4142 Melrose Ave Roanoke, VA 24017

This exceptional investment opportunity presents a 162,903 square foot, Class C shopping center in Roanoke, VA. Located at 4142 Melrose Ave NW, this multi-tenant property boasts a 92% occupancy rate and a strong NOI of $525,755, representing an 8.35% cap rate. The asking price is $6,300,000, translating to $38.67 per square foot. The property comprises four one-story buildings situated on a 19-acre lot (APN 2761701) and is zoned IPUD/CG. Current tenants include Wells Fargo Bank, Aaron's Furniture, Harbor Freight, Carpet Factory Outlet, and Outdoor Power Equipment, generating a monthly gross income of $68,000. Built in 1957, the property benefits from a high-visibility corner lot and multiple sought-after outparcel buildings, offering significant redevelopment potential. Its central location provides easy access to Roanoke-Blacksburg Regional Airport and Interstate I-81, ensuring high traffic and visibility. The NNN lease structure minimizes management responsibilities, making this a low-maintenance, high-return investment. This property presents a compelling opportunity for investors seeking a stable income stream with significant upside potential for future development.