501 Marshall AVE SW, Roanoke, VA 24016 (MLS# 905741)

$799,000

501 Marshall AVE SW
Roanoke, VA 24016
MLS# 905741

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Property Description
Great commercial investment opportunity. Waldvogel Commercial Properties, Inc. has just listed this multi-tenant industrial building with strong rental history located in Downtown Roanoke. All spaces are fully occupied and leased to long-term tenants except for one unit set to expire at the end of 2024. The space to be vacated includes a sizable office (currently help by owners) and a mezzanine and garage space with roll up doors - ideal for an owner occupant or to add value with a new tenant. Highly visible location along 5th St. next door to the Kirk Family YMCA. Tenants include a mix of technology, construction/roofing, Hydroponics and office use. Annualized gross income of $77,748. Approximately 23 street spaces along Marshall Ave. for parking and additional 2000 SF of highly usable-

Details

Maps

Contract Information

Current Price: $799,000

List Price: $799,000

List Date: 2024-03-11

Status: Active

General Property Description

Construction Status: Completed

Year Built: 1935

Type of Business: Multi-Tenant Commercial

Lot Dimensions: 102 X 92

Total Acreage: 0.22

Road Frontage: 102

Flood Area: No

Gross Lot SqFt: 9523

On site Parking: No

Gross Building SqFt: 8980

Lease Available: Yes

Nbr of Stories: 1

Basement Y/N: Yes

Water Class: N/A

Location, Legal & Taxes

Major Area: 01 - City of Roanoke

Area: 0110 - City of Roanoke - Downtown

Street Number: 501

Street Name: Marshall

Street Suffix: AVE

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24016

Legal: E 2FT L 22 & ALL L 23&24 LEWIS BLK 1

Municipality: City of Roanoke

Tax ID: 1113531

Annual Taxes: 4153

Zoning Code: D

Remarks & Misc

Directions: 581 to west on Elm Ave. Right on 5th St. Property on left.

Income & Expenses

Gross Income: 77748

Net Operating Income: 77748

Property Features

Limited Service: Not Limited Service

Commercial Type: Industrial; Retail; Warehouse

Sale Includes: Building & Land

Floors: Carpet; Concrete

Manufactured Homes: No HUD Tag

Additional Features: Display Window

Water Description: Public Water

Sewer Description: Public Sewer

Water Heater Type: Tank

Topography: Level

Supplements

basement space not included in total square footage with new sump pump with battery backup installed recently. This is a well-kept property with many upgraded capital improvements over recent years including major renovations of storefronts, lighting, restrooms (with ADA improvements) electrical upgrades, New HVAC, new roof (front half in 2015, rear in 2021). See summary of improvements in the "documents tab". Owner financing may be available for qualified buyer.

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: March - 14 - 2024

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