Major surrounding stores include Ashley Furniture, Dick's Sporting Goods, Best Buy, Grand Home Furnishings, Walmart, and Target.

During a flight into Roanoke–Blacksburg Regional Airport (then called Woodrum Field) in 1976, Charlotte, North Carolina–based developer Henry Faison noticed the property and immediately realized its prime location beside I-581/US 220 and a short distance from I-81.

Anchor tenants were Sears, JCPenney, Leggett (now Belk), Miller & Rhoads (later Montgomery Ward), and Thalhimer's (later Hecht's; now Macy's).

Along the mall's access and ring road were free-standing locations of Roanoke-based electronics retailer Holdren's (later Havertys, to be replaced by DSW and Michaels), home improvement warehouse Hechinger (later a Rack & Sack grocery store; now Dick's Sporting Goods), Toys "R" Us, Chi-Chi's (now TGI Fridays), and Olive Garden.

In recent years, Valley View Mall has attracted prominent national retailers including Eddie Bauer and Old Navy.

[citation needed] A lifestyle center is being built in stages on a portion of what was the parking lot near the JCPenney and Sears entrances to the mall, with most of the freestanding dining locations now complete.

The development is called "The District at Valley View", and features Barnes & Noble, various fashion retailers, and restaurants including Carrabba's Italian Grill, Abuelo's Mexican Food Embassy, and Panera Bread.

Some local teens, who complained of a lack of entertainment alternatives in Roanoke, protested the decision as group penalization for the actions of a minority, and planned a boycott of the mall.