501 Marshall AveRoanoke, VA 24016

  • Mixed-use properties
  • 8,980 SF
For Lease
$7.56/SF/YR View listing

Property Details for 501 Marshall Ave

Year built
1935
Construction
TYPE NOT SPECIFIED
Lot size
0.22 AC
Property size (Sq ft)
8,980 SF
Zone code
D
Property type
Mixed-use properties
Property subtype
Other industrial properties
APN
111-3531
APU
1113531

Description

This 8,980 square foot industrial flex space, located at 501 Marshall Ave SW, Roanoke, VA 24016, offers a single, 2,507 square foot vacant suite ideal for various uses. Built in 1935 and extensively renovated in 2022, the property features one drive-in door (9.5'h x 14'w) leading to a 1,705.5 square foot warehouse area with a gas-powered heater (installed 2024) and a bathroom. A 698 square foot workshop area is also included, equipped with a mini-split system (installed 2024), plus a small 103 square foot mezzanine. The property boasts 200 amp single-phase power and water is included in the lease. Conveniently located in Roanoke's West End, it offers easy access to major roadways, including I-581 at Franklin and I-581 at Campbell. The property is ready for immediate occupancy. This single-story building sits on one lot and has no on-site parking.

Valuation
by Realmo methods

Valuation date:
Dec 11, 2024

  • CAP approach

    CAP return
    Valuation
    6%
    $1,221,662
    6.5%
    $1,127,688
    7%
    $1,047,139

  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,766,780
    Geo Method
    $3,194,967

  • Alternative Use

    Use
    Valuation
    Residential
    $1,127,688
    Hospitality
    $1,032,956
    Educational
    $859,408
    Medical
    $888,964
    Retail
    $1,336,856
501 Marshall Ave, Roanoke, Virginia
+−
Leaflet | © OpenStreetMap contributors

Location Insight

City
Roanoke
County
Roanoke City
State
Virginia
Latitude
37.2691
Longitude
-79.9505
CBSA code
40220
CBSA name
ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$4,627
$52,400
$263,700
$316,100
-
$52,400
$263,700
$316,100

Comparable in this City

Similar Nearby for Sale

Similar Nearby for Lease

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501 Marshall Ave, Roanoke, Virginia, 24016

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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