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

    3100 Peters Creek Rd Roanoke, VA 24019

    • Strip malls
    • 16,040 SF
    • 1.56 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0752749
    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

    • Clip Joint Barber Shop / Barber Shop
    • Hermitage Automation & Control / Building Supply / Electrical Service
    • Wilson Insurance & Financial Services / Corporate Office
    • Tharp Funeral Home & Crematory / Social Service Agency

    Property Details for 3100 Peters Creek Rd

    Year built
    1975
    Lot size
    1.56 lot acres
    Property size
    16,040 SF
    Zone code
    C2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    037.14-01-49
    APU
    37140149

    Description

    North Roanoke Plaza offers exceptional office space in Roanoke County. This multi-tenant property features a variety of suite sizes, ranging from a comfortable 455 square feet to a spacious 1,000 square feet, perfect for businesses of all sizes. The building is ideally suited for a range of office uses, including medical, traditional, and creative office spaces. The flexible layout allows for customization to meet individual business needs. The property's location in Roanoke County provides convenient access to major transportation routes and amenities, making it an attractive option for businesses seeking a strategic location. Four spaces are currently available, presenting a unique opportunity for businesses looking to establish or expand their presence in a thriving area. The property type encompasses retail, office, and restaurant possibilities, offering versatility and potential for synergistic partnerships within the building. The multiple tenancy structure fosters a collaborative and dynamic environment. Interested parties are encouraged to inquire about available spaces and lease terms. This is a prime opportunity to secure high-quality office space in a desirable location. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -80.0003
    Latitude
    37.3204
    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
    $10,469
    $375,400
    $631,200
    $1,006,600
    -
    $375,400
    $631,200
    $1,006,600

    Comparable in this City

    • Value Estimation
      $980,000
      51,280 SF

      6619 Williamson Rd

      SHOPPING CENTER, STRIP CENTER • 51,280 SF
      6619 Williamson Rd, Roanoke, VA 24019-4658
      View Details
    • Value Estimation
      $1,195,000
      48,376 SF

      4812 Hollins Rd, Unit 4830

      SHOPPING CENTER, STRIP CENTER • 48,376 SF
      4812 Hollins Rd, Roanoke, VA 24019-5319
      View Details
    • Value Estimation
      $1,005,000
      35,545 SF

      7240 Williamson Rd, Unit 7234

      SHOPPING CENTER, STRIP CENTER • 35,545 SF
      7240 Williamson Rd, Roanoke, VA 24019-4264
      View Details
    • Value Estimation
      $765,000
      36,250 SF

      6449 Williamson Rd, Unit 6435

      SHOPPING CENTER, STRIP CENTER • 36,250 SF
      6449 Williamson Rd, Roanoke, VA 24019-4627
      View Details
    • Value Estimation by Request
      10,800 SF

      6419 Williamson Rd, Unit 6431

      SHOPPING CENTER, STRIP CENTER • 10,800 SF
      6419 Williamson Rd, Roanoke, VA 24019-4627
      View Details
    • Value Estimation by Request
      7,000 SF

      7416 Williamson Rd

      RESTAURANT • 7,000 SF
      7416 Williamson Rd, Roanoke, VA 24019-4239
      View Details

    Similar Nearby for Sale

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      Prime Roanoke development land, high traffic, flat parcel.
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    Similar Nearby for Lease

    • $25 SF/Yr
      1,825 SF

      Retail Space in High-Growth Area

      Retail space available in a high-visibility, growing location.
      7000 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • $14 SF/Yr
      875 SF

      North Roanoke Plaza Retail/Office Space

      Retail and office spaces available in North Roanoke Plaza.
      3100 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • $13 SF/Yr
      3,037 SF

      Woodhaven Office Park: Prime Roanoke Space

      Class A Office Suites, North Roanoke, VA
      5430 Peters Crk Rd, Hollins, VA 24019
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    • $12 SF/Yr
      3,800 SF

      Roanoke County Office Space Available

      Office suites for lease on Electric Road with ample parking.
      7535 Williamson Rd, Roanoke, VA 24019
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    • $13 SF/Yr
      1,834 SF

      Roanoke Office Space For Rent

      Office space for rent with easy access to highways.
      6711 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • $14 SF/Yr
      2,810 SF

      Office and Warehouse Space Available

      Modern office and functional warehouse space for rent.
      6742-6746 Thirlane Rd, Roanoke, VA 24019
      View Details
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    Roanoke, VA 24019
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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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