Elevator-Served Hospitality
205 S Main St Blacksburg, VA 24060
205 S Main St, Blacksburg, VA, 24060
Contact for pricing
For Sale
Contact for pricing
Three-story inn with central corridor layout, elevator access, dual stairwells, and covered on-site parking.
Property Size23,940 SF
Price / SF$248.54
Days on Market123
Property Features for 205 S Main St
General Information
- Standard status
- Active
- Size
- 23,940 SF
- Property subtype
- Hospitality, Mixed Use, Multifamily, Retail
Building Details
- Year Built
- 2013
Listing agency
Elliott Inc.
(540) 357-2084
Listed by
Carmen Elliott · License #VA 0225247701
Source
Crexi
Added: Mar 23 Updated: Jul 22 at 11:37PM Checked: Jul 22 at 11:37PM
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 Elliott Inc.
Investment Insights
Based on property information with market context.
The Main Street Inn is a three-story, elevator-served hospitality property featuring approximately 34 existing guest units. The building uses a central corridor layout with dual stairwells and elevator access, supported by on-site covered parking beneath the facility. The asset has been maintained and updated, including modernized common areas and operational infrastructure already in place.
Located in the heart of downtown Blacksburg, Virginia, the property is positioned just steps from Virginia Tech, as well as nearby restaurants and retail along the town’s primary commercial corridor.
Originally designed as an inn, the consistent unit dimensions and stacked plumbing support a potential adaptive reuse path, pending required approvals, including conversion to mixed-use or multifamily apartments.
Located in the heart of downtown Blacksburg, Virginia, the property is positioned just steps from Virginia Tech, as well as nearby restaurants and retail along the town’s primary commercial corridor.
Originally designed as an inn, the consistent unit dimensions and stacked plumbing support a potential adaptive reuse path, pending required approvals, including conversion to mixed-use or multifamily apartments.
Key Highlights
- 3‑story inn built in 2013 with elevator access and dual stairwells
- Approximately 34 existing guest units across three floors with a central corridor layout
- On‑site covered parking and under‑facility parking
Local Financial Insights For Apartment 5plus
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 | $591.8k | $24.72 |
| − Vacancy | −$44.4k | −$1.85 |
| EGI | $547.4k | $22.87 |
| − OpEx | −$246.3k | −$10.29 |
| NOI | $301.1k | $12.58 |
23,940 SF · lease $24.72/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.30M
$3.76M – $5.02M
NOI $301,077 @ 7.0% cap · market cap 5.06%
Second Best
Hotel Hospitality
$1.61M
$1.41M – $1.88M
NOI $112,578 @ 7.0% cap · market cap 1.89%
Theoretical Best
Flex RnD
$5.67M
$4.96M – $6.61M
NOI $396,581 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Main Street Inn
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Hotel - Three-story inn with central corridor layout, elevator access, dual stairwells, and covered on-site parking.
Where is this hotel located?
The property is located at 205 S Main St Blacksburg, VA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 3‑story inn built in 2013 with elevator access and dual stairwells; Approximately 34 existing guest units across three floors with a central corridor layout; On‑site covered parking and under‑facility parking
