Two Residential Parcels

Property Description

RI Marketplace Online Auction Dec. 5-7, 2023.

Register to Bid.

Investment Highlights

±0.9763 AC of Land off Dense Commercial Corridor, adjacent to Established Residential Neighborhood

Attractive Demographics with 5-Mile Population of ±97,988 and Annual Household Income of ±$66,559

Nearby Retail: Dollar General, Burger King, Kroger, Dollar Tree, Cvs, and more

Favorable R-1, Low Density Residential with Flexible Uses Permitted

Minutes from Downtown Roanoke and Roanoke-Blacksburg Airport

4.0% Population Growth from 2010-2023 and Future Growth Anticipated (5-mile radius)

Absolute $1 Auction - NO Reserve

Offering Summary

Marcus & Millichap, in conjunction with RI Marketplace, is pleased to present two residential parcels (the “Property”) adjacent to 6913 Williamson Road in Roanoke, Virginia. This Property offers an exceptional investment opportunity to develop two parcels parcel adjacent to a dense retail corridor in the path of growth.

The Property consists of two vacant land parcels totaling 0.9763 acres within an established residential community and adjacent to Dollar General. The Property is in a robust trade area near a mix of residential and retail demand generators. Nearby retailers include Lowe's, Sam's Club, Starbucks, Dollar General, Burger King, Kroger, Dollar Tree, Cvs, and more. The Property benefits from R-1, low density residential zoning with permitted uses including manufactured home, single family dwelling, short-term rental, bed and breakfast, and others.

Roanoke, Virginia, nestled in the picturesque Blue Ridge Mountains, offers a compelling opportunity for residential real estate investors. Known as the "Star City of the South," Roanoke boasts a vibrant cultural scene, a rich history, and a strong sense of community. Roanoke is a regional transit hub served by a major airport, rail, and multiple interstate highways. The city is 182 miles west of Richmond, 195 miles north of Charlotte, North Carolina, and 162 miles north of Raleigh, North Carolina.

The Property's location offers excellent real estate fundamentals within a robust area and extremely dense and compelling demographics with a 2023 population of ±97,988 people and average annual household income of ±$66,559 within a 5-mile radius. The area has benefited from population growth of ±4.0% from 2010-2023 and will continue to benefit from a population that is expanding, with ±0.98% growth projected from 2023-2028 (5-mile radius).

Lamar P. Fisher

Fisher Auction Company Inc.