Roanoke Salem Business Center - Ranoke VA
Multi-Tenant | 162,903 Sq. Ft. | 8.2% CAP Rate | Strong Demographics | 89% Occupancy | $39 P/SQFT
Marketing description
Roanoke-Salem Plaza, strategically situated at 4142 Melrose Avenue, Roanoke, VA 24017. Spanning over 162,000 square feet and featuring a robust monthly gross income of approximately $66,500, this property not only delivers a reliable revenue stream but also boasts the potential for future growth. With a generous ±19 acres of land, you can explore a myriad of redevelopment opportunities that cater to the ever-evolving needs of the community. Its prime location near Roanoke and Salem, combined with easy access to I-81—one of the East Coast's busiest roadways—ensures consistent interest from prospective tenants eager to capitalize on this vibrant area. Don’t miss your chance to invest in a property that promises stability today and endless possibilities for tomorrow. Act now and secure your stake in Roanoke-Salem Plaza!
Investment highlights
Gross Annual Income: $805,886.52
Net Operating Income (NOI): $534,101.89
Cap Rate: 8.2%
Price / Sq. Ft.: $39
Building Size: 162,453 Sq. Ft.
Year Built: 1957
Lot Size: 18.97 Acres
Parking Spaces: 200
Occupancy: 89%
Units: 18
Vacant Units: 4 units totaling 17,289 Sq. Ft.
Escalations: In place
Investment Highlights:
Stable, income-producing multi-tenant property with room for lease-up of vacant space
Strong demographics supporting ongoing tenant demand
Large lot and ample parking for retail and industrial use
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