2727 Electric RdCave Spring, VA 24018

Property Details for 2727 Electric Rd

Year built

1990

Lot size

1.83 AC

Property size (Sq ft)

23,152 SF

Zone code

C1C

Property type

Office properties

Property subtype

Other office properties

APN

076.15-01-04

APU

76150104

Description

This exceptional two-story office building, known as La Premiere, offers 2,559 square feet of versatile commercial space for lease in desirable Cave Spring, Virginia. Located at 2727 Electric Road, this property boasts a highly visible location on Route 419, benefiting from an annual average daily traffic count of approximately 25,000 vehicles. The building features four available suites ranging from 900 to 2,559 square feet, perfect for businesses seeking traditional or executive office space. Each suite offers a blend of private offices and open work areas, enhanced by abundant natural light and elevator access. The property includes ample parking and a newer roof. This is a full-service gross lease, meaning all operating expenses are included in the rent. Furthermore, the landlord is willing to provide tenant improvements based on lease terms, offering flexibility for customization. The entire 2,559 square feet is currently vacant and ready for immediate occupancy. This location provides easy access between Roanoke and Salem, with convenient crossover access from Electric Road directly onto the property.

• CAP approach

  CAP return

  Valuation

  6%

  $2,540,046

  6.5%

  $2,344,658

  7%

  $2,177,182

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,938,752

  Geo Method

  $5,314,310

• Alternative Use

  Use

  Valuation

  Residential

  $2,907,376

  Hospitality

  $2,663,141

  Educational

  $2,215,702

  Medical

  $2,291,903

  Retail

  $3,446,647

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.2346

Longitude

-80.0243

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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