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    4102 Electric Rd Roanoke, VA 24018
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    4102 Electric Rd, Roanoke, VA 24018

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    • Medical Office Space
    • 2,676 SF
    • 0.20 lot acres
    For Lease
    $28 SF/Yr
    View Listing →
    Office Space on Electric Road For Lease
    $28 SF/Yr
    2,732 SF

    Office Space on Electric Road

    Office space for rent with high visibility and parking.

    4102 Electric Rd, Roanoke, VA
    View Listing
    Property ID
    US87-0556534
    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
    $835,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mayerchak Michael J DDS / Dental Office
    • Dr. Robin E. Hinrichs, DDS / Dental Office
    • Dr. Edward M. O'keefe, DDS / Dental Office
    • Ms. Robin Bagby / Dental Office
    • Edward O'keefe / Dental Office

    Property Details for 4102 Electric Rd

    Year built
    1976
    Lot size
    0.20 lot acres
    Zone code
    C2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    077.19-01-13
    APU
    77190113

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 4, 2025 $830,000 Rth 21 INC 4102 Electric LLC Deed $560k · Mainstreet Bank
    Sep 28, 2023 $650,000 4102 Electric LLC Okeefe Properties LLC Deed $520k · Member One FCU

    Description

    This exceptional Class A, single-tenant office building, totaling 2,732 square feet, presents a remarkable opportunity for businesses seeking a prominent presence in Roanoke's thriving commercial sector. Situated on a 0.2-acre lot at 4102 Electric Road, this one-story building boasts unparalleled visibility along a high-traffic corridor (Route 419/Electric Road), experiencing 37,000 vehicles daily. The property features convenient on-site parking, ensuring effortless access for clients and employees. A prominent monument sign further enhances visibility and brand recognition. Currently fully vacant, this space is ideal for a variety of uses, including medical offices and retail establishments. The building's strategic location within a retail trade area characterized by low vacancy rates and high demand makes it an exceptionally attractive investment. The property's single-tenant occupancy simplifies management and provides a stable investment opportunity. This is a rare chance to secure a prime location on a busy thoroughfare, offering significant potential for growth and success. The building's design and location make it an ideal space for businesses seeking maximum exposure and accessibility. The property's APN is 077-19-01-13.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $825,000
      ML approach
      $850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $562,000
      Market price range: $326k - $653k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $530,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9814
    Latitude
    37.2261
    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
    $4,560
    $150,300
    $288,200
    $438,500
    -
    $150,300
    $288,200
    $438,500

    Comparable in this City

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    • Value Estimation by Request
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      2660 Electric Rd, Unit 101

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      27,260 SF

      4064 Postal Dr

      MEDICAL BUILDING
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      View Details
    • Value Estimation
      $550,000
      4,332 SF

      4519 Brambleton Ave, Unit 301

      MEDICAL BUILDING
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      View Details
    • Value Estimation
      $680,000
      5,678 SF

      5303 Indian Grave Rd

      MEDICAL BUILDING
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      View Details
    • Value Estimation by Request
      891 SF

      2660 Electric Rd, Unit 102

      MEDICAL BUILDING
      2660 Electric Rd, Roanoke, VA 24018-3532
      View Details

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      Electric Road Office Investment Opportunity

      Office suites in Roanoke's affluent neighborhood with high traffic counts.
      3247 Electric Rd, Roanoke, VA 24018
      View Details
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    Similar Nearby for Lease

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      Brambleton Ave Office Space For Lease

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    • $22 SF/Yr

      Brambleton Avenue Commercial Space Available

      1,700 SF space suitable for medical, office, or retail.
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      Class A Medical/Professional Office

      New Class A office space in Southwest Roanoke County.
      3090 Electric Rd, Cave Spring, VA 24018
      View Details
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      6,500 SF

      New Class A Office Space

      Newly constructed medical/professional office space for lease in Roanoke County.
      3090 Electric Rd, Roanoke, VA 24018
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      957 SF

      Professional Office Space For Lease

      Customizable office suites in affluent Roanoke neighborhood, recently renovated.
      3243 Electric Rd, Roanoke, VA 24018
      View Details
    • Contact for pricing
      1,912 SF

      Roanoke Office Space For Lease

      Ready-to-use office suites in a well-located Roanoke office park.
      3247 Electric Rd, Roanoke, VA 24018
      View Details
    View Listing
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    4102 Electric Rd
    Roanoke, VA 24018
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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.

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