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    7857 Enon Dr Hollins, VA 24019

    For Sale
    $1,300,000

    10,129 SF Office Building, Value-Add Opportunity

    Property size:
    10,129 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This 10,129-square-foot, two-story Class B office building, situated on a 3.11-acre lot in Hollins, Virginia (zip code 24019), presents a compelling value-add investment opportunity. Built in 1998 and previously utilized as the Hollins Communications Research Institute, the property boasts a park-like setting with mountain views. Currently operating at 15% occupancy with a single tenant under a short-term lease (expiring September 30, 2024), this multi-tenant building offers significant upside potential. The flexible layout includes individual offices, adaptable exam rooms, break areas on both floors, and ample storage, even an apartment. Zoned C-1, it's ideally suited for medical, traditional office, or educational uses. Its prime location near I-81's Hollins exit provides easy access to Salem, Roanoke City, and Botetourt County. The property benefits from the proximity to numerous amenities, including major retailers (Tractor Supply Co., Camping World), hotels, and the recently expanded Wells Fargo Customer Support Center (a $87 million expansion adding 1,100 jobs). The asking price is $1,300,000 ($128.34/SF). The building offers one lease renewal option for six months.

    Property Features for 7857 Enon Dr

    General Information

    Property type
    Medical offices
    Square Feet
    10,129 SF
    Class
    B
    Lot Size
    135,472 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    2

    HighLights

    • Excellent location off I‑81, providing easy access to Salem, Roanoke, and Botetourt County.
    • Significant value‑add opportunity due to a nearby $87 million Wells Fargo expansion adding 1,100 jobs.
    • Attractive park‑like setting with mountain views.
    • 10,129 SF, two‑story Class B office building built in 1998, formerly the Hollins Communications Research Institute.
    • Ideal for owner‑occupants or investors; flexible layout suitable for multiple tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollins
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9583307
    Latitude
    37.3541145

    Nearby Comparable

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      Roanoke Office Building with Views

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      Prime Hollins Commercial Land

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    • $650,000
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      Redevelopment Opportunity Near Interstate 81

      Redevelopment opportunity with 10,889 square feet of space.
      8118 Plantation Rd, Roanoke, VA 24019
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    • $595,000
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      Retail Properties on Corner Lot

      Two retail properties on a corner lot with high visibility.
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    Nearby Similar for Sale

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      Hollins Retail Opportunity on Corner

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      Hollins Office Building For Sale

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      View Details

    FAQs

    What type of property is this?
    Medical office - 10,129 SF Office Building, Value-Add Opportunity
    Where is this medical office located?
    The property is located at 7857 Enon Dr Hollins, VA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Excellent location off I-81, providing easy access to Salem, Roanoke, and Botetourt County.; Significant value-add opportunity due to a nearby $87 million Wells Fargo expansion adding 1,100 jobs.; Attractive park-like setting with mountain views.
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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
    7857 Enon Dr Hollins, VA 24019
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