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Roanoke, VA Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Roanoke, Virginia Market population: 100K. Explore income-producing properties with verified cap rates and operating...

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⭐ Featured

Prime Investment Opportunity: 1531 Green St, Philadelphia, PA - Value-Add Multifamily Asset

$1,375,000
Philadelphia Multifamily

Discover a prime investment opportunity at 1531 Green St in Philadelphia, PA, a dynamic multifamily property offering co...

Cap Rate %
NOI $0
Size 6,624 SF

πŸ“Š Avg Property Tax Rate For Roanoke VA Properties: 0.7000%

πŸ“Š Average Income For Roanoke VA Commercial Property: $43,691

Investor Questions For Roanoke VA

Common questions from investors exploring commercial real estate in Roanoke VA.

What is the overall investment potential of Roanoke, VA, considering its demographics and economy? +
Roanoke, VA, with a population of 100,011 and a median age of 38.4, presents a stable investment market, given its median household income of $43,691 and a relatively high poverty rate of 19.4%, which is somewhat offset by an employed population of 46,419 and a high health insurance coverage rate of 88.2%.
How does the ethnic diversity and industry mix in Roanoke impact the demand for real estate? +
The top ethnicities in Roanoke, including White (36.6%), White Non-Hispanic (34.6%), and Black (17.1%), contribute to a diverse community, which, combined with top industries like Finance & Insurance and Professional, Scientific, & Management, suggests a steady demand for housing, potentially driven by a mix of local and professional residents.
What are the key factors influencing the quality of life for residents and, by extension, the attractiveness of Roanoke as an investment location? +
The average commute time of 18.1 minutes, with top commute methods including driving alone, working from home, and carpooling, indicates a manageable and flexible lifestyle for residents, further enhanced by a high health insurance coverage rate of 88.2%, suggesting a stable and healthy community.
How do poverty rates and health insurance coverage interact to affect the quality of tenants in Roanoke? +
The 19.4% poverty rate in Roanoke, while significant, is somewhat mitigated by the high health insurance coverage of 88.2%, suggesting that despite economic challenges, there is a level of employment stability and access to healthcare, which can contribute to a more reliable tenant base for investors.
What insights can be gleaned from the homeownership rate, median property value, and median property taxes in Roanoke for real estate investment purposes? +
With a homeownership rate of 53.4%, a median property value of $143,400, and median property taxes of $24,551, Roanoke presents a relatively affordable housing market with potential for investment, especially considering the balance between property values and taxes, which can influence rental yields and overall return on investment.

Roanoke VA Real Estate & City Facts

Key facts and real estate information about Roanoke VA.

What are some of the best neighborhoods to live in Roanoke? +
Some of the best neighborhoods to live in Roanoke include Downtown Roanoke, Grandin Village, Raleigh Court, Wasena, South Roanoke, and Old Southwest. Each neighborhood has its unique character and advantages, such as proximity to downtown, schools, and outdoor activities. For example, Downtown Roanoke offers a vibrant atmosphere with many restaurants and shops, while Grandin Village is known for its historic homes and tree-lined streets.
What are some fun things to do in Roanoke? +
Roanoke has a variety of fun things to do, including visiting the Taubman Museum of Art, exploring the Mill Mountain Star and Park, and taking a stroll along the Roanoke River Greenway. There are also plenty of great restaurants, such as Ike's Kitchen and Alejandros Mexican Grill, and breweries like Big Lick Brewing Company. Additionally, the city hosts various festivals and events throughout the year, such as the Roanoke Festival in the Park and the Virginia Blues and Brews Festival.
What is the food scene like in Roanoke? +
The food scene in Roanoke is diverse and vibrant, with a range of restaurants serving everything from Southern comfort food to international cuisine. Some popular spots include Ike's Kitchen for Japanese food, Alejandros Mexican Grill for California-style Mexican cuisine, and On The Rise Bread for freshly baked goods. There are also plenty of great food trucks and local breweries, such as Big Lick Brewing Company, that offer a variety of options for foodies and beer enthusiasts.
What are the pros and cons of living in Roanoke? +
The pros of living in Roanoke include its natural beauty, with the Blue Ridge Mountains and the Roanoke River nearby, as well as its vibrant downtown area with many restaurants, shops, and cultural attractions. The city also has a relatively low cost of living and a strong sense of community. However, some cons include traffic and parking challenges in the downtown area, and limited job opportunities in certain industries. Additionally, the city has a higher poverty rate and lower median household income compared to other cities in the state.
Is Roanoke a good place to live? +
Overall, Roanoke is a great place to live for those who value a strong sense of community, outdoor recreation opportunities, and a vibrant cultural scene. While it may have some challenges, such as limited job opportunities and traffic congestion, the city's natural beauty, low cost of living, and friendly residents make it an attractive option for many people. As with any city, it's essential to weigh the pros and cons and consider individual priorities and preferences when deciding whether Roanoke is the right fit.
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