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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1960 Electric Rd Roanoke, VA 24018-1601

    • Industrial properties
    • 7,117 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $1,480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0150084
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Eye Care and Surgery / Physician
    • Eye Care & Surgery: Miller Daniel S MD / Ophthalmologist
    • Eye Care & Surgery PC: Coolbaugh Kevin T OD / Physician
    • Blue Ridge Optical / (Bike/Boat/Book/etc) Store
    • William M. Thompson, M.D. / Ophthalmologist

    Property Details for 1960 Electric Rd

    Year built
    1991
    Construction
    WOOD
    Lot size
    0.53 lot acres
    Property size
    7,117 SF
    Zone code
    CN
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    509-0208
    APU
    5090208

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,475,000
      6.5%
      $1,360,000
      7%
      $1,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,725,000
      Market price range: $753k - $1.73M
      AI Estimate
      $1,360,000
      Market price range: $341k - $1.36M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,220,000
      Current use
      MEDICAL BUILDING
      $1,410,000
      Change: +15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke City
    State
    Virginia
    Longitude
    -80.0331
    Latitude
    37.2477
    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
    $18,749
    $410,800
    $1,086,200
    $1,497,000
    -
    $410,800
    $1,086,200
    $1,497,000

    Comparable in this City

    • Value Estimation
      $735,000
      6.29 Acres

      3365 Ogden Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 6.29 Acres
      3365 Ogden Rd, Roanoke, VA 24018-1151
      View Details
    • Value Estimation by Request
      1.04 Acres

      3580 Keagy SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.04 Acres
      3580 Keagy SW Rd, Roanoke, VA 24018-1152
      View Details
    • Value Estimation
      $10,200,000
      67,253 SF

      4951 Grandin SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 67,253 SF
      4951 Grandin SW Rd, Roanoke, VA 24018
      View Details
    • Value Estimation
      $3,170,000
      44,451 SF

      3488 Aerial Way SW Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 44,451 SF
      3488 Aerial Way SW Dr, Roanoke, VA 24018-1504
      View Details
    • Value Estimation
      $4,145,000
      35,192 SF

      3801 Blue Rdg SW Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 35,192 SF
      3801 Blue Rdg SW Dr, Roanoke, VA 24018-1553
      View Details
    • Value Estimation
      $1,600,000
      1,660 SF

      3830 Blue Rdg SW Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,660 SF
      3830 Blue Rdg SW Dr, Roanoke, VA 24018-1551
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,200 SF

      Roanoke Industrial Property For Sale

      5,200 SF industrial property available in Roanoke, Virginia.
      1715 Murry Rd SW, Roanoke, VA 24018
      View Details
    • $45,600
      0.91 Acres

      Roanoke Residential Land For Sale

      0.91 acre residential lot approved for septic and utilities.
      7232 Carriage Hills Dr, Roanoke, VA 24018
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    • Contact for pricing

      High Profile Corner Commercial Land

      1.39 acre corner lot in Roanoke, C-1 zoning.
      SE Cor Of Brambleton Ave & Ranchcrest Dr, Cave Spring, VA 24018
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    • $45,600
      0.81 Acres

      Roanoke Land Parcel For Sale

      0.81 acre lot approved for septic and utilities.
      7248 Carriage Hills Dr, Roanoke, VA 24018
      View Details
    • $475,000
      0.81 Acres

      Roanoke Industrial Property - 5,200 SF

      Warehouse & Office - Ideal Location
      1715 Murry Rd, Roanoke, VA 24018
      View Details
    • Contact for pricing
      3,250 SF

      Roanoke City Commercial Property

      Centrally located commercial property with high visibility and traffic.
      4002 Brandon Ave SW, Roanoke, VA 24018
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      811,270 SF

      Tanglewood Mall Medical Office Space

      Prime Medical Office Space in Roanoke, VA. Multiple suites available.
      4420 Electric Rd, Cave Spring, VA 24018
      View Details
    • $12 SF/Yr
      4,016 SF

      Retail Showroom with Warehouse Space

      4,016 SF building with showroom and warehouse for lease.
      3719 Brambleton Ave, Roanoke, VA 24018
      View Details
    • $7 SF/Yr
      24,375 SF

      Heated/Cooled Flex/Office Space Available

      5,264 SF flex/office space for lease in Roanoke County.
      5205 Starkey Rd, Roanoke, VA 24018
      View Details
    • $1,700 /Mo
      2,500 SF

      Office/Warehouse Space For Rent

      2,500 SF office/warehouse unit with versatile space.
      1807 Murry Rd SW, Roanoke, VA 24018
      View Details
    • $7 SF/Yr
      4,700 SF

      Flex/Office Space Available

      12,800 SF flex/office space with insulated room.
      5205 Starkey Rd, Roanoke, VA 24018
      View Details
    • Contact for pricing
      80,163 SF

      Southwest Plaza Retail Center

      Roanoke, VA Strip Center - 8 Spaces Available
      2022 Electric Rd, Roanoke, VA 24018
      View Details
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    1960 Electric Rd
    Roanoke, VA 24018-1601
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    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
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