700 University City BlvdBlacksburg, VA 24060

Property Details for 700 University City Blvd

Year built

1985

Lot size

2.56 AC

Property size (Sq ft)

56,115 SF

Zone code

GC

Property type

Specialty properties

Property subtype

Other specialty properties

APN

225- 10 A1

APU

22510A1

Description

This exceptional 56,044 square foot Class A office building, situated on a 2.559-acre lot in Blacksburg, Virginia, presents a unique investment opportunity. Built in 1985, this two-story structure boasts modern architectural features and abundant natural light. Currently zoned GC - Commercial General, the property offers significant redevelopment potential, with its large floor plates easily adaptable to various uses. Its prime location adjacent to Virginia Tech and downtown Blacksburg ensures high visibility and accessibility, making it ideal for a mixed-use development incorporating residential, retail, and commercial spaces. The existing building features flexible interior layouts and ample on-site parking (90 spaces), further enhanced by its proximity to a Blacksburg Transit bus stop. The asking price is $7,850,000, translating to $140.07 per square foot. This property offers a potential short-term lease-back opportunity, allowing for immediate revenue generation for the new owner. The property's address is 700 University City Blvd, Blacksburg, VA 24060, with APN 225-10 A1. This is a rare opportunity to acquire a substantial property in a highly sought-after location with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $7,046,795

  Hospitality

  $6,454,826

  Educational

  $5,370,340

  Medical

  $5,555,034

  Retail

  $8,353,862

Location Insight

City

Blacksburg

County

Montgomery

State

Virginia

Latitude

37.2331

Longitude

-80.4314

CBSA code

13980

CBSA name

BLACKSBURG-CHRISTIANSBURG-RADFORD, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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