For Sale
$1,425,000

1618 Main St Salem, VA 24153

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

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Office property - High-yield, multi-tenant office building in Salem, VA.
Where is the office property located?
The property is located at 1618 Main St Salem, VA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: High-visibility location on Salem's W Main St commercial corridor.; Strong cash flow potential.; Available expansion land.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1618 Main St
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