116 Jefferson StRoanoke, VA 24016

Property Details for 116 Jefferson St

Year built

1910

Construction

TYPE NOT SPECIFIED

Lot size

0.82 AC

Property size (Sq ft)

47,960 SF

Zone code

D

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

201-3009

APU

2013009

Description

This exceptional 48,000-square-foot office space at 116 N Jefferson St in Roanoke, VA (zip code 24016), presents a unique opportunity for a single tenant. Located in the heart of downtown Roanoke, this adaptable space offers a flexible, open floor plan with existing offices and breakout rooms. The building boasts two levels, each with convenient ground-level access and ample on-site parking. The layout is easily customizable to suit various business needs, making it ideal for executive offices, medical practices, or creative agencies. Situated just off Interstate 581 and minutes from the Roanoke Regional Airport, this property enjoys unparalleled accessibility. Its prime location directly across from the historic Hotel Roanoke and Conference Center provides exceptional visibility and proximity to a thriving downtown area. Roanoke's robust economy, with a population exceeding 330,000 and a labor area population of approximately 700,000, offers significant business advantages. Enjoy the convenience of numerous restaurants and amenities within walking distance. This is a truly plug-and-play opportunity in a vibrant and accessible location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,524,601

  6.5%

  $6,022,708

  7%

  $5,592,515

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,435,942

  Geo Method

  $17,063,544

• Alternative Use

  Use

  Valuation

  Residential

  $6,022,708

  Hospitality

  $5,516,769

  Educational

  $4,589,887

  Medical

  $4,747,740

  Retail

  $7,139,824

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.2749

Longitude

-79.9409

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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