2222 Electric RdCave Spring, VA 24018

Property Details for 2222 Electric Rd

Year built

1983

Lot size

1.36 AC

Property size (Sq ft)

9,928 SF

Zone code

C2C

Property type

Office properties

Property subtype

Other office properties

APN

076.07-02-50

APU

76070250

Description

This exceptional 5,000-square-foot executive office space is located at 2222 Electric Road in Cave Spring, Virginia, within Roanoke County (zip code 24018). Situated on 2.5 acres of land, this Class B building, constructed in 1983, offers a high-visibility location on a premier business corridor between Roanoke and Salem. The property features multiple suites within a building totaling 1 square foot, with 6,000 square feet currently vacant. The zoning is C2C. The space boasts a desirable layout including a reception area, conference room, training room, break room, and eleven private offices, complemented by open workspace. Utilities are divided between tenant and landlord responsibilities. Tenants are responsible for electricity and janitorial services (a dumpster is provided by the landlord). Landlord responsibilities include water/sewer service, real estate taxes, building insurance, grounds maintenance, and snow removal. This property presents a unique opportunity for businesses seeking a prominent location with ample space and convenient amenities. The maximum contiguous space available is 5,000 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $1,089,218

  6.5%

  $1,005,432

  7%

  $933,616

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,260,190

  Geo Method

  $2,278,873

• Alternative Use

  Use

  Valuation

  Residential

  $1,246,736

  Hospitality

  $1,142,003

  Educational

  $950,133

  Medical

  $982,810

  Retail

  $1,477,985

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.2435

Longitude

-80.0275

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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