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4142 Melrose Ave NW
Roanoke, VA 24017
Roanoke Salem Business Center · Retail Property For Sale
Investment Highlights
- This corner lot, strategically positioned at the bustling intersection of Melrose Ave and Peters Creek Road
- Just a quick 10-minute drive from the Roanoke–Blacksburg Regional Airport, this location is perfect for catching both local and traveling clientele.
- Population of 231,549, making an average household income of $81,736 within a 10-mile radius.
- Surrounded by major national tenants like Harbor Freight, Carpet Factory, Aaron's, and Wells Fargo
- 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
Executive Summary
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
162,903 SF
Building Class
C
Year Built
1957
Price
$8,457,544 CAD
Price Per SF
$51.92 CAD
Cap Rate
8.61%
NOI
$728,195 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’ on Melrose Ave
Amenities
- Bus Line
- Corner Lot
- Signage
Property Taxes
| Parcel Number | 276-1701 | Improvements Assessment | $5,280,926 CAD |
| Land Assessment | $2,786,415 CAD | Total Assessment | $8,067,341 CAD |
Property Taxes
Parcel Number
276-1701
Land Assessment
$2,786,415 CAD
Improvements Assessment
$5,280,926 CAD
Total Assessment
$8,067,341 CAD
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