Roanoke Salem Business Center | 4142 Melrose Ave NW
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Roanoke Salem Business Center 4142 Melrose Ave NW
162,903 SF 100% Leased Retail Building Roanoke, VA 24017 £4,977,063 (£31/SF) 8.46% Net Initial Yield
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. Currently it offers a reliable and attractive source of revenue bringing in a monthly gross income of $68,000.
Call Zack May (540) 855-3643 or Bryan Musselwhite, CCIM (540) 855-3654 today for more information or to schedule a property tour.
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
Building Size
162,903 SF
Building Class
C
Year Built
1957
Price
£4,977,063
Price Per SF
£31
Net Initial Yield
8.46%
NOI
£420,882
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.20
Land Acres
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 Route
- Corner Lot
- Signage
PROPERTY TAXES
| Parcel Number | 276-1701 | Improvements Assessment | £3,047,512 |
| Land Assessment | £982,621 | Total Assessment | £4,030,133 |
PROPERTY TAXES
Parcel Number
276-1701
Land Assessment
£982,621
Improvements Assessment
£3,047,512
Total Assessment
£4,030,133
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Zachary May -
Bryan Musselwhite CCIM -
Poe & Cronk Real Estate Group
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Roanoke Salem Business Center | 4142 Melrose Ave NW
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