Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    408 Jefferson St Roanoke, VA 24011
    Back to Search
    Property profile & analytics

    408 Jefferson St, Roanoke, VA 24011

    View on Map
    • Retail properties & Spaces
    • 0.17 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 408 Jefferson St

    Year built
    1925
    Lot size
    0.17 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 1,750 square foot retail storefront at 408 S Jefferson St in Roanoke, Virginia, presents a compelling investment opportunity. Built in 1925, this single-tenant property sits on a 0.171-acre lot and is zoned D. The building is a single-story structure offering ample space for a variety of retail uses. Its prime downtown Roanoke location ensures high visibility and foot traffic, benefiting from the proximity to popular establishments such as Well Hung Vineyard and Mast General Store. The vibrant atmosphere of downtown Roanoke, with its diverse mix of restaurants and retail stores, attracts a broad customer base. This property's strategic positioning within this bustling area offers significant potential for growth and success. The property's APN is 4011701. This is a single-tenant space, ideal for a business seeking a strong presence in a thriving urban environment. The property's historical charm, combined with its modern-day appeal, makes it an attractive option for discerning entrepreneurs. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9405
    Latitude
    37.2704

    Comparable in this City

    • Value Estimation by Request
      30,000 SF

      32 Market Sq

      Restaurants
      32 Market Sq, Roanoke, VA 24011
      View Details
    • Value Estimation by Request
      43,810 SF

      30 Franklin Rd

      Retail properties & Spaces
      30 Franklin Rd, Roanoke, VA 24011
      View Details
    • Value Estimation by Request
      0.06 Acres

      Church SE Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      Church SE Ave, Roanoke, VA 24011
      View Details
    • Value Estimation by Request
      0.11 Acres

      30 Church SW Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      30 Church SW Ave, Roanoke, VA 24011-2002
      View Details
    • Value Estimation by Request
      0.06 Acres

      Kirk SE Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      Kirk SE Ave, Roanoke, VA 24011
      View Details
    • Value Estimation by Request
      0.08 Acres

      Kirk SW Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      Kirk SW Ave, Roanoke, VA 24011
      View Details

    Similar Nearby for Sale

    • $779,000

      Historic Roanoke Retail/Restaurant Opportunity

      Renovated 4,000 SF property in Roanoke's historic market district.
      19 Salem Ave SE, Roanoke, VA 24011
      View Details
    • Contact for pricing
      4,474 SF

      Downtown Roanoke Mixed-Use Opportunity

      Former florist building with live-work potential in downtown Roanoke.
      21 Church Ave SW, Roanoke, VA 24011
      View Details
    • Contact for pricing
      6,701 SF

      Historic Downtown Roanoke Building

      Historic building suitable for office, retail, or multi-family use.
      30 Campbell Ave SW, Roanoke, VA 24011
      View Details
    • New
      $799,000
      4,400 SF

      Downtown Roanoke Mixed-Use Building

      Two-unit building in vibrant downtown Roanoke with retail and residential.
      22 Campbell Ave SE, Roanoke, VA 24011
      View Details
    • $525,000

      Downtown Roanoke Mixed-Use Potential

      Two-story building suitable for office, retail, or multifamily redevelopment.
      9 Franklin Rd SW, Roanoke, VA 24011
      View Details
    • $650,000

      Downtown Roanoke Mixed-Use Investment

      Mixed-use property in downtown Roanoke with value-add potential.
      23 Salem Ave SE, Roanoke, VA 24011
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Downtown Retail Space For Rent

      Retail space in downtown Roanoke, near amenities and transportation.
      35-37 Campbell Ave SW, Roanoke, VA 24011
      View Details
    • Contact for pricing
      1,750 SF

      Downtown Roanoke Retail Space Available

      Prime retail space in vibrant downtown Roanoke with heavy foot traffic.
      402-408 S Jefferson St, Roanoke, VA 24011
      View Details
    • Contact for pricing
      2,508 SF

      Premium Downtown Roanoke Retail/Office Space

      2,508 SF premium ground-level space in downtown Roanoke.
      108 Campbell Ave - SW, Roanoke, VA 24011
      View Details
    • Contact for pricing

      Downtown Roanoke Storefront Opportunity

      Versatile street-level storefront in Downtown Roanoke, available July 2026.
      22 Campbell Ave SE, Roanoke, VA 24011
      View Details
    • Contact for pricing
      1,324 SF

      Downtown Retail/Office Space Available

      Window-lined retail/office space in downtown Roanoke.
      401 S Jefferson St, Roanoke, VA 24011
      View Details
    • Contact for pricing
      5,000 SF

      Renovated Downtown Roanoke Event Space

      5,000 SF event space in a mixed-use building.
      312 2Nd St SW, Roanoke, VA 24011
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    408 Jefferson St
    Roanoke, VA 24011
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    408 Jefferson St, Roanoke, VA, 24011
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!