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Roanoke Salem Business Center 4202 Melrose Ave NW

162,903 SF 100% Leased Retail Building Roanoke, VA 24017 $9,112,950 CAD ($56 CAD/SF) 8.85% Cap Rate

Retail Buildings Virginia Roanoke 4202 Melrose Ave NW, Roanoke, VA 24017

INVESTMENT HIGHLIGHTS

  • High Visibility Corner Lot
  • Centralized Location to Salem, Roanoke and I-81
  • Positive Income Production with Great Redevelopment Potential
  • Multiple Sought-After Outparcel Buildings Included
  • Current Zoning Allows a Vast Array of Uses

EXECUTIVE SUMMARY

Centrally located in Roanoke, VA at 4142 Melrose Avenue is Roanoke-Salem Plaza. Located minutes from Roanoke-Blacksburg Regional Airport and Interstate I-81. This property is situated on a total of ±19 acres and compromised of 162,000+ total square footage, including the main building and three out-parcels with a potential for future redevelopment opportunities.
 
Call Zack May (540) 855-3643 or Bryan Musselwhite, CCIM (540) 855-3654 today for more information or to schedule a property tour.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
162,903 SF
Building Class
C
Year Built
1957
Price
$9,112,950 CAD
Price Per SF
$56 CAD
Cap Rate
8.85%
NOI
$806,071 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
18.97 AC
Zoning
IPUD/CG - Industrial Planned Unit Development Conditional
Parking
200 Spaces (1.23 Spaces per 1,000 SF Leased)
Frontage
512 ft on Melrose Ave

AMENITIES

  • Bus Line
  • Corner Lot
  • Signage

LINKS

1 of 1

PROPERTY TAXES

Parcel Number 276-1701 Improvements Assessment $5,478,145 CAD
Land Assessment $1,766,338 CAD Total Assessment $7,244,484 CAD

PROPERTY TAXES

Parcel Number
276-1701
Land Assessment
$1,766,338 CAD
Improvements Assessment
$5,478,145 CAD
Total Assessment
$7,244,484 CAD
(540) 982-2444

CONTACTS

  • Listing ID: 29771233

  • Date on Market: 2023-10-12

  • Last Updated:

  • Address: 4202 Melrose Ave NW, Roanoke, VA 24017

The South Washington Heights Retail Property at 4202 Melrose Ave NW, Roanoke, VA 24017 is currently available. Contact Poe & Cronk Real Estate Group for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

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Roanoke Salem Business Center | 4202 Melrose Ave NW
(540) 982-2444 x

Roanoke Salem Business Center | 4202 Melrose Ave NW

1/2

Zachary May

(540) 982-2444

(540) 982-2444

Bryan Musselwhite CCIM

(540) 855-3654

(540) 855-3654

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