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Property profile & analytics

40 Main St Boones Mill, VA 24065

  • Banks
  • 4,554 SF
  • 0.31 lot acres
OFF-MARKET
Value Estimation
$240,000
Last Sale
Dec 15, 2021
$225,000
Location Intelligence
Property ID
US87-1428793
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

  • 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

by Realmo proprietary methodology Last update: July 3, 2025
  • 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

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
0
$0.00
$80,000
$326,400
$406,400
-
$80,000
$326,400
$406,400
More about this property
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