540-797-5435
1421 3rd St SW, Roanoke, VA for Sale
Medical - FOR SALE
1/1
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1421 3rd St SW
Roanoke, VA 24016
Old Southwest


HIGHLIGHTS

  • Recently fully leased medical office building to primary care and family medicine practice in Roanoke’s premier biomedical corridor
  • Annual Gross Rent: $134,240 ($14.75/sf)
  • Landlord pays taxes and insurance. Tenant pays for utilities, maintenance, and janitorial.
  • Three (3) year lease, commenced September 1, 2025
  • Drive-thru drop off zone

OVERVIEW

Cushman & Wakefield | Thalhimer, as sole representative of the Owner, is pleased to present 1421 3rd Street SW in Roanoke, Virginia, a singletenant ±9,101-square-foot contemporary medical office building, representing a rare opportunity to acquire a fully leased, turnkey medical asset at the heart of one of the region’s most dynamic growth corridors. Originally constructed in 1994 for a physical therapy practice and renovated in 2025, the property was purpose-built for healthcare use and features a thoughtful combination of functionality and design. The building is fully leased to Physicians Associates of Virginia, P.C., a well-established medical group with deep roots in the Roanoke community, and offers a low-touch, predictable income profile for ownership.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

MX

APN/PARCEL ID

1031216

ASK ABOUT THIS PROPERTY

Price GutshallCushman & Wakefield | ThalhimerMore Info
540-797-5435

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Price GutshallCushman & Wakefield | ThalhimerMore Info
540-797-5435

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.