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    3731 Shenandoah Ave NW Roanoke, VA 24017
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    3731 Shenandoah Ave NW Roanoke, VA 24017

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    • Commercial land
    For Sale
    $400,000
    View Listing →
    5.17 Acres Commercial Land ForSale For Sale
    $400,000
    5.17 Acres

    5.17 Acres Commercial Land ForSale

    5.17 acres of commercial land for sale.

    3731 Shenandoah Ave NW, Roanoke, VA 24017
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    Property ID
    US87-1284061
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 3731 Shenandoah Ave NW

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    For Sale. Approximately 5.17 acres currently zoned R-7. Property consists of four Roanoke City tax parcels. Frontage on Shenandoah Avenue and Old Stevens Road NW. Cleared and mostly level parcels. Water and sewer available on Shenandoah Avenue. Commercial potential. Being sold “as is where is.” Located less than a mile to Peters Creek Road intersection.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Salem
    State
    Virginia
    Longitude
    -80.0010361
    Latitude
    37.2814443

    Comparable in this City

    • $495,000
      Pending

      Roanoke Commercial Land For Sale

      Commercial land with road frontage in Roanoke, Virginia.
      4509 Melrose Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Commercial Land Parcels Available

      Two commercial land parcels available for development.
      Cove Rd, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Land Parcels Adjacent to Home Depot

      Parcels near Home Depot suitable for retail and hospitality.
      3217 Hershberger Rd, Roanoke, VA 24017
      View Details
    • $44,950
      0.19 Acres

      Level Lot in Roanoke, VA

      Level 0.19 acre lot with public utilities available.
      Swarthmore Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Retail Outparcels Near Home Depot

      Available retail outparcels adjacent to Home Depot.
      3113 Hershberger Rd NW, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Retail Outparcels Near Home Depot

      Available retail outparcels near I-581 and Home Depot.
      3217 Hershberger Rd, Roanoke, VA 24017
      View Details

    Similar Nearby for Sale

    • $44,950
      0.19 Acres

      Level Lot in Roanoke, VA

      Level 0.19 acre lot with public utilities available.
      Swarthmore Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Retail Outparcels Near Home Depot

      Available retail outparcels adjacent to Home Depot.
      3113 Hershberger Rd NW, Roanoke, VA 24017
      View Details
    • $3,100,000

      Valley View Boulevard Development Opportunity

      2.3-acre commercial parcel in a high-traffic retail corridor.
      4824 Valley View Blvd Northwest, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Retail Outparcels Near Home Depot

      Available retail outparcels near I-581 and Home Depot.
      3217 Hershberger Rd, Roanoke, VA 24017
      View Details
    • Contact for pricing

      16.86 Acres on Peters Creek

      16.86 acres with 629 FT of Peters Creek Road frontage.
      Peters Creek Rd NW, Roanoke, VA 24017
      View Details
    • $495,000
      Pending

      Roanoke Commercial Land For Sale

      Commercial land with road frontage in Roanoke, Virginia.
      4509 Melrose Ave NW, Roanoke, VA 24017
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land on Orange Avenue

      Two commercial land plots available for lease on Orange Avenue.
      1106 Orange Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing

      Retail Strip Center For Lease

      Retail strip center with long-term tenants and ample parking.
      631 Peters Creek Rd, Roanoke, VA 24017
      View Details
    • Contact for pricing
      5,500 SF

      Office/Industrial Space for Lease

      5,500 SF office/industrial space suitable for various uses.
      3361 Melrose Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing
      12,500 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for rent, close to the airport.
      3125 Salem Tpke NW, Roanoke, VA 24017
      View Details
    • Contact for pricing
      43,700 SF

      Spacious Commercial Warehouse for Rent

      43,700 SqFt warehouse space suitable for storage, distribution, manufacturing.
      3342 Melrose Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing
      11,000 SF

      Roanoke Warehouse Space Available

      11,000 sq ft warehouse space for lease.
      1512 Centre Ave NW, Roanoke, VA 24017
      View Details
    View Listing
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    Roanoke, VA 24017
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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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    3731 Shenandoah Ave NW, Roanoke, VA, 24017
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