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1421 3rd St SW 9,851 SF Office Building Roanoke, VA 24016 For Sale
INVESTMENT HIGHLIGHTS
- Recently fully leased medical office building to primary care and family medicine practice in Roanoke’s premier biomedical corridor
- Landlord pays taxes and insurance. Tenant pays for utilities, maintenance, and janitorial.
- Drive-thru drop off zone
- Annual Gross Rent: $134,240 ($14.75/sf)
- Three (3) year lease, commenced September 1, 2025
EXECUTIVE SUMMARY
Cushman & Wakefield | Thalhimer, as sole representative of the Owner, is pleased to present 1421 3rd Street SW in Roanoke, Virginia, a singletenant ±9,101-square-foot contemporary medical office building, representing a rare opportunity to acquire a fully leased, turnkey medical asset at the heart of one of the region’s most dynamic growth corridors. Originally constructed in 1994 for a physical therapy practice and renovated in 2025, the property was purpose-built for healthcare use and features a thoughtful combination of functionality and design. The building is fully leased to Physicians Associates of Virginia, P.C., a well-established medical group with deep roots in the Roanoke community, and offers a low-touch, predictable income profile for ownership.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
9,851 SF
Building Class
C
Year Built
1994
Tenancy
Single
Building Height
1 Story
Typical Floor Size
9,851 SF
Building FAR
0.65
Lot Size
0.35 AC
Opportunity Zone
Yes
Zoning
MX
Parking
10 Spaces (1.09 Spaces per 1,000 SF Leased)
1 1
Bike Score®
Very Bikeable (80)
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1421 3rd St SW
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