Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    674 Teresa Ln Roanoke, VA 24019

    • Commercial real estate
    • 0.78 lot acres
    For Sale
    View listing
    $1,250,000
    Last Sale
    Feb 23, 2021
    $40,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3170213
    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

    • Lil’ Cucci’s Pizzeria / Restaurant

    Property Details for 674 Teresa Ln

    Lot size
    0.78 lot acres
    Property type
    Commercial real estate
    APN
    107(12)B
    APU
    10712B

    Description

    This exceptional 1,836 square foot restaurant, built in 2022, is situated on a desirable 0.77-acre corner lot in Roanoke, VA. Boasting a prime location with high traffic counts in a rapidly developing area, this fully equipped establishment is ready for immediate operation. The current owner, with a strong local reputation, is willing to negotiate the continued use of the established restaurant name under specific conditions. The property features 94 approved indoor seats, plus additional outdoor patio seating, ensuring ample capacity. Two ADA-compliant bathrooms cater to all patrons. Infrastructure includes public water, sewer, natural gas, and high-speed internet access, along with a robust 400A 3-phase electrical system. Climate control is handled by three gas HVAC units (two 5-ton and one 4-ton), all with central air conditioning. The kitchen is fully equipped with a 16-foot hood, captive air system, tankless gas water heater, a 6'x8' walk-in cooler, grease trap, and water softener. Parking is readily available with 23 on-site spaces supplemented by on-street parking. Detailed equipment lists and comprehensive sales data are available to qualified buyers under a confidentiality agreement. A virtual tour is also available for prospective purchasers. This is a truly turnkey opportunity for a discerning buyer looking to capitalize on a thriving business in a vibrant location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Botetourt
    State
    Virginia
    Longitude
    -79.8864
    Latitude
    37.3527
    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
    $155,400
    $199,200
    $354,600
    -
    $155,400
    $199,200
    $354,600

    Comparable in this City

    • Value Estimation by Request

      2941 Peters Creek Rd

      Land
      2941 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • Value Estimation by Request
      10.49 Acres

      Crumpacker Dr

      Land • 10.49 Acres
      0 Crumpacker Dr, Roanoke, VA 24019
      View Details
    • Value Estimation by Request
      1.57 Acres

      834 Cougar Dr

      COMMERCIAL (GENERAL) • 1.57 Acres
      834 Cougar Dr, Roanoke, VA 24019
      View Details
    • Value Estimation by Request
      4.43 Acres

      226 Lee Hwy

      COMMERCIAL (GENERAL) • 4.43 Acres
      226 Lee Hwy, Roanoke, VA 24019-8513
      View Details
    • Value Estimation by Request
      1,695 SF

      4855 Hollins Rd

      COMMERCIAL (GENERAL) • 1,695 SF
      4855 Hollins Rd, Roanoke, VA 24019-5320
      View Details
    • Value Estimation by Request
      0.46 Acres

      94 Industrial Dr

      COMMERCIAL (GENERAL) • 0.46 Acres
      94 Industrial Dr, Roanoke, VA 24019-8502
      View Details

    Similar Nearby for Sale

    • $275,000
      10.65 Acres

      Roanoke Commercial Land - 10.65 Acres

      Prime Roanoke development land, high traffic, flat parcel.
      0 Cloverdale Rd, Roanoke, VA 24019
      View Details
    • $1,095,000
      1.97 Acres

      Prime Hollins Commercial Land

      1.97 Acres, Build-to-Suit Options
      7518 Plantation Rd, Hollins, VA 24019
      View Details
    • $945,000
      1,836 SF

      Prime Roanoke Restaurant Opportunity

      Turnkey Italian Restaurant, High Sales
      674 Teresa Ln, Roanoke, VA 24019
      View Details
    • $1,999,950
      10.49 Acres

      Roanoke Commercial Land Development

      10.49 Acres, C1 Zoning, Walmart Adjacent
      0 Crumpacker Dr, Roanoke, VA 24019
      View Details
    • $275,000
      10.65 Acres

      Botetourt County Development Land

      10.65 Acres, Multifamily Potential, VA
      6767 Cloverdale Rd, Roanoke, VA 24019
      View Details
    • $159,000
      0.43 Acres

      Peters Creek Road Development Site

      Prime Roanoke commercial land, 0.43 acres.
      3509 Peters Creek Rd, Roanoke, VA 24019
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      3,037 SF

      Woodhaven Office Park: Prime Roanoke Space

      Class A Office Suites, North Roanoke, VA
      5430 Peters Crk Rd, Hollins, VA 24019
      View Details
    • $12 SF/Yr
      3,800 SF

      Roanoke County Office Space Available

      Office suites for lease on Electric Road with ample parking.
      7535 Williamson Rd, Roanoke, VA 24019
      View Details
    • $13 SF/Yr
      1,834 SF

      Roanoke Office Space For Rent

      Office space for rent with easy access to highways.
      6711 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • $14 SF/Yr
      2,810 SF

      Office and Warehouse Space Available

      Modern office and functional warehouse space for rent.
      6742-6746 Thirlane Rd, Roanoke, VA 24019
      View Details
    • $5 SF/Yr
      27,500 SF

      Roanoke Warehouse with Recent Upgrades

      27,500 sq ft warehouse with convenient Interstate 81 access.
      7703 Enon Dr, Roanoke, VA 24019
      View Details
    • $11 SF/Yr
      12,000 SF

      Prime Roanoke Office Space

      Botetourt County, VA - Multi-Tenant Office Building
      89 Summers Way, Roanoke, VA 24019
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    674 Teresa Ln
    Roanoke, VA 24019
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.