3243 Electric RdCave Spring, VA 24018

Property Details for 3243 Electric Rd

Year built

1987

Lot size

1.00 AC

Property size (Sq ft)

4,352 SF

Zone code

C1

Property type

Office properties

Property subtype

Other office properties

APN

077.17-05-07

APU

77170507

Description

This exceptional 5,739 square foot, three-story office building at 3243 Electric Road in Cave Spring, VA, offers multiple tenancy options in a highly desirable SW County location. Built in 1989 and extensively renovated in 2023, the property boasts 8-foot ceilings and is zoned C1. Individual suites range from a minimum of 796 square feet to a maximum contiguous space of 1,921 square feet, with the potential for customization to meet specific tenant needs. The building features an ADA-compliant entry ramp, making it accessible to all. Situated near the intersection of Brambleton Avenue and Route 419, this property benefits from high traffic counts. Recent exterior renovations provide a modern and professional aesthetic, ideal for a variety of businesses, including medical practices, legal offices, and other professional services. The location within one of Roanoke's most affluent neighborhoods ensures a strong client base. This is a rare opportunity to secure ready-to-use office space in a prime location, offering both convenience and a prestigious address. The zip code is 24018.

• CAP approach

  CAP return

  Valuation

  6%

  $477,466

  6.5%

  $440,737

  7%

  $409,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $552,412

  Geo Method

  $998,958

• Alternative Use

  Use

  Valuation

  Residential

  $546,514

  Hospitality

  $500,604

  Educational

  $416,497

  Medical

  $430,821

  Retail

  $647,884

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.2285

Longitude

-80.0075

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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