For Sale
$1,425,000

1618 Main StSalem, VA 24153

High-yield, multi-tenant office building in Salem, VA.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A, 7,416 square foot medical and creative office building, located at 1618 W Main St, Salem, VA 24153, presents a compelling investment opportunity. Built in 2009 and extensively renovated in 2023, the property boasts a 100% occupancy rate across its three units, generating strong cash flow. The building features a modified lease structure and is situated on a 1.44-acre lot, providing ample parking. A significant advantage is the inclusion of an extra pad, ideal for future development and expansion, adding considerable long-term value. The property is a stabilized investment, classified as Class A, and benefits from its prime location on Salem's highly desirable West Main Street commercial corridor. The two-story building offers a mix of creative and traditional office spaces, currently occupied by multiple tenants, including a dentist office as an anchor tenant. The asking price is $1,425,000, translating to $192.15 per square foot. This property offers a rare combination of immediate income generation and significant future growth potential.

Highlights

  • High-visibility location on Salem's W Main St commercial corridor.
  • Strong cash flow potential.
  • Available expansion land.

Property Details for 1618 Main St

Property type
Office properties, Medical offices
Square Feet
7,416 SF
Class
A
Year Built/Renovated
2009/2023
Buildings
1
Stories
2
Units
3

Location Insight

City
Salem
County
Roanoke
State
Virginia
Latitude
37.2880137
Longitude
-80.0843606
1618 Main St, Salem, Virginia

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1618 Main St
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