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    510 Mc Clanahan St Roanoke, VA 24014

    Sponsored
    For Sale
    $1,995,000

    1,521 SF Vacant Bank, Redevelopment Potential

    Property size:
    1,521 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 1,521-square-foot vacant bank building presents a prime redevelopment opportunity in a thriving South Roanoke commercial area. Located at 510 McClanahan St SW, Roanoke, VA 24014, this property sits on a 1.08-acre lot and offers high visibility on McClanahan Street and Franklin Road. Built in 2005, the single-story Class B building is currently vacant, providing a blank canvas for a variety of uses. The asking price is $1,995,000, translating to $1,610.78 per square foot and $2,268,518.50 per acre. The property's Commercial General (CG) zoning allows for diverse development options. Its strategic location near Carilion Clinic, Earth Fare, and Towers Shopping Center ensures high foot traffic and visibility. The property's proximity to numerous restaurants and other commercial businesses further enhances its appeal. This is an ideal investment for owner-users seeking a retail redevelopment project in a high-demand location. The property's size and zoning provide significant flexibility for future development, making it a compelling opportunity for investors seeking a strong return on investment. The absence of current tenants allows for immediate customization and development to suit specific business needs. This location offers excellent access to major roadways and a strong local economy.

    Property Features for 510 Mc Clanahan St

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,521 SF
    Class
    B
    Lot Size
    47,045 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1

    HighLights

    • 1,521 SF vacant bank building on a 1.08‑acre lot in South Roanoke, VA.
    • High‑visibility location on McClanahan St & Franklin Rd.
    • $1,995,000 asking price ($1,610.78/SF, $2,268,518.50/acre).
    • 2005‑built, single‑story Class B building with Commercial General (CG) zoning.
    • Prime redevelopment opportunity near Carilion Clinic, Earth Fare, and Towers Shopping Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon 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
    -79.9512941
    Latitude
    37.2520338

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    FAQs

    What type of property is this?
    Individual retail property - 1,521 SF Vacant Bank, Redevelopment Potential
    Where is this individual retail property located?
    The property is located at 510 Mc Clanahan St Roanoke, VA.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: 1,521 SF vacant bank building on a 1.08-acre lot in South Roanoke, VA.; High-visibility location on McClanahan St & Franklin Rd.; $1,995,000 asking price ($1,610.78/SF, $2,268,518.50/acre).
    Request Owner's contact information
    510 Mc Clanahan St Roanoke, VA 24014
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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
    510 Mc Clanahan St Roanoke, VA 24014
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