315 24Th StRoanoke, VA 24017

Property Details for 315 24Th St

Year built

1956

Construction

TYPE NOT SPECIFIED

Lot size

5.99 AC

Property size (Sq ft)

15,800 SF

Zone code

I-1

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

231-0101

APU

2310101

Description

This exceptional 15,800-square-foot warehouse, located at 315 24th St NW in Roanoke, VA 24017, presents a unique investment opportunity. Built in 1956, this single-story building sits on a three-acre lot and boasts a recently installed roof and fresh paint. The property features a spacious masonry structure with three wide entrances for convenient access, enhancing operational efficiency. Security is ensured with a fenced and gated lot, complete with cameras and lighting. A newly paved parking lot complements the property's appeal. An additional three-acre parking lot is available for lease, offering further expansion potential. This lot also benefits from gated access, fencing, lighting, and camera surveillance. The property is zoned I-1, allowing for a wide range of commercial, retail, and industrial uses. Currently vacant, the space is adaptable to single or multi-tenant occupancy. The building includes an additional 2,000-square-foot structure with two offices. The landlord is open to making improvements, potentially including the creation of more open space and the addition of a drive-in door to further enhance functionality. Its strategic location in the heart of Roanoke City, across from a Family Dollar, provides excellent visibility and accessibility to major roadways, including Interstates 81 and 581. This property offers a compelling combination of size, location, and adaptability, making it an attractive proposition for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $2,149,472

  6.5%

  $1,984,128

  7%

  $1,842,405

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,108,588

  Geo Method

  $5,621,434

• Alternative Use

  Use

  Valuation

  Residential

  $1,984,128

  Hospitality

  $1,817,451

  Educational

  $1,512,098

  Medical

  $1,564,101

  Retail

  $2,352,152

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.2838

Longitude

-79.9752

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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