1603 Franklin Rd SW | Roanoke, VA 24016
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1603 Franklin Rd SW
Roanoke, VA 24016
Medical/Professional Office- Old SW · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Opportunity Zone Location
- Complete Renovation in 2021-2022, including a new roof, HVAC system, 600-amp electrical service, and plumbing
- Modern, High-End Finishes
- Prominent Location just minutes from Downtown Roanoke, Carilion Roanoke Memorial Hospital, and Virginia Tech Carilion School of Medicine
EXECUTIVE SUMMARY
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).
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).
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
5,194 SF
Building Class
B
Year Built
1962
Price
$1,349,000
Price Per SF
$260
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
4,076 SF
Building FAR
0.32
Lot Size
0.37 AC
Opportunity Zone
Yes
Zoning
MX - The MX District in Roanoke, VA, allows mixed-use development, combining residential, commercial, and cultural uses in a flexible urban setting.
Parking
16 Spaces (3.08 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 103-1107 | Improvements Assessment | $816,000 |
| Land Assessment | $191,900 | Total Assessment | $1,007,900 |
PROPERTY TAXES
Parcel Number
103-1107
Land Assessment
$191,900
Improvements Assessment
$816,000
Total Assessment
$1,007,900
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