20 Roanoke St Fincastle, VA 24090-3102

Property Details for 20 Roanoke St

Lot size

0.43 lot acres

Zone code

T

Property type

Commercial real estate

APN

73A(1)110C

APU

73A1110C

Description

This exceptional investment opportunity presents a fully leased, mixed-use building situated at 20 S Roanoke St, Fincastle, VA 24090. The 15,000 square foot property, built in 1900 and renovated in 2002, boasts a prime location in downtown Fincastle and is currently 100% occupied. The building comprises a three-story structure with one building and features two residential units located at the parking level. Tenants include the Commonwealth of Virginia and Microharmonics Corp., both credit-rated, under a modified lease type with a remaining term of five years, expiring November 30, 2029. The property's strong financial performance is reflected in its current NOI of $216,978, resulting in a 7.76% cap rate. The stabilized investment offers a compelling pro-forma cap rate of 7.76% and a price per square foot of $186.33. The property is zoned for Town of Fincastle use and has an APN of 73A(1)118&119A. This rare opportunity offers a blend of historical charm and modern functionality, making it an ideal addition to any investment portfolio. The building's strong tenancy and long-term leases provide exceptional stability and predictable cash flow. This is a truly unique opportunity to acquire a high-performing asset in a desirable location.