2775 Lee HwyTroutville, VA 24175
- Commercial real estate
- 1.59 AC
Property Details for 2775 Lee Hwy
- Lot size
- 1.59 AC
- Zone code
- B-2
- Property type
- Commercial real estate
- APN
- 101-142
- APU
- 101142
Description
This exceptional 5,396 square foot retail storefront, located at 2775 Lee Hwy in Troutville, Virginia (zip code 24175), presents a unique opportunity. Situated on a 1.399-acre lot at the intersection of Route 11 and Route 220, this single-tenant property boasts a prominent location along Interstate 81, Exit 150. The property has a rich history as a successful casual dining restaurant for over 40 years, offering flexibility for a drive-thru addition. Large pylon signs ensure high visibility from all approaching roadways. The property is currently vacant and available for lease. An adjacent parcel is also available for sale, creating a potential 2.2+ acre redevelopment site. Restaurant equipment and furnishings may be available for purchase separately. This property is also available for sale at $1,099,000. The property is in Botetourt County, within the Roanoke submarket and Troutville submarket cluster.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $8,590,150
- 6.5%
- $7,929,370
- 7%
- $7,362,990
-
Comparable approach
- Method
- Valuation
- Relative Method
- $8,769,290
- Geo Method
- $15,858,000
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $17,693,700
- Retail / Commercial
- $8,665,550
- Mixed-Use / Specialty
- $8,313,380
- Hospitality / Lodging
- $5,680,980
- Office
- $7,929,370
- Institutional / Educational
- $8,527,750
- Residential Income
- $9,977,460
- Multifamily
- $13,747,500
- Automotive / Energy
- $7,309,500
- Parking / Income-Based Land
- $2,839,830
- Restaurant / Food Service
- $3,638,200
- Healthcare / Senior Housing
- $8,854,680
Location Insight
- City
- Troutville
- County
- Botetourt
- State
- Virginia
- Latitude
- 37.3872
- Longitude
- -79.9038
- CBSA code
- 40220
- CBSA name
- ROANOKE, VA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
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