7857 Enon DrHollins, VA 24019

Property Details for 7857 Enon Dr

Year built

1998

Lot size

3.11 AC

Property size (Sq ft)

8,876 SF

Zone code

C1

Property type

Office properties

Property subtype

Other office properties

APN

027.06-03-04

APU

27060304

Description

This 10,129-square-foot, two-story Class B office building, situated on a 3.11-acre lot in Hollins, Virginia (zip code 24019), presents a compelling value-add investment opportunity. Built in 1998 and previously utilized as the Hollins Communications Research Institute, the property boasts a park-like setting with mountain views. Currently operating at 15% occupancy with a single tenant under a short-term lease (expiring September 30, 2024), this multi-tenant building offers significant upside potential. The flexible layout includes individual offices, adaptable exam rooms, break areas on both floors, and ample storage, even an apartment. Zoned C-1, it's ideally suited for medical, traditional office, or educational uses. Its prime location near I-81's Hollins exit provides easy access to Salem, Roanoke City, and Botetourt County. The property benefits from the proximity to numerous amenities, including major retailers (Tractor Supply Co., Camping World), hotels, and the recently expanded Wells Fargo Customer Support Center (a $87 million expansion adding 1,100 jobs). The asking price is $1,300,000 ($128.34/SF). The building offers one lease renewal option for six months.

• CAP approach

  CAP return

  Valuation

  6%

  $973,801

  6.5%

  $898,894

  7%

  $834,687

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,126,657

  Geo Method

  $2,037,397

• Alternative Use

  Use

  Valuation

  Residential

  $1,114,628

  Hospitality

  $1,020,993

  Educational

  $849,454

  Medical

  $878,668

  Retail

  $1,321,374

Location Insight

City

Roanoke

County

Roanoke

State

Virginia

Latitude

37.3541

Longitude

-79.9583

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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