302 1st ST SW, Roanoke, VA 24011 (MLS# 921709)

$2,875,000

302 1st ST SW
Roanoke, VA 24011
MLS# 921709
13 baths

Where history meets income and possibility — welcome to Horton Building.

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Broke ground in 1909 completed in 1910. Reimagined for today!

2 Bedrooms | 2 Full Baths
Residence D is sophisticated yet unexpected—delivering stylishness with a twist. Original heart-of-pine floors and classic wainscoting flow throughout the home, complemented by eight large windows, each framed in original trim and fitted with custom, made-to-order shades. The primary suite offers a spacious retreat with a granite-topped double vanity, a custom-tiled shower, and a generous walk-in closet with room for both hanging and shelving. The windowed second bedroom features an extra-long closet, while the guest bath continues the luxury feel with a beautifully tiled tub/shower combination. Crowning the space, a dramatic 21-foot wooden living-room ceiling adds warmth and architectural drama—giving this residence its signature “wow” factor.

Entrance from common area to owners suite.

Entrance hall leading to owners suite primary bedroom and baths.

1 0f 2 walk in closets located within the owner's suite primary bedroom.

Dressing room with half bath located within the owners suite primary bedroom.

1 Bedroom | 1 Bath | Approx. 550Sq. Ft. Residence E delivers bold character in a compact footprint. A dramatic 14-foot exposed brick wall sets the tone, blending industrial edge with historic charm. The open layout feels airy and bright, complemented by super-high ceilings and carefully restored architectural details. The kitchen features granite counters and classic schoolhouse pendant lighting, while the bath showcases a custom-tiled shower that adds a touch of luxury. Stylish, efficient, and full of personality—Residence E makes a lasting impression.

1 Bedroom Loft | 1 Bath | Approx. 1,200 Sq. Ft. Residence B blends historic character with dramatic scale. The open living area is anchored by a soaring 21-foot wood-clad ceiling and oversized eight-foot windows that flood the space with natural light. Original 1910 hardwood floors, exposed trusses, and brick accents highlight the building’s heritage while creating an inviting, loft-style atmosphere. A custom granite kitchen with a two-seat island offers both form and function, leading to a beautifully tiled bath featuring a spacious, spa-inspired shower. Upstairs, a full-height loft—positioned above the bath and walk-in closet—serves perfectly as a bedroom, office, or creative retreat. Residence B is the ideal blend of warmth, craftsmanship, and downtown sophistication.

One bed, one bath with extras, F has 650 square feet with a walk-in closet, oversized bathroom, and separate laundry room. There's also a bonus room in the attic that's accessible by pull-down stairs. With its extras plus 14-foot ceilings and windows at regular height but also a frosted double-sized window at the level of a second story, F exudes an inviting airiness mixed with the clean lines of urban contemporary.

Property Description
In 1909, H.W. ''Uncle Billy'' Horton broke ground on what would become one of Roanoke's most distinctive landmarks at the corner of Kirk Avenue and First Street. By 1910, the first tenant a piano company that later became Grand Home Furnishings had moved in, and the building's place in local history was secured. More than a century later, that same structure stands reborn as The Horton Building, a rare blend of early-20th-century craftsmanship and modern functionality. Recognized by the Roanoke Valley Preservation Foundation's 2013 Adaptive Reuse Award, the property remains a defining example of how heritage and performance can work hand in hand.

Details

Maps

Contract Information

Current Price: $2,875,000

List Price: $2,875,000

List Date: 2025-10-09

Status: Active

General Property Description

Construction Status: Completed

Year Built: 1909

Total Acreage: 0.2

Road Frontage: 87

Flood Area: No

On site Parking: No

Gross Building SqFt: 17292

Retail SqFt: 5289

Lease Available: No

Basement Y/N: Yes

Total Bths: 13

Water Class: N/A

Location Legal Taxes

Area: 0110 - City of Roanoke - Downtown

Street Number: 302

Street Name: 1st

Street Suffix: ST

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24011

Municipality: City of Roanoke

Business Type

Type of Business (Historical Field): Commercial/Investment

Lease Info

Lease Terms: Annual

Lease Amount: 10

Income Expenses

Net Operating Income: 159000

Miscellaneous Info

Ceiling Height: 21

Amps: 200 & 400

Property Features

Limited Service: Not Limited Service

Commercial Type: Investment; Retail

Business Type: Other

Sale Includes: Building & Land

Construction: Brick; Other - See Remarks

Roof System: Other - See Remarks

Levels: Two

Heating: Electric; Natural Gas

Cooling: Electric; Heat Pump

Floors: Tile; Wood

Manufactured Homes: No HUD Tag

Additional Features: Display Window; Dry Sprinkler System; Passenger Elevator; Other - See Remarks

Water Description: Public

Sewer Description: Public Sewer

Water Heater Type: Other, see Remarks

Water Heater Energy: Other, see Remarks

Topography: Level

Supplements

Today, The Horton Building is a four-storefront, six-loft mixed-use property that supports both artistry and opportunity. With no two alike, the upper floor residential lofts have a uniquely boutique feel where the common thread is in the fabric of the building that features 21-foot ceilings, eight-foot arched windows, exposed brick and trusses, and original heart of pine floors. But it's the creature comforts that ensure tenant tenure such as modern kitchens with granite countertops, stainless-steel appliances, and custom-tiled showers. Behind its restored façade, the building has been fully updated with new electric and HVAC systems, an R-39 insulated roof, sprinkler and fire-alarm systems, elevator service, and private parking all integrated seamlessly into the original structure. For an owner-operator, The Horton offers a rare dual opportunity: the ability to live, create, or operate a business within an investment that generates income from day one. The owner's loft is a palatial space of 5,000 square feet, where modern industrial chic meets European grand salon comfort and elegance. Designed for both function and flair, this expansive suite can serve as a luxury residence, creative studio, or executive headquarters. The ground-floor commercial spaces front two of Roanoke's most walkable corridors ideal for a café, gallery, or boutique retail use while the six residential lofts continue to attract strong tenant demand from professionals and creatives seeking authentic downtown living with historic soul.Downtown Roanoke has transformed into a thriving urban district with measurable momentum. Since 2010, the residential population has increased by approximately 300%, fueled by demand for urban living and walkable amenities. The area now includes 70+ restaurants and 40+ retailers, and tenants are paying about $100 more per month year over year even as new housing units come online. The share of renter households has risen from 43.6% to 48.1%, while the regional labor force and GDP have both grown nearly 3% in recent years, signs of sustained+economic health. These trends position The Horton at the center of an established yet still growing downtown core. Even without full stabilization, the property provides strong, risk-adjusted returns and multiple exit strategies. The existing income covers expenses comfortably, while future upside comes from leasing execution, rent appreciation, and value-add improvements. Investors can hold long-term for cash flow and appreciation, refinance after stabilization, or eventually subdivide the lofts for individual sale. Its mix of residential, retail, and potential owner-occupancy offers diversification and security rarely found in a single downtown asset. From its 1909 origin to its modern renaissance, The Horton Building stands as a living emblem of Roanoke's architectural and economic evolution. It is a home, a business, and a legacy property all at once offering its next owner the chance to live, operate, and grow within one of the city's most storied and beautifully restored addresses. Call the listing agent for proforma and up to date financials

Listing Office: LICHTENSTEIN ROWAN, REALTORS®

Last Updated: October - 29 - 2025

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