Property profile

3555 Electric Rd Roanoke, VA 24018

FOR LEASE
Strip malls
Property ID
US87-3180131
25,724 SF 1.12 ac lot Built 2006
Entity Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

The Shoppes at West Village, located at 3555 Electric Rd SW, Roanoke, VA 24018, offers a unique opportunity for retail and restaurant businesses. This two-story, 71,631 square foot center, built in 2006, sits on a 2.4-acre lot and boasts 210 parking spaces. The property is zoned C2 and currently has 5,332 square feet of vacant space available, divisible into units as small as 1,545 square feet, with a maximum contiguous space of 3,787 square feet. The center is strategically located just over half a mile west of Tanglewood on Route 419, providing excellent access and egress. This vibrant shopping destination is situated in a high-demand area of Roanoke County, attracting a diverse clientele. Current tenants include a mix of fitness centers, boutiques, specialty retail stores, restaurants, financial institutions, and service businesses. The property presents a compelling investment opportunity for businesses seeking a prominent location within a thriving retail environment. The building features multiple tenancies, providing flexibility for various business models. This is an exceptional opportunity to establish or expand your business in a well-established and highly visible retail center.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2006
Total area 25,724 SF
Lot 1.12 ac (48,787 SF)
APN 077.18-05-02.04-0000
UPID US87-3180131

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Alternative Medicine Practice
  • Hair Salon
  • Tattoo & Piercing Shop
  • Tutoring Service
  • Ophthalmologist (Bike/Boat/Book/etc) Store

Location

3555 Electric Rd Roanoke, VA 24018
Roanoke metro Census 30803 ROANOKE, VA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$760k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.05M
Blend (final) Blend
$905k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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