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    15 Salem Ave Roanoke, VA 24011

    Sponsored
    For Sale
    $2,850,000

    Prime location, 19,395 SF office space

    Property size:
    19,395 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This three-story, 19,395 square foot Class B office building is located in the heart of Downtown Roanoke, Virginia, at 15-17 Salem Ave SE. Built in 1904 and extensively renovated (2010, 2013, 2017, 2018, with LED lighting upgrades in 2023), the property features a charming courtyard and offers a blend of historic charm and modern amenities. The building includes two available office spaces, a vacant residential apartment on the second floor, elevator access, and ADA-compliant restrooms. High ceilings with exposed brick walls and large windows provide ample natural light. The property sits on a 0.2-acre lot and is zoned D. Its central location offers easy access to the Roanoke City Market Building, fine dining, entertainment, museums, banks, and shopping. The asking price is $2,850,000, translating to $146.95 per square foot. This presents a unique opportunity for investors seeking to capitalize on the growth and vibrancy of Downtown Roanoke. The property's multi-tenancy structure and recent renovations make it an attractive investment with potential for future development.

    Property Features for 15 Salem Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    19,395 SF
    Class
    B
    Lot Size
    8,712 SF

    Building Details

    Year Built
    1904
    Buildings
    1
    Stories
    3

    HighLights

    • Prime Downtown Location: Walkable to restaurants, museums, shops, banks, and entertainment.
    • Elevator and ADA‑compliant restrooms.
    • High ceilings with exposed brick.
    • High foot traffic.
    • Abundant natural light from large windows.
    Property Profile Location Intelligence

    Current Use by Public Records

    The EI Group, Inc. Environmental Consultant Trinity Consultants Environmental Consultant Chapter 13 Trustee Bankruptcy Service LPA Engineer

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.939878329774
    Latitude
    37.272481317685

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    FAQs

    What type of property is this?
    Office Property / Space - Prime location, 19,395 SF office space
    Where is this office property / space located?
    The property is located at 15 Salem Ave Roanoke, VA.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: Prime Downtown Location: Walkable to restaurants, museums, shops, banks, and entertainment.; Elevator and ADA-compliant restrooms.; High ceilings with exposed brick.
    (540) 309-9429
    Request Owner's contact information
    15 Salem Ave Roanoke, VA 24011
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15 Salem Ave Roanoke, VA 24011
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