Prime Shopping Center on
For Sale
Contact for pricing
4142 Melrose Ave NW, Roanoke, VA 24017
Shopping center with high traffic and income potential.
Property Size162,903 SF
Lot Size3.74 Acres
Price / SF$38.06
Days on Market207
Property Features for 4142 Melrose Ave NW
General Information
Standard status
Active
Size
162,903 SF
Lot size
3.74 Acres
Property subtype
Retail
Occupancy
89%
Lease Type
Gross
Investment Type
Net Lease
Net Operating Income
$534,101
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
Sands Investment Group
(858) 212-7473
Listed By:
Lasha Kortava · License #GA 391027
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 2:37PM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
This shopping center offers an opportunity to acquire a property with an 11% vacancy rate and a gross annual income of $809,827. The property is located on Melrose Ave and Peters Creek Rd, benefiting from a traffic volume of 40,000 vehicles per day and a population of 237,549. The location is surrounded by other businesses, providing foot traffic and exposure. Large signage enhances visibility. The property is located at 4142 Melrose Ave NW, Roanoke, VA 24017 and has a property size of 162903 square feet.
Key Highlights
- Prime location on Melrose Ave and Peters Creek Rd with 40,000 VPD.
- $809,827 in gross annual income.
- High population density of 237,549.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 24017, VA
23,902
Population
11,263
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
87%
High-School Grad
9.0 sq mi
ZIP Area
2,656
Density / Sq Mi
$45,954
Median Household Income
$30,345
Median Earnings
$966
Median Rent
$139,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Quilts on main — Roanoke, VA 24017
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with high traffic and income potential.
Where is this shopping center located?
The property is located at 4142 Melrose Ave NW Roanoke, VA.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: Prime location on Melrose Ave and Peters Creek Rd with 40,000 VPD.; $809,827 in gross annual income.; High population density of 237,549.
