Sept 11, 2012 

 
Electric Road Facelift 

    

Greetings!
 

The Grapevine has learned that the owner of 3846 Electric Road (the former "Sleep for Less") has decided to make some facade improvements to his building. This seems like a smart play as viable retailers look for an alternative to Tanglewood Mall. At this location, Route 419 boasts an average daily traffic count of nearly 30,000 cars per day. The smaller building on the adjoining parcel (Smokey Joe's and Desert Tan) is slated for similar improvements. 

 

The building consists of 4,800 square feet with exclusive parking rights. Below is an architectural sketch of what it will look like when complete.     

 
Featured Property: 
Jefferson St. Professional Office 
 

FOR LEASE - Rare chance to lease this stand-alone, one or two-provider medical office space. This property is on the highly visible SW corner of Jefferson and Walnut on the main drag between downtown and the Carilion Clinic. Perfect location. Newly updated interior finishes make this office ready to go. Ask about purchase.

Call Bryan or Richard for more information.
Focus on 460 (East)     

Land Opportunities Remain Abundant   
                                        

As activity picks up in the commercial real estate market here in Roanoke, so do the opportunities to buy.  This is exactly the case up and down the Rt.460 corridor from Williamson Road to Bonsack.  

 

With an average asking price of $411,136 per acre, the opportunities range from small retail lots on up to the 21 acres at Valley Gateway.  Nineteen parcels are currently for sale, and while market activity is increasing, development of raw land remains stagnant.   

 

 

Here is a survey of the properties listed for sale along Rt. 460 from Williamson Rd to Rt. 220 Alt.  

 

 

 source www.costar.com 

 
Issue: 14            
In This Issue
Featured Property
Focus on 460 (East)

Vote for 
Downtown's
MSTL
Most Superfluous Traffic Light



 
Break the tie! We have a dead heat in our most popular poll ever. Go here to cast your vote for the most unnecessary traffic light in Downtown. 

What did it sell for?




707 S. Jefferson Street
Units 1 and 2
Roanoke, VA

Last month, the first two floors of the 707 Building were sold. The first floor consists of 9,791 square feet and the second, 6,209 s.f. This translates to a sales price of $75.31 per square foot for a fully leased and functional office building. Oddly, the building right next door is priced at $94.70/sf as a vacant building.   

 

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Richard Wellford, CCIM
(540) 855-3648
 Email
VCard


Bryan Musselwhite
(540) 855-3654
Email
VCard
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Richard Wellford and Bryan Musselwhite
Commercial Real Estate Grapevine