5030 Valley View BLVD NW, Roanoke, VA 24012

$2,190,000
Property Type: Commercial Baths: 2 Lot Size (sq. ft.): 43,996 Status: Closed
Current Price: $2,190,000 List Date: 2/11/2025 Last Modified: 6/24/2025

Overview

Description

Red Palace Chinese Restaurant is located in one of the most desirable locations in Roanoke, Valley View Mall. The breathtaking architectural design encompasses various elements that contribute to its overall aesthetic with vibrant colors, intricate pattern, and symbolic motifs that create a culturally rich ambiance. Surrounded by 5 hotels, Valley View Mall, theater, just minutes to Roanoke-Blacksburg Regional Airport and Interstate 581. Currently leased, 200 seats, 6,628 sq. ft., 93 parking spaces, 4 heat pumps, natural gas, public water and sewer, and 2 bathrooms. Perfectly situated on 1.1 acres. Beautiful custom-built bar.

Listing Details MLS# 914261

Location, Tax & Legal

Area
0150 - City of Roanoke - NE
Street Number
5030
Street Name
Valley View
Street Suffix
BLVD
Street Direction Sfx
NW
State/Province
VA
Zip Code
24012
Municipality
City of Roanoke
Major Area
01 - City of Roanoke
Subdivision Map
Valley View
Legal
T S Gulick Real Estate LLC
Tax ID
249-0121
Annual Taxes
24000
Zoning Code
MXPUD

General Property Description

Construction Status
Completed
Year Built
1997
Total Acreage
1.01
Flood Area
No
On site Parking
Yes
Parking Spaces
93
Gross Building SqFt
6376
Lease Available
Yes
Leaseable SqFt
6376
Basement Y/N
No
Total Bths
2
Water Class
N/A

Status Change Info

Ratified Contract Dt
2025-03-15
Sold Date
2025-06-23

Business Type

Type of Business (Historical Field)
Restaurant

Miscellaneous Info

Inventory Included
No

More Information

Remarks & Misc

Public Remarks
Red Palace Chinese Restaurant is located in one of the most desirable locations in Roanoke, Valley View Mall. The breathtaking architectural design encompasses various elements that contribute to its overall aesthetic with vibrant colors, intricate pattern, and symbolic motifs that create a culturally rich ambiance. Surrounded by 5 hotels, Valley View Mall, theater, just minutes to Roanoke-Blacksburg Regional Airport and Interstate 581. Currently leased, 200 seats, 6,628 sq. ft., 93 parking spaces, 4 heat pumps, natural gas, public water and sewer, and 2 bathrooms. Perfectly situated on 1.1 acres. Beautiful custom-built bar.
Directions
Located at Valley View Mall, Roanoke on Valley View Blvd beside Ashley Furniture Store. Hampton Inn & Suites is directly across the road.

Limited Service

Not Limited Service
Yes

Construction

Stucco
Yes

Commercial Type

Investment
Yes

Sale Includes

Building & Land
Yes

Heating

Electric
Yes

Cooling

Heat Pump
Yes

Water Description

Public
Yes

Sewer Description

Public Sewer
Yes

Manufactured Homes

No HUD Tag
Yes

Water Heater Type

Tank
Yes

Water Heater Energy

Natural Gas
Yes

Roof System

Other - See Remarks
Yes

Levels

One
Yes

Floors

Carpet
Yes
Tile
Yes

Topography

Level
Yes

Property Features

Limited Service: Not Limited Service Commercial Type: Investment Sale Includes: Building & Land Construction: Stucco Roof System: Other - See Remarks Levels: One Heating: Electric Cooling: Heat Pump Floors: Carpet; Tile Manufactured Homes: No HUD Tag Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Natural Gas Topography: Level
Listing Office: RE/MAX LAKEFRONT REALTY INC
Last Updated: June - 24 - 2025
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