Retail/Warehouse Flex
1850 Palmer Street Christiansburg, VA 24073
1850 Palmer Street, Christiansburg, VA, 24073
$550,000
Pending
For Sale
$550,000
Pending
COMMERCIAL - Christiansburg, VA
Property Size5,000 SF
Lot Size0.66 Acres
Days on Market47
Property Features for 1850 Palmer Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Pending
- Lot size
- 0.66 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- Apple Acres PT LOT 1
- Tax Annual Amount
- 2355
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1990
- Flooring type
- Concrete
- Building materials
- Pre-Eng Steel/Skin
Listing Agency
RE/MAX 8 - Blacksburg
(540) 552-8855
1344 N Main St., Blacksburg, VA
Listed by
Amy Hudson · License #225037894
(540) 320-5498
Added: Jun 3 Checked: Jul 19 at 5:06 am
MLS# 427594
Copyright © 2026 New River 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.
Investment Insights
Based on property information with market context.
The property is a 5,000 SF retail/warehouse flex building designed to support both showroom and operational needs. Approximately 1,750 SF is finished, heated, and air-conditioned space, suitable for sales, office, parts, and restroom use. The balance is a heated warehouse area, providing the flexibility typically required for light industrial and distribution-type operations. Construction features pre-engineered metal paneling with a partial brick facade at the front showroom, helping define the retail presence while maintaining an efficient warehouse footprint.
Located at 1850 Palmer Street in Christiansburg, the property is described as having strong visibility along with an approximately 23,000 vehicles per day traffic count. The site is zoned Industrial I-2, supporting a variety of flexible uses consistent with industrial zoning. Access is noted as convenient to Blacksburg, Christiansburg, Salem, and Radford.
For tenants and buyers seeking a single building that combines front-of-house finished space with a heated warehouse, this configuration can work for sales and service operations alongside storage and fulfillment. Because the property is currently leased, it also offers an opportunity for those looking to acquire commercial real estate with existing income, while retaining an I-2 foundation for adaptable use.
Located at 1850 Palmer Street in Christiansburg, the property is described as having strong visibility along with an approximately 23,000 vehicles per day traffic count. The site is zoned Industrial I-2, supporting a variety of flexible uses consistent with industrial zoning. Access is noted as convenient to Blacksburg, Christiansburg, Salem, and Radford.
For tenants and buyers seeking a single building that combines front-of-house finished space with a heated warehouse, this configuration can work for sales and service operations alongside storage and fulfillment. Because the property is currently leased, it also offers an opportunity for those looking to acquire commercial real estate with existing income, while retaining an I-2 foundation for adaptable use.
Key Highlights
- 5,000 SF commercial building with retail/warehouse layout, including ~1,750 SF finished, heated, and air‑conditioned space
- Heated warehouse area plus finished space for sales, office, parts, and restroom use
- Traffic count of approximately 23,000 vehicles per day and well‑located for visibility
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.0k | $15.00 |
| − Vacancy | −$7.9k | −$1.58 |
| EGI | $67.1k | $13.43 |
| − OpEx | −$20.1k | −$4.03 |
| NOI | $47.0k | $9.40 |
5,000 SF · lease $15.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.04M – $1.38M
NOI $82,828 @ 7.0% cap · market cap 15.06%
Second Best
Warehouse
$815.1K
$713.2K – $950.9K
NOI $57,056 @ 7.0% cap · market cap 10.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Aireco Supply, Inc.
Big Box & Wholesale Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Retail and heated warehouse space with finished office/showroom area and I-2 zoning, currently leased.
Where is this flex space located?
The property is located at 1850 Palmer Street Christiansburg, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5,000 SF commercial building with retail/warehouse layout, including ~1,750 SF finished, heated, and air‑conditioned space; Heated warehouse area plus finished space for sales, office, parts, and restroom use; Traffic count of approximately 23,000 vehicles per day and well‑located for visibility
