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    124 Wells Ave Roanoke, VA 24016

    Sponsored
    For Lease
    $192 SF/Yr

    Downtown Roanoke, Single-Tenant Office

    Lot size:
    2,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 2,640 square foot office building presents a fantastic opportunity for a single tenant seeking a well-maintained and conveniently located space in the heart of Roanoke. The property boasts a thoughtfully designed layout, including eight individual offices, providing ample space for a team or department. Two dedicated conference rooms offer versatile options for meetings and presentations, while a welcoming reception area ensures a professional first impression. Two restrooms add to the convenience and functionality of the space. The building has undergone recent renovations, resulting in a modern and updated interior. Beyond the interior, the property includes a significant advantage: a private paved parking lot with over fifteen spaces, eliminating the parking challenges often associated with downtown locations. Its prime location on Wells Avenue offers easy access to the Hotel Roanoke and is within comfortable walking distance to the vibrant downtown Roanoke area, providing employees with a wealth of amenities and attractions nearby. This is a rare opportunity to secure a well-equipped, conveniently located, and attractively renovated office space in a highly desirable area. The single-tenant occupancy ensures privacy and control over the entire space. This property is ready for immediate occupancy.

    Property Features for 124 Wells Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,640 SF

    Unit(s) available at that property

    Space
    Size
    2,640 SF
    Rate per SF
    $192

    HighLights

    • 2,640 square foot single‑tenant office building.
    • Features eight offices, two conference rooms, reception area, and two bathrooms.
    • Includes a private paved parking lot with 15+ spaces.
    • Conveniently located on Wells Avenue near Hotel Roanoke and within walking distance of Downtown Roanoke.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Law Firm Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9435043
    Latitude
    37.2754436

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Roanoke, Single-Tenant Office
    Where is this office property / space located?
    The property is located at 124 Wells Ave Roanoke, VA.
    What is the lease rate?
    The lease rate is $192 SF/Yr.
    What are key features of this property?
    This property features: 2,640 square foot single-tenant office building.; Features eight offices, two conference rooms, reception area, and two bathrooms.; Includes a private paved parking lot with 15+ spaces.
    Request Owner's contact information
    124 Wells Ave Roanoke, VA 24016
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    Roanoke, VA 24016
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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
    124 Wells Ave Roanoke, VA 24016
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