506 1st ST SW, Roanoke, VA 24011 (MLS# 926792)


$150,000
506 1st ST SW
Roanoke, VA 24011
MLS# 926792



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Property Description
Auction Property: List price is required by MLS and does not reflect final sales price. Perfectly positioned in the heart of downtown Roanoke, this parking lot will be offered at auction on June 16th, 2026. Opportunities like this don't come around often. Private parking in a high-traffic, downtown location is limited, and demand continues to grow. The property sits directly across from Sidecar, Martin's Downtown Bar & Grill, and Jaybird Tavern, putting this lot right in the middle of consistent daily and nightlife traffic. All 16 spaces are currently privately leased at $60 per spot, per month, offering immediate income for an investor or a practical solution for a business owner needing dedicated parking. Downtown Roanoke isn't getting more parking, supply is low... cont

Details
Maps
General Property Description
Construction Status: Completed
Total Acreage: 0.13
Flood Area: No
Gross Lot SqFt: 5815
On site Parking: Yes
Basement Y/N: No
Parking Spaces: 16
Water Class: N/A
Gross Building SqFt: 0
Lease Available: No
Year Built: 1930
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Legal: LOT 2 & S PT 3 BLK 2 O S SEC SW 2
Tax ID: 101-2702
Annual Taxes: 1033.94
Area: 0110 - City of Roanoke - Downtown
Street Number: 506
Street Name: 1st
Street Suffix: ST
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24011
Municipality: City of Roanoke
Remarks & Misc
Directions: Adjecent from Martin's Restaurant in Downtown Roanoke.
Limited Service
Not Limited Service: 1
Construction
Other - See Remarks: 1
Commercial Type
Investment: 1
Business Type
Other: 1
Income & Expenses
Gross Income: 11520
Water Description
None: 1
Sewer Description
None: 1
Manufactured Homes
No HUD Tag: 1
Contract Information
Current Price: $150,000
List Price: $150,000
List Date: 2026-04-22
Status: Active
Property Features
Limited Service: Not Limited Service
Commercial Type: Investment
Business Type: Other
Construction: Other - See Remarks
Manufactured Homes: No HUD Tag
Water Description: None
Sewer Description: None
Supplements
If you've been looking for a simple, income-producing asset or a way to control your own parking in a tight market, this is one worth paying attention to. According to plat surverys, this property has been a vacant lot since 1930. For more information visit woltz.com or call Woltz & Associates Inc. at (540) 342-3560

Listing Office: WOLTZ & ASSOCIATES

Last Updated: April - 22 - 2026

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