Standalone Storefront with Monument
For Sale
Contact for pricing
1600 N Main St, Blacksburg, VA 24060
General Commercial storefront with dedicated parking, monument signage, and convenient access to Virginia Tech.
Property Size5,482 SF
Lot Size1.29 Acres
Price / SF$272.71
Days on Market134
Property Features for 1600 N Main St
General Information
Standard status
Active
Size
5,482 SF
Class
B
Total Parking Spaces
69
Lot size
1.29 Acres
Property subtype
Retail
Zoning
GC
Amenities
high-impact monument signage
Building Details
Year Built
1970
Buildings
1
Stories
1
Building Size
5,482 SF
Listing Agency:
Hall Associates
Listed By:
Wyatt Dean · License #VA 0225277823
Source:
Crexi
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 11:47PM
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
Investment Insights
Based on property information with market context.
This standalone, single-story storefront property at 1600 N Main St in Blacksburg contains 5,482 square feet on a 1.29-acre site. Built in 1970, the building includes 69 dedicated parking spaces and established monument signage. The property is zoned GC, with a use profile that includes retail, medical suites, and high-volume dining.
The site fronts North Main Street in Blacksburg’s Uptown corridor and is located just over a mile from Virginia Tech’s campus, which has approximately 38,000 students. Maple Ridge Townhomes directly adjoins the property and includes 314 student housing units. The combination of a freestanding layout, on-site parking, signage, and nearby residential and campus context supports a range of commercial occupancy plans.
The site fronts North Main Street in Blacksburg’s Uptown corridor and is located just over a mile from Virginia Tech’s campus, which has approximately 38,000 students. Maple Ridge Townhomes directly adjoins the property and includes 314 student housing units. The combination of a freestanding layout, on-site parking, signage, and nearby residential and campus context supports a range of commercial occupancy plans.
Key Highlights
- 5,482‑square‑foot single‑story building on a 1.29‑acre site
- 69 dedicated parking spaces
- GC zoning supports a range of commercial uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,821
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,236,420
$1.2M
Cap Rate 7%
$883,157
$883.2K
Cap Rate 9%
$686,900
$686.9K
Market Conditions
NOI Build-Up for 5,482 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$98.7K $18.00/SF
− Vacancy
−$10.4K −$1.89/SF
EGI
$88.3K $16.11/SF
− OpEx
−$26.5K −$4.83/SF
NOI
$61.8K $11.28/SF
Area
Montgomery County, VA
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,236,420
Cap Rate 7%
$883,157
Cap Rate 9%
$686,900
Alternative Uses
Best Use
Retail
$883.2K
$772.8K – $1.03M
NOI $61,821 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.30M
$1.14M – $1.51M
NOI $90,813 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 72%
Shops & Services 22%
Apparel 6%
Food Lion Grocery Store
Groceries
28,570 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,407 visits/mo
0.4 miles
Goodwill
Apparel
2,207 visits/mo
0.3 miles
Jiffy Lube
Shops & Services
297 visits/mo
0.4 miles
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - General Commercial storefront with dedicated parking, monument signage, and convenient access to Virginia Tech.
Where is this storefront property located?
The property is located at 1600 N Main St Blacksburg, VA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 5,482‑square‑foot single‑story building on a 1.29‑acre site; 69 dedicated parking spaces; GC zoning supports a range of commercial uses
