For Sale
$650,000

1929 Apperson DrSalem, VA 24153

High-yield retail storefront, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 6,143 square foot storefront located at 1929 Apperson Dr, Salem, VA 24153. Situated on a highly visible corner lot with over 300 feet of road frontage, this property benefits from a daily traffic count exceeding 21,600 vehicles, ensuring optimal exposure. The building, constructed in 1954, has recently undergone significant improvements, including roof replacement, fresh paint, and cosmetic upgrades, enhancing its value and appeal. Currently operating under a long-term, single-tenant NNN lease with 100% occupancy, this property offers a projected cap rate of 7.75%, making it an attractive addition to any investment portfolio. Its strategic location on a primary thoroughfare between Salem and Roanoke provides easy access and strong visibility. The multi-functional space offers flexibility for future uses. Operational information is readily available. This is a turnkey investment opportunity with a strong tenant and excellent location.

Highlights

  • 7.75% Projected Cap Rate
  • Single-tenant, 100% occupied sale
  • Excellent visibility, over 300' of road frontage on a high-traffic corner lot (21,600+ VPD)
  • Prominent location with easy access between Salem and Roanoke
  • Multi-functional 6,143 SF storefront
  • Recent renovations including roof replacement and cosmetic upgrades

Property Details for 1929 Apperson Dr

Property type
Retail properties, Retail space
Square Feet
6,143 SF
Year Built
1954

Location Insight

City
Salem
County
Salem city
State
Virginia
Latitude
37.26800637
Longitude
-80.02668749
1929 Apperson Dr, Salem, Virginia

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1929 Apperson Dr
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