Listing Agency: ADVANTAGE REALTY LLC

Listed By: Esther Cerle · License #VA SA029521000 Show Phone

Source: Crexi

Added: Apr 11 Changed: Aug 30 Last Checked: Aug 30 at 5:03PM

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Investment Insights

Based on property information with market context.

This live-work space occupies a former residence associated with the former principal of Montvale High School. Interior details include crafted woodwork, French doors, crystal door knobs, hardwood flooring, and a fireplace. A large storage shed conveys with the property, and the roof was replaced with architectural shingles in 2016.

The property is zoned for both residential and commercial use and fronts Route 460 between Roanoke and Lynchburg. A median crossover provides access from the roadway. Outdoor features include fruit trees, grapevines, a nut tree, and honeysuckle bushes, adding established landscape character around the home and business setting.

Key Highlights

• Live‑work property with both residential and commercial zoning
• Frontage on Route 460 between Roanoke and Lynchburg
• Median crossover provides roadway access

Property Analytics

Property Profile

Current Use

Live-work space

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

69

Businesses Nearby

Explore this area Business Placement

Demographics for 24122, VA

1,624

Population

687

Households

2.4

Avg Household Size

49

Median Age

19%

College-Educated

82%

High-School Grad

29.6 sq mi

ZIP Area

55

Density / Sq Mi

$65,238

Median Household Income

$42,376

Median Earnings

$189,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Live-work space - Former school principal’s residence offering a combined home-and-business setting with commercial and residential zoning.

Where is this live-work space located?

The property is located at 11583 W Lynchburg Salem Tpke Montvale, VA.

What are key features of this property?

This property features: Live‑work property with both residential and commercial zoning; Frontage on Route 460 between Roanoke and Lynchburg; Median crossover provides roadway access