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    5347 Franklin Rd Roanoke, VA 24014
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    5347 Franklin Rd, Roanoke, VA 24014

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    • Commercial real estate
    • 1.00 lot acres
    For Sale
    $595,000
    View Listing →
    Commercial Land Near Walmart For Sale
    $595,000
    1.00 Acre

    Commercial Land Near Walmart

    One acre of commercial land with drive-thru potential.

    5347 Franklin Rd, Roanoke, VA
    View Listing
    Property ID
    US87-2833020
    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 real estate

    Property Details for 5347 Franklin Rd

    Lot size
    1.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1-acre commercial land parcel presents a remarkable investment opportunity in Roanoke, Virginia. Strategically located along the highly trafficked US Route 220/Franklin Road, this property boasts exceptional visibility and accessibility. The C-2 zoning permits a wide range of commercial uses, including drive-thru establishments, making it ideal for a variety of businesses. Situated directly across from a Walmart Supercenter at a signalized intersection, this location ensures high traffic counts and significant exposure. The property offers convenient access from both US Route 220 and Indian Grave Road SW. Detailed traffic counts reveal 28,000 AADT on US Route 220/Franklin Road and 1,200 AADT on Indian Grave Road SW, underscoring the substantial potential for commercial success. The asking price for this prime commercial land is $595,000. This is a rare opportunity to acquire a highly visible and well-located parcel in a thriving commercial area of Roanoke, Virginia, with the potential for significant return on investment. The property's address is 5347 Franklin Road, Roanoke, VA 24014, and is located within Roanoke County.

    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
    Roanoke
    State
    Virginia
    Longitude
    -79.9489847
    Latitude
    37.2015244

    Comparable in this City

    • Contact for pricing

      Commercial Land Parcel For Sale

      1.55 acre commercial land parcel for sale.
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      Residential Land in Roanoke, VA

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      Prime Commercial Development Opportunity

      4.36 acres of mixed-use land for commercial development.
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      Commercial Land Near Shopping Center

      Two parcels totaling 2.26 acres near Bennington Place.
      1602 Rutrough Rd SE, Roanoke, VA 24014
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      Commercial Land Near Walmart

      One acre of commercial land with drive-thru potential.
      5347 Franklin Rd, Roanoke, VA 24014
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Parcel For Sale

      1.55 acre commercial land parcel for sale.
      3914 Franklin Rd, Roanoke, VA 24014
      View Details
    • $209,000
      1.17 Acres

      Ballyhack Golf Community Land

      1.17-acre lot in gated golf community with mountain views.
      3625 Bally Hack Trl, Roanoke, VA 24014
      View Details
    • $55,000
      0.96 Acres

      Residential Land in Roanoke, VA

      0.95-acre parcel ready for development with city utilities.
      Yellow Mountain Rd SE, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Prime Commercial Development Opportunity

      4.36 acres of mixed-use land for commercial development.
      4402 Old Rocky Mount Rd, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Commercial Land Near Shopping Center

      Two parcels totaling 2.26 acres near Bennington Place.
      1602 Rutrough Rd SE, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Commercial Land Near Walmart

      One acre of commercial land with drive-thru potential.
      5347 Franklin Rd, Roanoke, VA 24014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,685 SF

      Retail Space in Roanoke

      Retail space with high visibility and strong national retailers.
      4208-4210 Franklin Rd, Roanoke, VA 24014
      View Details
    • Contact for pricing
      458 SF

      Office Space For Rent

      Office space available for lease with included utilities.
      1942 Franklin Rd SW, Roanoke, VA 24014
      View Details
    • Contact for pricing
      10,923 SF

      Prime Commercial Space in Roanoke

      Modern, versatile office space in Roanoke's Innovation Corridor.
      2727 Franklin Rd, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office spaces available, ranging from 517 to 4,716 SqFt.
      1948 Franklin Rd SW, Roanoke, VA 24014
      View Details
    • $15 SF/Yr

      Bank-Converted Office Building

      Converted for office or medical use with renovated second-floor space and on-site parking for convenient access.
      301 Mc Clanahan St SW, Roanoke, VA 24014
      View Details
    View Listing
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    Roanoke, VA 24014
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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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