Blacksburg Office Building For
For Sale
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2206 S Main St, Blacksburg, VA 24060
20,023 SF building on 2.79 acres in Blacksburg.
Property Size20,023 SF
Lot Size2.79 Acres
Price / SF$174.80
Days on Market1906
Property Features for 2206 S Main St
General Information
Standard status
Active
Size
20,023 SF
Class
B
Lot size
2.79 Acres
Property subtype
Office
Zoning
O
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1975
Year Renovated
2021
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
Cushman & Wakefield Thalhimer - Roanoke, Virginia
Listed By:
Price Gutshall · License #VA 0225214051
(540) 797-5435
Source:
Crexi
Added: Aug 5, 2021
Changed: Oct 3
Last Checked: Oct 20 at 8:08PM
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 Cushman & Wakefield Thalhimer - Roanoke, Virginia
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located on South Main Street in Blacksburg, this property features a 20,023 square foot building and a 2,000 square foot garage on 2.79 acres. The site offers 300 feet of frontage along South Main Street. Situated immediately off Route 460, it is near the Virginia Tech Corporate Research Center. The location benefits from high visibility, with approximately 25,000 vehicles per day on South Main Street. Across the street, there is new construction of approximately 200 apartments. This property is suitable for an owner-user, a value-add investor, or redevelopment.
Key Highlights
- Prime location on South Main Street in Blacksburg.
- 20,023 SF building plus 2,000 SF garage on 2.79 acres.**
- 300' of frontage along S. Main Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,707
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,894,140
$4.9M
Cap Rate 7%
$3,495,814
$3.5M
Cap Rate 9%
$2,718,967
$2.7M
Market Conditions
NOI Build-Up for 20,023 SF
Gross rent
$394.1K $19.68/SF
− Vacancy
−$67.8K −$3.38/SF
EGI
$326.3K $16.30/SF
− OpEx
−$81.6K −$4.07/SF
NOI
$244.7K $12.22/SF
Area
Montgomery County, VA
Vacancy
17.20%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,894,140
Cap Rate 7%
$3,495,814
Cap Rate 9%
$2,718,967
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,707 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$4.74M
$4.15M – $5.53M
NOI $331,694 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
729
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - 20,023 SF building on 2.79 acres in Blacksburg.
Where is this office building located?
The property is located at 2206 S Main St Blacksburg, VA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime location on South Main Street in Blacksburg.; 20,023 SF building plus 2,000 SF garage on 2.79 acres.**; 300' of frontage along S. Main Street.
