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    5604 Starkey Rd Cave Spring, VA 24018
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    5604 Starkey Rd, Cave Spring, VA 24018

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    • Office Spaces
    • 4,151 SF
    • 0.59 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Office Suites in Roanoke County For Lease
    $15 SF/Yr
    2,112 SF

    Office Suites in Roanoke County

    Two office suites available for lease in Roanoke County.

    5604 Starkey Rd, Cave Spring, VA 24018
    View Listing
    Property ID
    US87-0705967
    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
    $810,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Skin Firm Aesthetics / Spa & Massage Center

    Property Details for 5604 Starkey Rd

    Year built
    1950
    Lot size
    0.59 lot acres
    Zone code
    C1
    Property type
    Office Spaces
    APN
    087.19-03-33
    APU
    87190333

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 8, 2022 $155,000 Caveness Properties LLC Jmm Commercial LLP Deed —
    Sep 8, 2022 — Jmm Commercial LLP — Deed · related $620k · Bank Of Botetourt
    Dec 1, 2004 $180,000 Caveness Properties LLC Russell,michael A Grant Deed —

    Description

    This single-story, 4,151 square foot Class B office building, situated on a 0.59-acre lot in Roanoke, Virginia, presents a fantastic opportunity. Built in 1950, the property features two suites, with 2,200 square feet currently vacant and ready for immediate occupancy. The building is zoned C-1 and boasts ample parking with 10 spaces available for tenants and guests. The address is 5604 Starkey Rd, Cave Spring, VA 24018. This executive office space offers a convenient location with easy access to local amenities. The property includes no elevators. The APN is 087.19-03-33.00-0000. This is an excellent opportunity for a business seeking a well-maintained office space in a desirable location. The property offers a blend of classic charm and modern functionality, making it an ideal choice for a variety of businesses. The spacious layout provides flexibility for customization to meet specific needs. Don't miss this chance to secure a prime office space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $995,000
      ML approach
      $1,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $758,000
      Market price range: $439k - $1.01M
      AI Estimate
      $550,000
      Market price range: $199k - $793k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $710,000
      Current use
      MEDICAL BUILDING
      $820,000
      Change: +15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9891
    Latitude
    37.206
    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
    $5,562
    $128,500
    $406,300
    $534,800
    -
    $128,500
    $406,300
    $534,800

    Comparable in this City

    • Value Estimation
      $3,360,000
      40,728 SF

      5115 Bernard Dr

      OFFICE (GENERAL)
      5115 Bernard Dr, Roanoke, VA 24018-4357
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    • Value Estimation by Request
      1,316 SF

      3640 Brambleton Ave

      OFFICE (GENERAL)
      3640 Brambleton Ave, Roanoke, VA 24018-3612
      View Details
    • Value Estimation
      $16,300,000
      159,727 SF

      1819 Electric Rd

      OFFICE (GENERAL)
      1819 Electric Rd, Roanoke, VA 24018-1604
      View Details
    • Value Estimation
      $2,800,000
      27,348 SF

      5372 Fallowater Ln

      OFFICE (GENERAL)
      5372 Fallowater Ln, Roanoke, VA 24018-0907
      View Details
    • Value Estimation
      $575,000
      1,514 SF

      4183 Electric Rd

      OFFICE (GENERAL)
      4183 Electric Rd, Roanoke, VA 24018-8443
      View Details
    • Value Estimation
      $1,005,000
      6,552 SF

      3801 Electric Rd

      OFFICE (GENERAL)
      3801 Electric Rd, Roanoke, VA 24018-4510
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Peters Creek Road Commercial Property

      Commercial property with visibility and access on 1.27 acres.
      3783 Peters Creek Rd, Roanoke, VA 24018
      View Details
    • Contact for pricing
      5,678 SF

      Medical/Office Building in Roanoke County

      5,678 SF medical/office building on 1.15 acre site.
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      29,000 SF

      Roanoke County Office Building

      Well-maintained office building with ample parking in Southwest Roanoke County.
      3433 Brambleton Ave, Roanoke, VA 24018
      View Details
    • $2,600,000

      Multi-Tenant Flex Industrial Property

      31,000 SF flex/industrial property with income and value-add potential.
      5205 Starkey Rd, Roanoke, VA 24018
      View Details
    • $775,000

      Electric Road Office Investment Opportunity

      Office suites in Roanoke's affluent neighborhood with high traffic counts.
      3247 Electric Rd, Roanoke, VA 24018
      View Details
    • New
      $349,950
      0.59 Acres

      Updated Retail/Office Building in Roanoke

      Versatile C-2 zoned retail/office building with recent updates.
      4310 Brandon Ave SW, Roanoke, VA 24018
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,893 SF

      Brambleton Ave Office Space For Lease

      High-traffic Cave Spring office space.
      4525 Brambleton Ave, Cave Spring, VA 24018
      View Details
    • Contact for pricing
      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
      View Details
    • Contact for pricing
      2,500 SF

      Office/Warehouse Space For Rent

      2,500 SF office/warehouse unit with versatile space.
      1807 Murry Rd SW, Roanoke, VA 24018
      View Details
    • Contact for pricing
      853 SF

      Professional Office at McVitty Center

      853 SF office condo in well-established professional park.
      2758 Electric Rd, Roanoke, VA 24018
      View Details
    • Contact for pricing

      Class A Medical/Professional Office

      New Class A office space in Southwest Roanoke County.
      3090 Electric Rd, Cave Spring, VA 24018
      View Details
    • Contact for pricing
      957 SF

      Professional Office Space For Lease

      Customizable office suites in affluent Roanoke neighborhood, recently renovated.
      3243 Electric Rd, Roanoke, VA 24018
      View Details
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    5604 Starkey Rd
    Cave Spring, 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.

    More about this property
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