98x209
Property Sub-Type Commercial
Source Roanoke Valley Association of REALTORS®
Property Description
Multi-tenant retail office/retail building with a historically high occupancy rate. The building is currently 68% leased to an insurance office, a dentist office, a hair salon, and a retail store. The seller currently occupies one of the tenant spaces (32%) as a law office. The existing leases are below market averages so there is an opportunity for an investor to create additional value through rental increases. NOI based on existing rents for leased spaces and market rent for owner-occupied space is estimated at $55,964, indicating a 10.5% CAP; however, NOI based on market rents at stabilization is $75,467, indicating a 14.1% CAP. The site is improved with a paved parking lot containing 23 parking spaces and a pylon sign.
Location
State VA
County Roanoke County
Area 0.48
Zoning C2
Direction N on Williamson Rd, Property on R
Interior
Heating Gas Heat, Heat Pump
Cooling Heat Pump
Flooring Carpet, Vinyl
Fireplace No
Exterior
Parking Features On Site
Roof Type Shingle
Topography Level
Garage No
Building
Story One
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 027.18-04-02.00-0000
Nearby Locations
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