2243 Franklin Rd SW - Retail FOR SALE


Roanoke, VA 24014- Colonial Avenue Area
$3,704,000 USD
310-808-3596
2243 Franklin Rd SW, Roanoke, VA for Sale
$3,704,000 USD
Retail - FOR SALE
1/4
null | 6.5% Cap Rate

2243 Franklin Rd SW
Roanoke, VA 24014
Colonial Avenue Area


HIGHLIGHTS

  • Strong Surrounding Shadow Anchors such as Carilion Clini Orthopedic Surgery Center, Mellow Mushroom and Earth Fare.
  • Ideal Target Market - Roanoke is the largest city in western Virginia.
  • The asset sits with frontage on Franklin Road SW (18,000 VPD) and is accessible from Wonju Street (16,100 VPD), the exit off Hwy 220 (66,400 VPD).

OVERVIEW

Berkeley Capital Advisors is pleased to exclusively present the opportunity to acquire Ivy Market Shops (the “Property”), a 6,949 SF retail center located in Roanoke, VA. This property features notable tenants such as First Watch and Taziki’s, and is strategically positioned adjacent to a large medical facility that serves over 500 patients daily. Ivy Market enjoys a prime location on Franklin Rd SW, which sees a traffic volume of 35,000 vehicles per day and is just 2.1 miles from Downtown Roanoke. The center attracts a significant customer base, especially those leaving downtown in search of groceries or dining options. Within a 6-minute drive, there are six medical institutions, including Carilion Roanoke Memorial Hospital and Carilion Clinic, contributing to a robust daytime population. The Earth Fare (shadow) at Ivy Market is a top performer, ranking 3rd nationally within its chain according to Placer.ai. Roanoke continues to experience growth and has been recognized as the No. 1 most affordable city on the East Coast, positioning Ivy Market for a successful future.

FOR SALE DETAILS

PRICE

$3,704,000 USD

PRICE/SF

$533 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ivy Market Shops

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.99 AC

LAND SF

130,462 SF

ZONING

INPUD

APN/PARCEL ID

115-0106

ASK ABOUT THIS PROPERTY

Devon DykstraBerkeley Capital AdvisorsMore Info
310-808-3596

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Devon DykstraBerkeley Capital AdvisorsMore Info
310-808-3596

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