1819 Electric RdCave Spring, VA 24018

Property Details for 1819 Electric Rd

Year built

1970

Lot size

13.32 AC

Property size (Sq ft)

159,727 SF

Property type

Office properties

Property subtype

Other office properties

APN

067.18-01-07.01-0000

APU

67180107010000

Description

Metis Plaza, located at 1819 Electric Rd in Cave Spring, Virginia, offers a diverse range of office spaces within its 165,808 square foot building. Originally constructed in 1969 for Allstate Insurance Company and extensively renovated in 2018, this Class A property boasts a prime location on 20 acres in Roanoke County. The building's versatile design caters to various business needs, accommodating traditional office setups, executive suites, medical practices, coworking spaces, and creative offices. With multiple tenancies available, businesses of all sizes can find a suitable space. The property features ample parking with 1,058 spaces, ensuring convenient access for employees and clients. Its strategic location provides easy access to Roanoke City (5 miles) and Salem (2 miles), situated just 5 miles east of I-81 on Highway 419. The property is zoned C1 and its APN is 067-18-01-07-01. Currently, one large space of 13,665 square feet is available. This exceptional property presents a unique opportunity for businesses seeking a well-maintained, spacious, and conveniently located office environment in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $17,523,928

  6.5%

  $16,175,933

  7%

  $15,020,509

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,274,620

  Geo Method

  $36,663,736

• Alternative Use

  Use

  Valuation

  Residential

  $20,058,156

  Hospitality

  $18,373,164

  Educational

  $15,286,256

  Medical

  $15,811,974

  Retail

  $23,778,622

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.2484

Longitude

-80.0374

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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