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    1948 Franklin Rd Roanoke, VA 24014

    Sponsored
    For Lease
    Contact for pricing

    Modern Office Space, Flexible Lease Terms

    Lot size:
    12,385 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Varsity Park offers exceptional office space in a beautifully renovated (2022) two-story building totaling 12,385 square feet. Currently, 11,173 square feet is available, divisible into units as small as 640 square feet, with a maximum contiguous space of 4,716 square feet. The building features a 10-foot ceiling height and is equipped with 440 three-phase power. For tenant convenience, a passenger elevator is currently being installed. The first floor provides handicapped accessibility. The property is zoned commercial and conveniently located near Edinburg. Tenants share utility costs based on square footage. Landlords are open to tenant improvements for leases of three years or more, and lease rates are negotiable. This presents a fantastic opportunity for businesses seeking flexible, modern, and well-equipped office space in a prime location. Multiple tenancy options are available to accommodate various business needs.

    Property Features for 1948 Franklin Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,385 SF

    Building Details

    Year Renovated
    2022
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 2D
    Size
    640 SF
    Space
    2 nd Floor
    Size
    4,450 SF

    HighLights

    • Office building totaling 12,385 square feet.
    • Multiple tenancies available, ranging from 640 to 4,716 contiguous square feet.
    • 11,173 square feet currently vacant.
    • Recently renovated in 2022.
    • Two‑story building with 10‑foot ceilings.
    • Features 440 three‑phase power and an elevator (currently being installed).
    Property Profile Location Intelligence

    Current Use by Public Records

    Favor engineering, PLLC ... Structural Engineer Redefine Physical Therapy Physical Therapy Clinic Vitality Depot Medical Supply Store Appliance Studio Appliance Store Real Life Nutrition, ... Nutritionist

    Suggested Use

    Restaurant Realty agency 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
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9504877
    Latitude
    37.2534301

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    FAQs

    What type of property is this?
    Office Property / Space - Modern Office Space, Flexible Lease Terms
    Where is this office property / space located?
    The property is located at 1948 Franklin Rd Roanoke, VA.
    What are key features of this property?
    This property features: Office building totaling 12,385 square feet.; Multiple tenancies available, ranging from 640 to 4,716 contiguous square feet.; 11,173 square feet currently vacant.
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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
    1948 Franklin Rd Roanoke, VA 24014
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