40 Main St Boones Mill, VA 24065
- Banks
- 4,554 SF
- 0.31 lot acres
Current Use by Public Records
- BB&T Insurance Services / Insurance Agency
Property Details for 40 Main St
- Year built
- 1920
- Lot size
- 0.31 lot acres
- Property size
- 4,554 SF
- Zone code
- NZ
- Property type
- Banks
- APN
- 302 00-012 00
- APU
- 3020001200
Description
This exceptional 9,750 square foot commercial building, situated on 0.33 acres in Boones Mill, VA, presents a unique investment opportunity. Built in 1925 and extensively renovated in 2022, this Class A property boasts a single-tenant layout with 5,000 square feet currently vacant. The building features a 14-foot ceiling height, 35 total parking spaces, and is conveniently located on Main Street, near the intersection of Boone Street, with high visibility due to its proximity to Route 220. The property's zoning allows for commercial or residential use, offering flexibility for a variety of businesses or adaptive reuse. The building includes a central air conditioning and heating system, and offers various sized spaces for lease, including a large retail space (approximately 5,000 sq ft), multiple office spaces ranging from small to large, and even a former drive-through. Amenities include a kitchen, two bathrooms, a utility room, and storage space. The property's location in the City of Roanoke submarket, near Rocky Mount, ensures high traffic volume and excellent accessibility. Property taxes are $0.50 per square foot. The building's former use as a BB&T bank adds to its unique character and potential. This is an ideal opportunity for a business seeking a prominent location with ample space and parking. The property is available for lease or purchase.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $235,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $235,000
- 6.5%
- $205,000
- 7%
- $245,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $260,000
- Geo Method
- $240,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $235,000
- Retail
- $230,000
- Mixed-Use
- $215,000
- Hospitality
- $260,000
- Educational
- $260,000
- Residential Income
- $230,000
- Energy
- $250,000
- Income-Based Land
- $245,000
- Food Service
- $220,000
Location Insight
- Map
- Local Demand
- City
- Boones Mill
- County
- Franklin
- State
- Virginia
- Longitude
- -79.9536
- Latitude
- 37.1149
- CBSA code
- 40220
- CBSA name
- ROANOKE, VA METROPOLITAN STATISTICAL AREA