15 Salem AveRoanoke, VA 24011

Property Details for 15 Salem Ave

Year built

1904

Construction

TYPE NOT SPECIFIED

Lot size

0.15 AC

Property size (Sq ft)

19,478 SF

Zone code

D

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

401-0311

APU

4010311

Description

This exceptional, renovated office building in the heart of downtown Roanoke offers two available suites totaling 1,330 to 3,599 square feet of versatile space. The building, classified as Class B, boasts attractive features including high ceilings, exposed brick walls, and an elevator for convenient access to all three floors. ADA-compliant restrooms are provided for accessibility. Suite 213 is immediately available, while Suite 300 will be ready for occupancy in January 2025. The property is zoned D and features a single building with multiple tenancies. Its central location places it within easy walking distance of Roanoke's vibrant entertainment district, museums, and acclaimed restaurants. The property's address is 15 Salem Ave SE, Roanoke, VA 24011, and its Assessor's Parcel Number (APN) is 4010311. The building is suitable for various office uses, including executive, coworking, traditional, creative, and medical offices. This is a unique opportunity to secure high-quality office space in a thriving downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,649,837

  6.5%

  $2,446,003

  7%

  $2,271,289

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,832,220

  Geo Method

  $6,930,019

• Alternative Use

  Use

  Valuation

  Residential

  $2,446,003

  Hospitality

  $2,240,526

  Educational

  $1,864,091

  Medical

  $1,928,200

  Retail

  $2,899,698

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.2722

Longitude

-79.9399

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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