Technical
Financial
Distress signals
Property profile

2203 Franklin Rd Roanoke, VA 24014

OFF-MARKET
Retail properties & Spaces
31,073 SF 3 ac lot
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Property summary

AI-generated overview

This exceptional 31,073 square foot retail center in Roanoke, Virginia, presents a compelling investment opportunity. Located at 2203 Franklin Rd SW, Roanoke, VA 24014, this property boasts a prime location with high visibility and accessibility. The center features three tenants: Earth Fare, First Watch, and Taziki's, occupying the entire 3-acre lot (APN: 1150106). The property benefits from excellent traffic counts, with frontage on Franklin Road SW (18,000 vehicles per day) and access from Wonju Street (16,100 vehicles per day) and Hwy 220 (66,400 vehicles per day). Five points of ingress/egress and a traffic signal at the main entrance ensure convenient access for customers. The anchor tenant, Earth Fare, has a lease extending through 2030 with four five-year renewal options, providing long-term stability and predictable income. The property's strategic location is further enhanced by its proximity to a high-traffic medical facility, Carilion Clinic Orthopedic Surgery, which occupies a neighboring 227,291 square foot building and sees over 500 patients daily. A high-performing Mellow Mushroom restaurant is located on an adjacent outparcel. This well-positioned, fully occupied retail center offers a strong investment opportunity with significant long-term potential.

Property profile

Verified
Property type Retail properties & Spaces
Total area 31,073 SF
Lot 3 ac (130,680 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Specialty Food Shop
  • Radio Station Telecommunications Service
  • Shopping Center & Mall
  • Electric Vehicle Charging Station

Location

2203 Franklin Rd Roanoke, VA 24014
Roanoke metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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