3247 Electric RdCave Spring, VA 24018

Property Details for 3247 Electric Rd

Year built

1988

Lot size

1.00 AC

Property size (Sq ft)

4,352 SF

Zone code

C1

Property type

Office properties

APN

077.17-05-06

APU

77170506

Description

This exceptional 6,000 square foot, three-story office building at 3247 Electric Road in Cave Spring, Virginia (zip code 24018), offers flexible, ready-to-use office suites. Located in the desirable SW County submarket, this Class C property boasts a prime location with high traffic counts. Recently renovated in 2023, the building features updated exteriors, creating a professional image. Individual suites range from a minimum of 344 square feet to a maximum contiguous space of 1,954 square feet, accommodating various business needs. The building is zoned C1 and offers 8-foot ceilings. Built in 1989, this multi-tenant property is ideal for a variety of professional services, including medical practices and legal offices. Its location in a demographically affluent neighborhood provides excellent access to a strong client base. The property's customizable suite sizes allow tenants to lease only the space they require, maximizing efficiency and cost-effectiveness. Cross streets are Brambleton and 419. This is an unparalleled opportunity to secure high-quality office space in a thriving location.

• 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

37.2289

Longitude

-80.0073

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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