302 1st ST SW, Roanoke, VA 24011 (MLS# 921709)

Limited Service: Not Limited Service

Commercial Type: Investment; Retail

Business Type: Other

Sale Includes: Building & Land

Construction: Brick; Other - See Remarks

Roof System: Other - See Remarks

Levels: Two

Heating: Electric; Natural Gas

Cooling: Electric; Heat Pump

Floors: Tile; Wood

Manufactured Homes: No HUD Tag

Additional Features: Display Window; Dry Sprinkler System; Passenger Elevator; Other - See Remarks

Water Description: Public

Sewer Description: Public Sewer

Water Heater Type: Other, see Remarks

Water Heater Energy: Other, see Remarks

Topography: Level

Today, The Horton Building is a four-storefront, six-loft mixed-use property that supports both artistry and opportunity. With no two alike, the upper floor residential lofts have a uniquely boutique feel where the common thread is in the fabric of the building that features 21-foot ceilings, eight-foot arched windows, exposed brick and trusses, and original heart of pine floors. But it's the creature comforts that ensure tenant tenure such as modern kitchens with granite countertops, stainless-steel appliances, and custom-tiled showers. Behind its restored façade, the building has been fully updated with new electric and HVAC systems, an R-39 insulated roof, sprinkler and fire-alarm systems, elevator service, and private parking all integrated seamlessly into the original structure. For an owner-operator, The Horton offers a rare dual opportunity: the ability to live, create, or operate a business within an investment that generates income from day one. The owner's loft is a palatial space of 5,000 square feet, where modern industrial chic meets European grand salon comfort and elegance. Designed for both function and flair, this expansive suite can serve as a luxury residence, creative studio, or executive headquarters. The ground-floor commercial spaces front two of Roanoke's most walkable corridors ideal for a café, gallery, or boutique retail use while the six residential lofts continue to attract strong tenant demand from professionals and creatives seeking authentic downtown living with historic soul.Downtown Roanoke has transformed into a thriving urban district with measurable momentum. Since 2010, the residential population has increased by approximately 300%, fueled by demand for urban living and walkable amenities. The area now includes 70+ restaurants and 40+ retailers, and tenants are paying about $100 more per month year over year even as new housing units come online. The share of renter households has risen from 43.6% to 48.1%, while the regional labor force and GDP have both grown nearly 3% in recent years, signs of sustained+economic health. These trends position The Horton at the center of an established yet still growing downtown core. Even without full stabilization, the property provides strong, risk-adjusted returns and multiple exit strategies. The existing income covers expenses comfortably, while future upside comes from leasing execution, rent appreciation, and value-add improvements. Investors can hold long-term for cash flow and appreciation, refinance after stabilization, or eventually subdivide the lofts for individual sale. Its mix of residential, retail, and potential owner-occupancy offers diversification and security rarely found in a single downtown asset. From its 1909 origin to its modern renaissance, The Horton Building stands as a living emblem of Roanoke's architectural and economic evolution. It is a home, a business, and a legacy property all at once offering its next owner the chance to live, operate, and grow within one of the city's most storied and beautifully restored addresses. Call the listing agent for proforma and up to date financials