4142 Melrose Ave NW - Freestanding FOR SALE


Roanoke, VA 24017- South Washington Heights
$6,200,000 USD
404-207-1171
4142 Melrose Ave NW, Roanoke, VA for Sale
$6,200,000 USD
Freestanding - FOR SALE
1/8
null | 8.61% Cap Rate

4142 Melrose Ave NW
Roanoke, VA 24017
South Washington Heights


HIGHLIGHTS

  • This corner lot, strategically positioned at the bustling intersection of Melrose Ave and Peters Creek Road
  • Surrounded by major national tenants like Harbor Freight, Carpet Factory, Aaron's, and Wells Fargo
  • Just a quick 10-minute drive from the Roanoke–Blacksburg Regional Airport, this location is perfect for catching both local and traveling clientele.
  • Features 162,903 square feet of space built in 1957 on an 18.97-acre lot, with 89% occupancy, three vacant units totaling 16,594 square feet
  • Population of 231,549, making an average household income of $81,736 within a 10-mile radius.

OVERVIEW

This is an excellent opportunity to acquire a shopping center with 11% vacancy and $809,827 in gross annual income. The shopping center is strategically situated in a prime location on Melrose Ave and Peters Creek Rd. With 40,000 VPD and a population of 237,549, it guarantees a constant stream of potential customers. Surrounded by other businesses, it provides plenty of foot traffic and ample exposure. The large signage provides excellent visibility from every corner. Complemented by easy access to the location, this is an opportunity that should not be missed.

FOR SALE DETAILS

PRICE

$6,200,000 USD

PRICE/SF

$38 USD /SF

CAP RATE

8.61%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Roanoke Salem Business Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

18.97 AC

LAND SF

826,333 SF

ZONING

IPUD/CG

APN/PARCEL ID

276-1701

ASK ABOUT THIS PROPERTY

Lasha KortavaSands Investment Group Atlanta, LLCMore Info
404-207-1171

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Lasha KortavaSands Investment Group Atlanta, LLCMore Info
404-207-1171

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