3118 Williamson RdRoanoke, VA 24012

  • Mixed-use properties
  • 1,882 SF
For Sale
$330,000 View listing

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
3118 Williamson Rd, Roanoke, Virginia

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$2,864
$73,900
$111,100
$185,000
-
$73,900
$111,100
$185,000

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