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    4160 Melrose Ave Roanoke, VA 24017

    For Sale
    Contact for pricing

    8,316 SF Vacant Storefront, High Visibility

    Property size:
    8,316 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 8,316-square-foot retail storefront, a former Family Dollar, presents a remarkable investment opportunity in Roanoke, Virginia. Built in 2013, the property boasts a prototypical floor plan (120' x 70') and is situated on a 0.84-acre lot with excellent visibility along a busy retail corridor. Located just west of the intersection of Melrose Ave NW and Peters Creek Blvd, the property benefits from its proximity to the Roanoke Country Club, Hershberger Ave (connecting to Interstate 581 and Valley View Mall), and enjoys 180 feet of frontage along Melrose Ave NW. The site offers convenient access via Melrose Ave NW and easy movement through a lighted intersection within the Roanoke-Salem Business Center parking lot. The property includes 31 parking spaces and on-site utilities. The building is zoned Commercial-General (CG), providing flexibility for a variety of retail uses. This vacant space is available for sale or lease and represents a strong opportunity for owner-users or investors seeking a high-traffic location in a thriving area of Roanoke. The property's size and location make it ideal for a variety of retail businesses.

    Property Features for 4160 Melrose Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,316 SF

    Building Details

    Year Built
    2013
    Stories
    1
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -80.0064595
    Latitude
    37.296391

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    FAQs

    What type of property is this?
    Individual retail property - 8,316 SF Vacant Storefront, High Visibility
    Where is this individual retail property located?
    The property is located at 4160 Melrose Ave Roanoke, VA.
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    Roanoke, VA 24017
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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
    4160 Melrose Ave Roanoke, VA 24017
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