3118 Williamson RdRoanoke, VA 24012

Property Details for 3118 Williamson Rd

Year built

1935

Construction

WOOD

Lot size

0.19 AC

Property size (Sq ft)

1,882 SF

Zone code

CG

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

207-0137

APU

2070137

Description

This exceptional 1,882 square foot storefront, located at 3118 Williamson Rd NW in Roanoke, Virginia (zip code 24012), presents a lucrative investment opportunity. The property, built in 1935 and extensively renovated in 2018, boasts a desirable location within a high-traffic area, ensuring excellent visibility and accessibility for any business. Currently operating as an established hair salon, the property benefits from a loyal customer base drawn from both nearby residential and commercial areas. The building sits on a 0.19-acre lot and features two stories within a single building. The permitted zoning is CG, offering flexibility for a variety of retail uses. The asking price is $330,000, translating to $175.35 per square foot. This represents a strong value proposition for investors seeking a well-established retail space in a thriving Roanoke location. The property's history as a successful salon demonstrates its potential for continued profitability under new ownership. Its prime location and recent renovations minimize the need for immediate capital expenditures, allowing for a swift return on investment. Serious inquiries are encouraged to explore this exceptional opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $256,032

  6.5%

  $236,337

  7%

  $219,456

• Comparable approach

  Method

  Valuation

  Relative Method

  $370,276

  Geo Method

  $669,591

• Alternative Use

  Use

  Valuation

  Residential

  $236,337

  Hospitality

  $216,484

  Educational

  $180,112

  Medical

  $186,306

  Retail

  $280,174

Location Insight

City

Roanoke

County

Roanoke City

State

Virginia

Latitude

37.299

Longitude

-79.9407

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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