3090 Electric RdCave Spring, VA 24018

Property Details for 3090 Electric Rd

Year built

2008

Lot size

0.74 AC

Property size (Sq ft)

19,543 SF

Property type

Office properties

Property subtype

Other office properties

APN

076.16-01-39.02-0000

APU

76160139020000

Description

This exceptional Class A medical office complex, located at 3090 Electric Road in Cave Spring, Virginia, presents a unique investment opportunity. The property consists of two newly constructed (2020) buildings totaling 16,000 square feet, situated on a 7.1-acre lot. Currently, 6,960 square feet of space is available for lease, with a minimum divisible space of 4,000 square feet and a maximum contiguous space of 16,000 square feet. The buildings boast a brick exterior, high-end finishes, and incorporate virus control technology. Ample parking is provided with over 75 spaces, and prominent digital monument signage ensures excellent visibility. The buildings are delivered in shell condition, allowing for complete customization to meet tenant specifications. The property benefits from a highly desirable location in Southwest Roanoke County, offering convenient access to the Electric Road/419 corridor, less than a quarter-mile west of Cave Spring Corner. Easy access and egress from Route 419 are key advantages. The zoning is CIC, and the property features one elevator. This property is ideal for medical professionals seeking a modern, well-equipped, and highly visible location in a thriving business center. Landlord incentives and a substantial tenant improvement allowance are available for qualified long-term tenants. The APN is 076.16-01-39.03-0000

• CAP approach

  CAP return

  Valuation

  6%

  $2,144,096

  6.5%

  $1,979,166

  7%

  $1,837,797

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,480,651

  Geo Method

  $4,485,900

• Alternative Use

  Use

  Valuation

  Residential

  $2,454,166

  Hospitality

  $2,248,003

  Educational

  $1,870,312

  Medical

  $1,934,635

  Retail

  $2,909,374

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.2334

Longitude

-80.0129

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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