506 1st ST SW, Roanoke, VA 24011 (MLS# 926792)

$150,000

506 1st ST SW
Roanoke, VA 24011
MLS# 926792

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Property Description
Auction Property: List price is required by MLS and does not reflect final sales price. Perfectly positioned in the heart of downtown Roanoke, this parking lot will be offered at auction on June 16th, 2026. Opportunities like this don't come around often. Private parking in a high-traffic, downtown location is limited, and demand continues to grow. The property sits directly across from Sidecar, Martin's Downtown Bar & Grill, and Jaybird Tavern, putting this lot right in the middle of consistent daily and nightlife traffic. All 16 spaces are currently privately leased at $60 per spot, per month, offering immediate income for an investor or a practical solution for a business owner needing dedicated parking. Downtown Roanoke isn't getting more parking, supply is low... cont

Details

Maps

General Property Description

Construction Status: Completed

Total Acreage: 0.13

Flood Area: No

Gross Lot SqFt: 5815

On site Parking: Yes

Basement Y/N: No

Parking Spaces: 16

Water Class: N/A

Gross Building SqFt: 0

Lease Available: No

Year Built: 1930

Location, Tax & Legal

Major Area: 01 - City of Roanoke

Legal: LOT 2 & S PT 3 BLK 2 O S SEC SW 2

Tax ID: 101-2702

Annual Taxes: 1033.94

Area: 0110 - City of Roanoke - Downtown

Street Number: 506

Street Name: 1st

Street Suffix: ST

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24011

Municipality: City of Roanoke

Remarks & Misc

Directions: Adjecent from Martin's Restaurant in Downtown Roanoke.

Limited Service

Not Limited Service: 1

Construction

Other - See Remarks: 1

Commercial Type

Investment: 1

Business Type

Other: 1

Income & Expenses

Gross Income: 11520

Water Description

None: 1

Sewer Description

None: 1

Manufactured Homes

No HUD Tag: 1

Contract Information

Current Price: $150,000

List Price: $150,000

List Date: 2026-04-22

Status: Active

Property Features

Limited Service: Not Limited Service

Commercial Type: Investment

Business Type: Other

Construction: Other - See Remarks

Manufactured Homes: No HUD Tag

Water Description: None

Sewer Description: None

Supplements

If you've been looking for a simple, income-producing asset or a way to control your own parking in a tight market, this is one worth paying attention to. According to plat surverys, this property has been a vacant lot since 1930. For more information visit woltz.com or call Woltz & Associates Inc. at (540) 342-3560

Listing Office: WOLTZ & ASSOCIATES

Last Updated: April - 22 - 2026

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