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    Orange Ave Roanoke, VA 24012

    Sponsored
    For Sale
    $335,000

    3.93 acres, prime development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 3.93-acre site, located in Roanoke, Virginia's vibrant 3500 block of Orange Avenue, presents a compelling development opportunity. Situated in a thriving retail and commercial corridor near the Roanoke Centre for Industry & Technology (RCIT), this property boasts exceptional visibility and accessibility. Prominent businesses such as Advance Auto Parts, Bimbo Bakeries, Eaton, Elizabeth Arden, FedEx Ground, Orvis, and Amazon are located within the RCIT, underscoring the area's economic strength. The site's strategic location benefits from high traffic volume, with an annual average daily traffic count of approximately 38,000 vehicles on Orange Avenue. Further enhancing its potential, a 758-unit apartment complex has recently been approved nearby, indicating strong residential growth in the area. Currently zoned RM-2 by Roanoke City, the property allows for both residential and select commercial uses, offering flexibility for diverse development plans. The parcel's APN is 7100706, 7100707, 7100708, and 7100709. The asking price is $335,000. An adjacent 5.1-acre parcel is also available for purchase. This property is ideal for developers seeking a strategic location with significant growth potential in a dynamic market.

    Property Features for 0 Orange Ave

    General Information

    Property type
    Land
    Lot Size
    171,191 SF

    HighLights

    • $335,000 asking price.
    • 3.93‑acre land parcel.
    • RM‑2 zoning, allowing residential and some commercial uses.
    • Located on Orange Ave NE in Roanoke, VA, 24012.
    • APN: 7100706, 7100707, 7100708, 7100709.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.890763597847
    Latitude
    37.304911465045

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    FAQs

    What type of property is this?
    Land - 3.93 acres, prime development opportunity.
    Where is this land located?
    The property is located at Orange Ave Roanoke, VA.
    What is the asking price?
    The asking price for this property is $335,000.
    What are key features of this property?
    This property features: $335,000 asking price.; 3.93-acre land parcel.; RM-2 zoning, allowing residential and some commercial uses.
    (540) 982-0011
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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
    Orange Ave Roanoke, VA 24012
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