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Green Ridge Center 2 Retail Properties Offered at $1,649,000 in Roanoke, VA
INVESTMENT HIGHLIGHTS
- Excellent Visibility with High Traffic Count
- Long Term Leases for Most Tenants
- Currently Have Two Adjoining Spaces for 3,526 SF For Owner/Occupant
- Strong Tenant Base
- New Roof in 2018
EXECUTIVE SUMMARY
Offered for sale is Green Ridge Center located on Peters Creek Road a major primary street that runs through both the City of Roanoke and Roanoke County. There is a median crossover making for easy access from both north or south. Green Ridge is comprised of two buildings. 2350 Peters Creek is 5,268 square feet and has 3 tenants. 2362 Peters Creek is 8,640 square feet is comprised of six 1,440 square foot bays. Two of the tenants in this building have expanded to include two bays each. This building is anchored by a Domino's Pizza that has been in the property since 1988. 46 parking spaces. New roof in 2018. The next largest tenant has been in the building since 2012. Currently we have two contiguous spaces that would total 3,526 square feet if combined for an owner/occupant.
TAXES & OPERATING EXPENSES (PRO FORMA - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$187,990
|
| Other Income |
-
|
| Vacancy Loss |
$9,400
|
| Effective Gross Income |
$178,590
|
| Taxes |
$16,871
|
| Operating Expenses |
$35,184
|
| Total Expenses |
$52,055
|
| Net Operating Income |
$126,535
|
TAXES & OPERATING EXPENSES (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $187,990 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | $9,400 |
| Effective Gross Income | |
|---|---|
| Annual | $178,590 |
| Taxes | |
|---|---|
| Annual | $16,871 |
| Operating Expenses | |
|---|---|
| Annual | $35,184 |
| Total Expenses | |
|---|---|
| Annual | $52,055 |
| Net Operating Income | |
|---|---|
| Annual | $126,535 |
PROPERTY FACTS
| Price | $1,649,000 | Number of Properties | 2 |
| Price / SF | $118.56 / SF | Individually For Sale | 0 |
| Cap Rate | 7.67% | Total Building Size | 13,908 SF |
| Sale Type | Investment or Owner User | Total Land Area | 2.46 AC |
| Status | Active |
| Price | $1,649,000 |
| Price / SF | $118.56 / SF |
| Cap Rate | 7.67% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,908 SF |
| Total Land Area | 2.46 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2362 Peters Creek Rd NW, Roanoke, VA 24017 | Retail | 8,640 SF | 1988 | - |
|
Green Ridge Center
2350 Peters Creek Rd NW, Roanoke, VA 24017 |
Retail | 5,268 SF | 1988 | - |
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Green Ridge Center
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