Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7857 Enon Dr Hollins, VA 24019
    Back to Search
    Property profile & analytics

    7857 Enon Dr, Hollins, VA 24019

    View on Map
    • Office Spaces
    • 8,876 SF
    • 3.11 lot acres
    For Sale
    $1,300,000
    View Listing →
    Hollins Office Building For Sale For Sale
    $1,300,000
    10,129 SF

    Hollins Office Building For Sale

    Office building in park-like setting near I-81 Hollins exit.

    7857 Enon Dr, Hollins, VA 24019
    View Listing
    Property ID
    US87-1326265
    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

    • Office Spaces

    Property Details for 7857 Enon Dr

    Year built
    1998
    Lot size
    3.11 lot acres
    Zone code
    C1
    Property type
    Office Spaces
    APN
    027.06-03-04
    APU
    27060304

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 27, 2026 — Gray Ghost Ventures LLC — Deed · related $960k · Citizens & Farmers Bank
    Jan 8, 2025 — Gray Ghost Venutres LLC — Deed · related $850k · Member One FCU
    Apr 1, 2024 $685,000 Gray Ghost Ventures LLC Hollins Communications Research Ins Deed —
    — — Hollins Communications Reseach — Deed Of Trust · related $448k · First Bk/charleston

    Description

    This 10,129-square-foot, two-story Class B office building, situated on a 3.11-acre lot in Hollins, Virginia (zip code 24019), presents a compelling value-add investment opportunity. Built in 1998 and previously utilized as the Hollins Communications Research Institute, the property boasts a park-like setting with mountain views. Currently operating at 15% occupancy with a single tenant under a short-term lease (expiring September 30, 2024), this multi-tenant building offers significant upside potential. The flexible layout includes individual offices, adaptable exam rooms, break areas on both floors, and ample storage, even an apartment. Zoned C-1, it's ideally suited for medical, traditional office, or educational uses. Its prime location near I-81's Hollins exit provides easy access to Salem, Roanoke City, and Botetourt County. The property benefits from the proximity to numerous amenities, including major retailers (Tractor Supply Co., Camping World), hotels, and the recently expanded Wells Fargo Customer Support Center (a $87 million expansion adding 1,100 jobs). The asking price is $1,300,000 ($128.34/SF). The building offers one lease renewal option for six months.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $685,000
      ML approach
      $685,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $875,000
      Market price range: $397k - $1.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9583
    Latitude
    37.3541
    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
    $10,655
    $334,700
    $689,800
    $1,024,500
    -
    $334,700
    $689,800
    $1,024,500

    Comparable in this City

    • Value Estimation
      $995,000
      9,021 SF

      7670 Enon Dr

      OFFICE (GENERAL)
      7670 Enon Dr, Roanoke, VA 24019-3268
      View Details
    • Value Estimation
      $2,235,000
      27,008 SF

      5162 Valleypointe Pkwy

      OFFICE (GENERAL)
      5162 Valleypointe Pkwy, Roanoke, VA 24019-3050
      View Details
    • Value Estimation by Request
      2,047 SF

      7752 Williamson Rd

      OFFICE (GENERAL)
      7752 Williamson Rd, Roanoke, VA 24019-4343
      View Details
    • Value Estimation by Request
      2,160 SF

      6905 Williamson Rd

      OFFICE (GENERAL)
      6905 Williamson Rd, Roanoke, VA 24019-4228
      View Details
    • Value Estimation by Request
      3,282 SF

      6434 Peters Crk Rd

      OFFICE (GENERAL)
      6434 Peters Crk Rd, Roanoke, VA 24019-4022
      View Details
    • Value Estimation by Request
      2,804 SF

      6375 Peters Crk Rd

      OFFICE (GENERAL)
      6375 Peters Crk Rd, Roanoke, VA 24019-4000
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,129 SF

      Hollins Office Building For Sale

      Office building in park-like setting near I-81 Hollins exit.
      7857 Enon Dr, Hollins, VA 24019
      View Details
    • Contact for pricing
      10,120 SF

      Roanoke Office Building with Views

      10,129 SF office building with valley views for sale.
      7851-7857 Enon Dr, Roanoke, VA 24019
      View Details
    • Contact for pricing
      17,970 SF

      Hollins Office Building For Sale

      17,970 SF office building in Hollins, Virginia.
      5240 Valleypark Dr, Hollins, VA 24019
      View Details
    • $995,000

      Roanoke Development Opportunity

      14.8 acres of C2S zoned land with office space.
      4855 Hollins Rd, Roanoke, VA 24019
      View Details
    • Contact for pricing
      12,000 SF

      Multi-Tenant Business Center For Sale

      12,000 SF multi-tenant professional building with strong rental history.
      192 Summerfield Ct, Troutville, VA 24019
      View Details
    • Contact for pricing
      7,500 SF

      Two-Story Office Building For Sale

      Two-story office building in Botetourt County with ample parking.
      89 Summers Way, Roanoke, VA 24019
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,150 SF

      Premium Office Space Available

      Premium office space for lease in Roanoke Valley.
      5251 S Concourse Dr, Roanoke, VA 24019
      View Details
    • Contact for pricing
      1,500 SF

      Office Space Near Airport

      Office spaces available for lease near Roanoke Regional Airport.
      5306-5312 Peters Creek Rd, Hollins, VA 24019
      View Details
    • Contact for pricing

      Premier Office Space For Lease

      Modern, renovated office space with excellent visibility and easy access.
      5363 Peters Creek Rd NW, Roanoke, VA 24019
      View Details
    • Contact for pricing

      North Roanoke Office Space Available

      First-class office space in a sought-after North Roanoke office park.
      5430 Peters Creek Road Ext, Roanoke, VA 24019
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      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
    View Listing
    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.
    7857 Enon Dr
    Hollins, 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

    Thank You for Inquiry
    7857 Enon Dr, Hollins, VA, 24019
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!