2213 Patterson AveRoanoke, VA 24016

Property Details for 2213 Patterson Ave

Year built

1953

Construction

TYPE NOT SPECIFIED

Lot size

0.16 AC

Property size (Sq ft)

6,500 SF

Zone code

I-1

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

131-2413

APU

1312413

Description

This exceptional 8,000-square-foot industrial property, situated on a 0.32-acre lot in Southwest Roanoke City, presents a unique leasing opportunity. The single-tenant building, constructed in 1956, offers a versatile layout ideal for warehouse, flex, distribution, or manufacturing uses. The space is currently vacant and comprises a warehouse area conveniently divided into two sections, providing both drive-in access (one drive-in) and two loading docks for efficient material handling. The office space includes eight individual offices, a reception area or potential showroom, and two restrooms, providing ample space for administrative functions. The property boasts ample parking for vehicles and equipment, ensuring convenient operations. Exterior painting is scheduled for October/November 2024, and the landlord will complete interior improvements including new carpeting before lease commencement. Benefitting from recent streetscape and road improvements, this location enjoys excellent proximity to Roanoke and Salem, with easy access to major transportation arteries and is surrounded by similar industrial properties. The property is zoned I-1 and features APN numbers 1312413 and 1312414. This is a prime opportunity to secure a well-located, functional industrial space with upcoming upgrades.

• CAP approach

  CAP return

  Valuation

  6%

  $884,277

  6.5%

  $816,255

  7%

  $757,951

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,278,850

  Geo Method

  $2,312,616

• Alternative Use

  Use

  Valuation

  Residential

  $816,255

  Hospitality

  $747,686

  Educational

  $622,066

  Medical

  $643,459

  Retail

  $967,658

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.276

Longitude

-79.9783

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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