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

    2502 Broadway SW Ave Roanoke, VA 24014-1663

    • Industrial properties
    • 4,000 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1092393
    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

    • Body Sense / Alternative Medicine Practice / Spa & Massage Center
    • Dr. Eric M. Surat, DDS / Dental Office
    • Spero Health / Medical Clinic
    • Upstretch Pilates / Gym & Fitness Center

    Property Details for 2502 Broadway SW Ave

    Year built
    1973
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.38 lot acres
    Property size
    4,000 SF
    Zone code
    CN
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    116-0109
    APU
    1160109

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $830,000
      6.5%
      $765,000
      7%
      $710,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $746,000
      Market price range: $204k - $747k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $830,000
      Current use
      MEDICAL BUILDING
      $790,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke City
    State
    Virginia
    Longitude
    -79.9558
    Latitude
    37.249
    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
    $12,066
    $245,800
    $690,000
    $935,800
    -
    $245,800
    $690,000
    $935,800

    Comparable in this City

    • Value Estimation
      $7,825,000
      48,933 SF

      2013 Jefferson SW St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 48,933 SF
      2013 Jefferson SW St, Roanoke, VA 24014-2419
      View Details
    • Value Estimation
      $1,560,000
      13,656 SF

      3902 Franklin SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,656 SF
      3902 Franklin SW Rd, Roanoke, VA 24014-3048
      View Details
    • Value Estimation
      $12,490,000
      61,198 SF

      2823 Franklin SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 61,198 SF
      2823 Franklin SW Rd, Roanoke, VA 24014-1027
      View Details
    • Value Estimation
      $10,415,000
      59,641 SF

      2331 Franklin SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 59,641 SF
      2331 Franklin SW Rd, Roanoke, VA 24014-1111
      View Details
    • Value Estimation
      $1,205,000
      6,465 SF

      4380 Franklin SW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 6,465 SF
      4380 Franklin SW Rd, Roanoke, VA 24014-5233
      View Details
    • Value Estimation
      $6,865,000
      38,958 SF

      4355 Pheasant Rdg Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 38,958 SF
      4355 Pheasant Rdg Rd, Roanoke, VA 24014-5272
      View Details

    Similar Nearby for Sale

    • $1,600,000
      22.41 Acres

      Roanoke Industrial Land - 22 Acres

      Prime Roanoke industrial land, I-2 zoning.
      0 Underhill Ave, Roanoke, VA 24014
      View Details
    • $980,000
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      Prime Roanoke Commercial Land

      4.36 acres, MX zoning, high traffic area
      4402 Old Rocky Mount Rd, Roanoke, VA 24014
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    • $550,000
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      Roanoke County Commercial Land

      2.71 Acres, Prime Location, C-2 Zoning
      5403 Clearbrook Ln, Roanoke, VA 24014
      View Details
    • $350,000
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      Roanoke Commercial Land - 2.26 Acres

      Prime Roanoke location, 2.26 acres, $350,000.
      1610 Rutrough Rd, Roanoke, VA 24014
      View Details
    • $595,000
      1.20 Acres

      Franklin Road Retail Development Site

      1.2-Acre C-2 Zoned Lot, High Visibility
      5436 Franklin Rd, Roanoke, VA 24014
      View Details
    • $1,950,000

      Roanoke Office Building For Sale

      Centrally located office building with CG zoning in Roanoke.
      1917 Franklin Rd, Roanoke, VA 24014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,685 SF

      Retail Space in Roanoke

      Retail space with high visibility and strong national retailers.
      4208-4210 Franklin Rd, Roanoke, VA 24014
      View Details
    • $14 SF/Yr
      7,000 SF

      Franklin Road Office Building

      7,000 sq ft Office, Ample Parking
      3902 Franklin Rd, Roanoke, VA 24014
      View Details
    • $750 /Mo
      515 SF

      Office Space For Rent

      Office space available for lease with included utilities.
      1942 Franklin Rd SW, Roanoke, VA 24014
      View Details
    • Contact for pricing
      12,385 SF

      Varsity Park Executive Office Suites

      Modern Office Space, Flexible Lease Terms
      1948 Franklin Rd, Roanoke, VA 24014
      View Details
    • $15 SF/Yr
      39,040 SF

      Roanoke Office Building: Prime Location

      Multiple Suites Available, 3-Story Building
      4419 Pheasant Ridge Rd, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Commercial Land in Roanoke

      Located in the retail trade area of South Roanoke.
      5360 Clearbrook Ln, Roanoke, VA 24014
      View Details
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    2502 Broadway SW Ave
    Roanoke, VA 24014-1663
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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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