1603 Franklin SW Rd Roanoke, VA 24016-5208
- Industrial properties
- 5,632 SF
- 0.37 lot acres
Current Use by Public Records
- Balance Wellspace Integrative Medicine / Physical Therapy Clinic / Medical Clinic
- Blue Ridge Wound Care / Medical Clinic
- Evers Gregory W DO / Doctor
Property Details for 1603 Franklin SW Rd
- Year built
- 1962
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.37 lot acres
- Property size
- 5,632 SF
- Zone code
- MX
- Property type
- Industrial properties
- Property subtype
- Industrial live-work properties
- APN
- 103-1107
- APU
- 1031107
Description
This exceptional Class A office building, located at 1603 Franklin Rd SW, Roanoke, VA 24016, offers 5,194 square feet of meticulously renovated space. Built in 1962 and completely renovated in 2021-2022, the property boasts a new roof, HVAC system, 600-amp electrical service, and updated plumbing. High-quality finishes include LVP flooring, Scuffmaster paint, and new windows, doors, and cabinetry. The main level, fully ADA compliant, comprises 4,076 square feet of flexible space, including open areas, private offices, and collaboration zones. A second-floor suite of 1,118 square feet offers walk-out roof access, a three-fixture restroom, and potential for residential or live/work conversion. The 0.37-acre lot includes ample on-site parking for 18 vehicles, a circular drive, and excellent visibility from US 220/I-581 South and US 200 South. The property is zoned MX and features a single tenancy. Asking price is $1,345,000 ($258.95/sq ft). This prime location at the southern edge of the Old Southwest office district offers easy access to downtown Roanoke and Carilion facilities.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,220,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,150,000
- 6.5%
- $1,150,000
- 7%
- $1,215,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,145,000
- Geo Method
- $1,005,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,070,000
- Retail
- $1,255,000
- Mixed-Use
- $975,000
- Hospitality
- $1,045,000
- Educational
- $1,230,000
- Residential Income
- $1,165,000
- Energy
- $1,250,000
- Income-Based Land
- $1,020,000
- Food Service
- $1,255,000
Location Insight
- Map
- Local Demand
- City
- Roanoke
- County
- Roanoke City
- State
- Virginia
- Longitude
- -79.9474
- Latitude
- 37.2596
- CBSA code
- 40220
- CBSA name
- ROANOKE, VA METROPOLITAN STATISTICAL AREA
