Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3518 Orange Ave NE Roanoke, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5.1 acre site in a vibrant retail and commercial corridor.

    Type:LAND
    Lot size:
    5.10 Acres
    Added:
    Mar 21, 2025
    Days on Market:
    407
    Last Refresh:
    Apr 5 at 11:05 pm

    Property Features for 3518 Orange Ave NE

    General Information

    Standard status
    Active
    Lot size
    5.10 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Gavin Hollingsworth
    Gavin Hollingsworth

    Listing agent Gavin Hollingsworth License #0225233452

    Listing office Hall Associates, Inc

    Listing date Mar 21, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Hall Associates, Inc

    Overview

    Prime Roanoke Valley Development Site

    This 5.1-acre site is located in the heart of the Roanoke Valley, in the 3500 block of Orange Avenue. It presents a development opportunity within a retail and commercial corridor, near the Roanoke Centre for Industry & Technology (RCIT). The RCIT is home to companies including Advance Auto Parts, Bimbo Bakeries, Eaton, Elizabeth Arden, Fed Ex Ground, Orvis and Amazon. Residential development is also expanding in the area, with a 758-unit apartment complex having been approved. The Annual Average Daily Traffic count along Orange Avenue is approximately 38,000 vehicles per day. The current Roanoke City zoning is RM-2, which permits residential and some commercial uses. This parcel can be purchased with an adjoining 3.93 acres in an additional four parcels.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    El Rodeo Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Salem
    State
    Virginia
    Longitude
    -79.8918
    Latitude
    37.3051

    Nearby Similar for Sale

    • $545,000

      Roanoke Commercial Investment Opportunity

      Leased commercial building in Roanoke, Virginia with strong returns.
      414 9th St SE, Roanoke, VA 24013
      View Details
    • $850,000

      Roanoke Commercial Land For Sale

      2.11 acres of commercial land with existing structures.
      2925-2941 Leslie Ln, Roanoke, VA 24018
      View Details
    • $650,000

      Roanoke Office Building For Sale

      Office building with subdivision potential and ample parking.
      356 Campbell Ave SW, Roanoke, VA 24016
      View Details
    • $476,850

      Move-in Ready Office Space

      Well-appointed office space with updated features and accessible location.
      624-626 Abney Rd, Roanoke, VA 24012
      View Details
    • $329,000

      Versatile Retail and Industrial Property

      Retail and industrial space in high-traffic Roanoke location.
      1408 Williamson Rd NE, Roanoke, VA 24012
      View Details
    • $330,000

      Roanoke Duplex Near Grandin

      Duplex with two units near Grandin, Roanoke.
      1811 Windsor Ave SW, Roanoke, VA 24015
      View Details
    • $595,000

      Roanoke County Land For Sale

      2.23 acres of commercial land with development potential.
      5335 Airport Rd NW, Roanoke, VA 24012
      View Details
    • $299,950

      Updated Commercial Space with Parking

      Remodeled commercial space with parking near airport and retail.
      5111 Airport Rd NW, Roanoke, VA 24012
      View Details
    • $675,998

      Renovated Roanoke Residence with Upscale Finishes

      Renovated residence with income potential near downtown Roanoke.
      819 Campbell Ave SW, Roanoke, VA 24016
      View Details
    • $350,000

      New Construction Duplex in Roanoke

      New construction duplex with modern finishes, ideal for investment.
      703 Bibb St NE, Roanoke, VA 24012
      View Details
    • $350,000

      Roanoke Commercial Property For Sale

      Commercial property in North Roanoke with retail and storage space.
      5623 Williamson Rd, Roanoke, VA 24012
      View Details
    • $344,950

      Roanoke Duplex Near Grandin

      Versatile duplex in a desirable location, great for investors.
      1825 Cambridge Ave SW, Roanoke, VA 24015
      View Details

    FAQs

    What type of property is this?
    Land - 5.1 acre site in a vibrant retail and commercial corridor.
    Where is this land located?
    The property is located at 3518 Orange Ave NE Roanoke, VA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Prime development opportunity in the heart of the Roanoke Valley.; Located in a vibrant retail and commercial corridor.; Close proximity to the Roanoke Centre for Industry & Technology (RCIT) and leading companies.
    (540) 982-0011 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gavin Hollingsworth
    Gavin Hollingsworth
    Real Estate License ID: 0225233452
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!