Mixed-Use Property with Office
For Sale
$1,800,000
3712 S Main Street, Blacksburg, VA 24060
Commercial Sale, Blacksburg, VA
Property Size4,000 SF
Lot Size1.27 Acres
Price / SF$450
Days on Market2172
Property Features for 3712 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
000000
Directions
Property is located at the corner of Davis St and South Main St in Blacksburg
Standard status
Active
APN
067-A-1 0, 067- A1 1, 067-A 1 2
Lot size
1.27 Acres
Listing Agency:
National Land Realty, Richmond, VA
(855) 384-5263
Listed By:
Casey Reynolds · License #0225217447
(540) 577-4249
Added: Oct 26, 2020
Changed: Sep 30
Last Checked: Oct 6 at 9:06AM
MLS# 11253454
Copyright © 2026 My State MLS. 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.
This mixed-use property combines a former ski shop, a 4,000-square-foot office building, and two residential structures. The site encompasses 1.27 acres and includes a range of existing commercial and residential improvements suitable for continued mixed-use occupancy or further planning within the stated UDA designation.
The property is positioned along S Main Street in Blacksburg, adjacent to Montgomery Regional Hospital and Main Street. Its combination of office, former retail, and residential components provides a varied physical layout in a setting identified for urban development. The improvements and land area offer a substantial existing base for an owner-user, redevelopment planning, or a mixed-use operating concept, subject to applicable approvals.
The property is positioned along S Main Street in Blacksburg, adjacent to Montgomery Regional Hospital and Main Street. Its combination of office, former retail, and residential components provides a varied physical layout in a setting identified for urban development. The improvements and land area offer a substantial existing base for an owner-user, redevelopment planning, or a mixed-use operating concept, subject to applicable approvals.
Key Highlights
- 1.27‑acre mixed‑use property in Blacksburg, VA
- 4,000‑square‑foot office building included
- Former ski shop provides existing retail‑oriented space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,800
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,000
$1.1M
Cap Rate 7%
$754,286
$754.3K
Cap Rate 9%
$586,667
$586.7K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$96.0K $24.00/SF
− Vacancy
−$11.5K −$2.88/SF
EGI
$84.5K $21.12/SF
− OpEx
−$31.7K −$7.92/SF
NOI
$52.8K $13.20/SF
Area
Montgomery County, VA
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,000
Cap Rate 7%
$754,286
Cap Rate 9%
$586,667
Alternative Uses
Best Use
Mixed Use
$754.3K
$660.0K – $880.0K
NOI $52,800 @ 7.0% cap · market cap 2.93%
Second Best
Office B
$698.4K
$611.1K – $814.8K
NOI $48,885 @ 7.0% cap · market cap 2.72%
Theoretical Best
Flex RnD
$946.6K
$828.3K – $1.10M
NOI $66,263 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an established office component, former retail space, and two residential structures on a substantial commercial parcel.
Where is this mixed-use property located?
The property is located at 3712 S Main Street Blacksburg, VA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 1.27‑acre mixed‑use property in Blacksburg, VA; 4,000‑square‑foot office building included; Former ski shop provides existing retail‑oriented space
