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    700 University City Blvd Blacksburg, VA 24060

    Sponsored
    For Sale
    $7,850,000

    56,044 SF Office Building, Redevelopment Potential

    Property size:
    56,044 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 56,044 square foot Class A office building, situated on a 2.559-acre lot in Blacksburg, Virginia, presents a unique investment opportunity. Built in 1985, this two-story structure boasts modern architectural features and abundant natural light. Currently zoned GC - Commercial General, the property offers significant redevelopment potential, with its large floor plates easily adaptable to various uses. Its prime location adjacent to Virginia Tech and downtown Blacksburg ensures high visibility and accessibility, making it ideal for a mixed-use development incorporating residential, retail, and commercial spaces. The existing building features flexible interior layouts and ample on-site parking (90 spaces), further enhanced by its proximity to a Blacksburg Transit bus stop. The asking price is $7,850,000, translating to $140.07 per square foot. This property offers a potential short-term lease-back opportunity, allowing for immediate revenue generation for the new owner. The property's address is 700 University City Blvd, Blacksburg, VA 24060, with APN 225-10 A1. This is a rare opportunity to acquire a substantial property in a highly sought-after location with significant upside potential.

    Property Features for 700 University City Blvd

    General Information

    Property type
    Medical offices
    Square Feet
    56,044 SF
    Class
    A
    Lot Size
    111,470 SF

    Building Details

    Year Built
    1985
    Buildings
    1
    Stories
    2

    HighLights

    • 56,044 SF Class A office building on a 2.56‑acre lot in Blacksburg, VA.
    • Large floor plates adaptable to various uses.
    • Prime location near Virginia Tech and downtown Blacksburg.
    • Potential short‑term lease‑back opportunity.
    • 90 on‑site parking spaces and adjacent bus stop.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jerusalem Walker Nurse Practitioner Lauren Watts Social Worker Graham Richard G Counselor Lance R. Nielson, ... Marriage Or Relationship Counselor Lora Covey Pharmacy

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Blacksburg
    County
    Montgomery
    State
    Virginia
    Longitude
    -80.431629205314
    Latitude
    37.232954731092

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    FAQs

    What type of property is this?
    Medical office - 56,044 SF Office Building, Redevelopment Potential
    Where is this medical office located?
    The property is located at 700 University City Blvd Blacksburg, VA.
    What is the asking price?
    The asking price for this property is $7,850,000.
    What are key features of this property?
    This property features: 56,044 SF Class A office building on a 2.56-acre lot in Blacksburg, VA.; Large floor plates adaptable to various uses.; Prime location near Virginia Tech and downtown Blacksburg.
    Request Owner's contact information
    700 University City Blvd Blacksburg, VA 24060
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    Blacksburg, VA 24060
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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
    700 University City Blvd Blacksburg, VA 24060
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