1603 Franklin Rd SW - Medical FOR SALE


Roanoke, VA 24016
$1,349,000 USD
540-857-5840
1603 Franklin Rd SW, Roanoke, VA for Sale
$1,349,000 USD
Medical - FOR SALE
1/13
null | Request Cap Rate

1603 Franklin Rd SW
Roanoke, VA 24016


HIGHLIGHTS

  • Opportunity Zone Location
  • Modern, High-End Finishes
  • Complete Renovation in 2021-2022, including a new roof, HVAC system, 600-amp electrical service, and plumbing
  • Prominent Location just minutes from Downtown Roanoke, Carilion Roanoke Memorial Hospital, and Virginia Tech Carilion School of Medicine

OVERVIEW

Located at the prominent corner of Franklin Road SW and King George Avenue, this fully renovated Class A building offers +/- 5,194 SF of modern, flexible space with excellent visibility from Franklin Road. The property provides easy access to US 220/I-581 South and is situated on a major transportation route into Downtown Roanoke. With on-site parking, a circular drive, and a flexible interior layout, it’s ideal for various uses, from office and medical space to a live/work setup. Renovated in 2021 and 2022, the building features a new roof, HVAC system, 600-amp electrical service, and upgraded plumbing throughout. Premium finishes include LVP flooring, custom cabinetry, and durable paint that enhances the building's sleek aesthetic. The main level spans +/- 4,076 SF and is fully ADA-compliant, while the second floor offers an additional +/- 1,118 SF with direct access to the roof, providing the potential for a rooftop deck, outdoor lounge, green roof, or private terrace. Situated within an Opportunity Zone, the property is ideally positioned near key local employers and services, including Downtown Roanoke (1 mile), Carilion Roanoke Memorial Hospital(1/2 mile), and the Virginia Tech Carilion School of Medicine (1/2 mile).

FOR SALE DETAILS

PRICE

$1,349,000 USD

PRICE/SF

$260 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Medical/Professional Office- Old SW

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

MX

APN/PARCEL ID

1031107

ASK ABOUT THIS PROPERTY

Frank C. Martin, III | SIOR, CCIMHall Associates, Inc.More Info
540-857-5840

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Frank C. Martin, III | SIOR, CCIMHall Associates, Inc.More Info
540-857-5840

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.