506 1st St SW, Roanoke, VA 24011

Building Details

Year built

1930

Listing agent JAMES L WOLTZ Show Phone

Listing office WOLTZ & ASSOCIATES j**@woltz.com 23 FRANKLIN ROAD, Roanoke, VA Show Phone

Listing date Apr 22, 2026

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MLS# 926792

Copyright © 2026 Roanoke 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.

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Overview

This is a dedicated parking lot offering 16 spaces on approximately 0.13 acres. According to plat surveys referenced in the public remarks, the property has been vacant lot since 1930. The 16 spaces are currently leased under month-to-month private parking agreements at $60 per spot, per month.

The property is located at 506 1st St SW in the City of Roanoke and is described in the remarks as being positioned in downtown Roanoke. The lot sits directly across from Sidecar, Martin's Downtown Bar & Grill, and Jaybird Tavern, placing it within an area that experiences regular daily and nightlife activity.

For buyers seeking a simple parking asset, the current month-to-month leases provide immediate structure around occupancy without relying on long-term tenant commitments. For business owners, the property can also support dedicated parking needs in a downtown setting where private parking is described as limited in the remarks. The sale is being offered as an auction property on June 16, 2026, and the MLS list price is stated as required but does not reflect a final sales price.

Suggested Use

Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

• Rent-N-Ride — 501 Marshall Ave SW # C, Roanoke, VA 24016
• U-Haul Neighborhood Dealer — 837 Campbell Ave SE, Roanoke, VA 24013

Location Insight

• Map
• Local Demand

City

Roanoke

County

Salem

State

Virginia

Longitude

-79.942121

Latitude

37.269647

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FAQs

What type of property is this?

Parking lot & garage - Small downtown parking lot with 16 leased spaces generating month-to-month rental income for investors or operators.

Where is this parking lot & garage located?

The property is located at 506 1st St SW Roanoke, VA.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: Prime downtown Roanoke location with high traffic from nearby bars and restaurants.; Immediate income potential from 16 parking spaces currently leased month‑to‑month at $60 per space.; Opportunity to control parking in a market with limited supply and growing demand.