506 1st St SW, Roanoke, VA 24011

Building Details

Year built

1930

Listing agent JAMES L WOLTZ Show Phone

Listing office WOLTZ & ASSOCIATES j**@woltz.com 23 FRANKLIN ROAD, Roanoke, VA Show Phone

Listing date Apr 22, 2026

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MLS# 926792

Copyright © 2026 Roanoke Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Located in downtown Roanoke, this parking lot will be offered at auction on June 16th, 2026. The property features 16 parking spaces, all currently under month-to-month private leases for $60 per space per month, providing immediate income. Situated directly across from Sidecar, Martin's Downtown Bar & Grill, and Jaybird Tavern, the lot benefits from consistent daily and nightlife traffic. The property occupies a 0.13-acre lot and has been a vacant lot since 1930, according to plat surveys. This property presents an opportunity for investors seeking an income-producing asset or business owners needing dedicated parking in a high-traffic area.

Suggested Use

Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

• Rent-N-Ride — 501 Marshall Ave SW # C, Roanoke, VA 24016
• U-Haul Neighborhood Dealer — 837 Campbell Ave SE, Roanoke, VA 24013

Location Insight

• Map
• Local Demand

City

Roanoke

County

Salem

State

Virginia

Longitude

-79.942121

Latitude

37.269647

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FAQs

What type of property is this?

Parking lot & garage - Prime downtown parking lot with immediate income potential.

Where is this parking lot & garage located?

The property is located at 506 1st St SW Roanoke, VA.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: Prime downtown Roanoke location with high traffic from nearby bars and restaurants.; Immediate income potential from 16 parking spaces currently leased month‑to‑month at $60 per space.; Opportunity to control parking in a market with limited supply and growing demand.