3312 Cove RdRoanoke, VA 24017

Property Details for 3312 Cove Rd

Year built

1952

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

3,234 SF

Zone code

CG

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

644-0201

APU

6440201

Description

This exceptional Roanoke, VA property at 3312 Cove Rd, zip code 24017, presents a rare investment opportunity. Priced at $695,000, this mixed-use land encompasses a substantial brick building ideally suited for a variety of retail ventures. Boasting a daily traffic count exceeding 24,000 vehicles, this location ensures high visibility and accessibility. The building itself is in excellent condition, featuring recently installed mini-split heating and cooling units (installed last year), and a garage roof that was reshingled last year. Additional features include ample storage space, a basement, extensive parking, and a convenient utility shed. The sale includes two lots, providing significant space for expansion or diverse uses. This property is perfect for a convenience store, gas station, restaurant, or car lot, offering a unique chance to establish a thriving business in a high-demand area. Its strategic location near a highway guarantees exceptional exposure and customer reach. Don't miss this chance to own a piece of prime Roanoke real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $439,962

  6.5%

  $406,118

  7%

  $377,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $636,277

  Geo Method

  $1,150,615

• Alternative Use

  Use

  Valuation

  Residential

  $406,118

  Hospitality

  $372,002

  Educational

  $309,502

  Medical

  $320,146

  Retail

  $481,447

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.3036

Longitude

-79.984

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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