34 Campbell Ave SW - Office FOR SALE


Roanoke, VA 24011
$5,375,000 USD
540-353-5344
34 Campbell Ave SW, Roanoke, VA for Sale
$5,375,000 USD
Office - FOR SALE
1/9
null | 8.25% Cap Rate

34 Campbell Ave SW
Roanoke, VA 24011


HIGHLIGHTS

  • 8.25% CAP Rate on In-Place Income
  • Stable Cashflowing Asset
  • Long Term Government Tenants
  • Income Upside Opportunity
  • Multiple Nearby Parking Options
  • Great Location

OVERVIEW

Poe & Cronk Real Estate Group presents First Campbell Square in downtown Roanoke available for new ownership for the first time in almost 40 years! This prominent downtown office building features five stories of rentable office space with a stable high-quality tenant mix offering in-place income with a significant value-add opportunity for an investor or owner/user. The diverse tenant mix at First Campbell Square features federal and state government agencies along with private sector professional and medical service companies. The U.S. General Service Administration occupies approximately thirty-five percent (35%) of the building and the Commonwealth of Virginia occupies twenty-four percent (24%) of the rentable building area. The available space in the building would be ideal for an owner occupant needing space for their own business while generating additional long-term value through higher occupancy. An investor owner can realize a significant gain through a stabilized occupancy rate with a higher net operating income ballooning the market value of the asset. First Campbell Square is located in the heart of the central business district of downtown Roanoke. Downtown Roanoke is a vibrant and walkable area with a diverse mix of retail, residential and restaurants within close proximity. Investment in the downtown Roanoke area is at an all-time high. First Campbell Square is situated across Campbell Avenue from The Bower, a new $25 Million mixed-use development featuring retail spaces and 90 residential living units. Multiple parking options are available from street parking to public and private parking garages and surface parking lots.

FOR SALE DETAILS

PRICE

$5,375,000 USD

PRICE/SF

$59 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

First Campbell Square

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

D

APN/PARCEL ID

1011701

ASK ABOUT THIS PROPERTY

Jacob QuesinberryPoe & Cronk Real Estate GroupMore Info
540-353-5344

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Jacob QuesinberryPoe & Cronk Real Estate GroupMore Info
540-353-5344

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