Apartment Acquisitions · Roanoke
Sell Your Commercial Property In Roanoke, VA
We are an active buyer of Roanoke commercial rental properties with five or more units, whether the building is fully leased, half vacant, or overdue for renovation.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Roanoke Submarkets: Salem · Vinton · Grandin Village · Cave Spring
Why Roanoke
Why We Buy Multifamily In Roanoke
Roanoke, VA is a mid-size independent city with an older rental stock and rents well below the Virginia median. Renter households hold 20,723 of Roanoke's 43,575 occupied homes, or 47.6%, in the Census Bureau's 2020-2024 American Community Survey. The same survey puts Roanoke's median gross rent at $996 a month, against $1,579 statewide.
Owners who plan to sell commercial property in Roanoke, VA work under a few local terms. Roanoke taxes real estate at $1.22 per $100 of assessed value and reassesses every parcel annually, with notices mailed each January. Roanoke's median housing unit was built in 1958, and 77.6% of units predate 1980.
Demand centers on Carilion Clinic, which reported 14,980 employees in fiscal 2024 and is headquartered in Roanoke. Virginia Tech's main campus sits 38 miles southwest in Blacksburg, while its Fralin Biomedical Research Institute operates in Roanoke. We review 5+ unit buildings in Grandin Village, Salem, Vinton and Cave Spring.
Carilion Clinic headquarters
Carilion Clinic, headquartered at 1 Riverside Circle in Roanoke, reported 14,980 employees, seven hospitals and 1,041 beds in its fiscal 2024 fast facts.Virginia Tech's Roanoke campus
Virginia Tech's main campus is in Blacksburg, 38 miles southwest. Its Fralin Biomedical Research Institute in Roanoke lists nearly 700 personnel and about 250,000 square feet of research space.Rents below state median
Roanoke's median gross rent was $996 a month in the 2020-2024 ACS, 63.1% of Virginia's $1,579 median, while median household income was $55,378.Our Buy Box
What We Buy In Roanoke
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Roanoke Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Roanoke, VA
Renters occupy 47.6% of Roanoke's 43,575 occupied homes, according to the Census Bureau's 2020-2024 American Community Survey. That share equals 20,723 renter households. Virginia's renter share was 32.7% in the same ACS release, and neighboring Roanoke County stood at 24.3%.
Roanoke is an independent city, so no county sits above it and this page lists no county. Census treats Roanoke as its own county-equivalent, GEO 0500000US51770, and its city and county-equivalent figures are identical. Comparisons here therefore use Roanoke County, Salem city and Virginia.
Roanoke counted 98,355 residents in the 2020-2024 ACS. Carilion Clinic reported 14,980 employees and seven hospitals in its fiscal 2024 fast facts, with headquarters at 1 Riverside Circle in Roanoke. Next door, the Fralin Biomedical Research Institute at VTC lists nearly 700 personnel at 2 Riverside Circle.
Rents and affordability in Roanoke
Roanoke's median gross rent was $996 a month in the 2020-2024 ACS. Roanoke County's median was $1,224, Salem's was $1,133 and Virginia's was $1,579. Roanoke's median household income was $55,378, against $93,170 statewide.
Roanoke renters paying 30% or more of income on rent made up 41.9% of all 20,723 renter households, per ACS table B25070. Those paying 50% or more made up 19.9%. Virginia's 30%-or-more share was 45.3% in the same release.
HUD's FY2027 fair market rents set the two-bedroom standard for Roanoke at $1,464 a month. Roanoke falls within the Roanoke, VA HUD Metro FMR Area, per HUD's fair market rent program.
| Unit size | HUD FY2027 FMR, per month |
|---|---|
| Studio | $1,186 |
| One bedroom | $1,250 |
| Two bedroom | $1,464 |
| Three bedroom | $2,022 |
| Four bedroom | $2,447 |
Roanoke's FY2027 two-bedroom standard runs $468 above the city's $996 all-unit median gross rent. That median mixes every unit size, so the gap shows direction rather than a like-for-like premium.
Roanoke's apartment stock and building age
Roanoke has 10,892 housing units in buildings of five or more units, 22.2% of its 49,106 total units, per ACS table B25024. The comparable share is 14.7% in Roanoke County and 18.6% across Virginia.
Mid-size buildings lead Roanoke's apartment supply, with 3,962 units in 10-to-19-unit properties and 3,272 in 5-to-9-unit properties. Buildings of 20 to 49 units hold 1,633 Roanoke units, and those of 50 or more hold 2,025. Another 5,790 units sit in 2-to-4-unit properties.
Roanoke's median housing unit was built in 1958, per ACS tables B25034 and B25035. Roanoke County's median is 1978 and Virginia's is 1984. Units built before 1980 make up 77.6% of Roanoke's stock, or 38,114 units, and only 2,040 date from 2010 or later.
Roanoke's rental vacancy rate was 7.4% in the 2020-2024 ACS housing profile, against 4.8% statewide and 5.6% in Roanoke County. When owners sell commercial real estate in Roanoke, VA, buyers read that vacancy rate alongside the 1958 build year.
Property taxes on Roanoke, VA apartment buildings
Roanoke taxes real estate at $1.22 per $100 of assessed value, per the City of Roanoke tax information page. Bills are due in halves on April 5 and October 5. A 10% penalty applies to late payments.
Roanoke City Code § 32-40 requires annual assessment of all taxable real estate, per the Office of Real Estate Valuation. Va. Code § 58.1-3201 sets assessments at 100% of fair market value. Roanoke mails assessment notices each January, per its assessment FAQs.
Roanoke appraisers apply the income approach primarily to commercial, industrial and multi-family properties, per the appraisal process page. The assessment review form asks owners of apartment and other income-producing property for an operating statement. The Circuit Court appoints the Board of Equalization each March, per the appeals page.
On a $2 million assessed value, Roanoke's $1.22 rate produces $24,400 of real estate tax a year, or $12,200 per half. Virginia's state recordation tax under § 58.1-801 is 25 cents per $100, or $5,000 on a $2 million deed. The grantor tax under § 58.1-802 is 50 cents per $500, or $2,000 on that sale.
Va. Code § 58.1-814 also lets a Virginia city impose a local recordation tax equal to one-third of the state tax. Roanoke's Rehabilitation/Renovation Program grants a 5- or 7-year exemption when a multifamily owner raises improvement value by 60% or more. The January notice and the latest two tax bills are the first records a buyer requests when owners sell commercial property in Roanoke, VA.
Landlord rules in Roanoke and Virginia
Virginia law sets Roanoke's residential leasing rules. Va. Code § 55.1-1201 applies the Virginia Residential Landlord and Tenant Act to all jurisdictions and bars any locality from waiving or modifying it. The same section supersedes all other local ordinances concerning landlord and tenant relations.
Virginia caps a security deposit at two months' periodic rent under § 55.1-1226. An itemized written deposit disposition is due within 45 days after the tenancy ends or the tenant vacates, whichever comes last.
A Virginia nonpayment notice gives the tenant 14 days to pay under § 55.1-1245. Either party may end a month-to-month tenancy with 30 days' written notice before the next rent due date under § 55.1-1253. Late fees are capped at the lesser of 10% of periodic rent or 10% of the remaining balance under § 55.1-1204.
Roanoke runs a rental inspection program under City Code Chapter 7, Article III, as Va. Code § 36-105.1:1 allows. Units in 16 designated areas, including Belmont, Gilmer, Hurt Park and Melrose/Rugby, must pass inspection at least once every four years to be rented. A passing unit receives a four-year Certificate of Compliance.
Selling commercial property in Roanoke: what owners weigh first
Three Roanoke figures shape the price of an apartment building here. The tax rate is $1.22 per $100, 77.6% of housing units predate 1980, and rental vacancy runs 7.4%. Owners who want to sell commercial property in Roanoke, VA should have an answer on each before talking cap rates.
Skyline Capital Investments buys 5+ unit apartment buildings in Grandin Village and across Roanoke, plus Salem, Vinton and Cave Spring. To sell multifamily property in Roanoke, run your figures through our cap rate calculator, then send the building details through our seller page. Buildings inside a rental inspection area, or carrying deferred roofs and wiring, are welcome.
Seller Notes
Pricing Your Building In Roanoke
More about selling in Virginia →Investing in Roanoke? See apartment syndications in Roanoke →
- Roanoke's $1.22 per $100 rate produces about $24,400 a year in real estate tax on a $2 million assessed value, billed in April and October halves.
- Owners who sell commercial real estate in Roanoke, VA should expect buyers to price a 1958 median build year and 77.6% pre-1980 stock into reserves.
- Units in Roanoke's 16 rental inspection areas must pass inspection at least once every four years and then hold a four-year Certificate of Compliance.
- Before you sell multifamily property in Roanoke, note that the renovation exemption requires multifamily owners to raise improvement value by 60% or more.
Seller Guides
Selling A Building In Roanoke
Learn More
Taxes & Rules For Roanoke Property
The Virginia rules that shape any deal in Roanoke: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Roanoke Seller FAQ
How do I sell commercial property in Roanoke, VA without listing it?
Gather the rent roll, the trailing 12-month operating statement, the two most recent Roanoke tax bills and the January assessment notice. Those documents let a buyer price a Roanoke building without a public listing. We review the figures, walk the property and count the units against our five-unit minimum. If you want to sell your apartment building in Roanoke privately, those four items are the starting point.
Does Roanoke, VA have rent control?
Virginia law governs residential leasing in Roanoke. Va. Code 55.1-1201 applies the Virginia Residential Landlord and Tenant Act to every jurisdiction and bars any locality from waiving or modifying it. The same section supersedes all other local ordinances or regulations concerning landlord and tenant relations and the leasing of residential property. That section still allows local property maintenance ordinances, and Roanoke runs a rental inspection program in designated areas.
What are apartment property taxes in Roanoke, VA?
Roanoke taxes real estate at $1.22 per $100 of assessed value, and Virginia requires assessment at 100% of fair market value. On a $2 million assessed value that comes to $24,400 a year, due in halves on April 5 and October 5. Roanoke appraisers value multi-family buildings primarily with the income approach, so net operating income drives the number.
If I sell commercial real estate in Roanoke, VA, how is the building assessed afterward?
Roanoke reassesses all taxable real estate every year under City Code 32-40, so a new owner receives the same January notice as every other parcel. Roanoke's assessment FAQs say values follow sale prices of similar properties when those sales show new trends. Apartment buildings are valued mainly by the income approach, and a review request should include an operating statement.
Do you buy Roanoke apartment buildings inside a rental inspection area?
Yes. Roanoke's rental inspection program covers 16 designated areas, including Belmont, Gilmer, Hurt Park and Melrose/Rugby. Units there must pass inspection at least once every four years and then receive a four-year Certificate of Compliance. We price the repairs needed to pass up front, and we buy 5+ unit buildings in any condition across Roanoke, Salem, Vinton and Cave Spring.
What if my Roanoke building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Virginia?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Roanoke with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Roanoke?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Have A Property In Roanoke?
A few details are enough to start. We respond to every Roanoke submission, including off-market and pocket listings.
