638 Chapman StSalem, VA 24153

Property Details for 638 Chapman St

Year built

1989

Property size (Sq ft)

38,800 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

This exceptional investment opportunity presents two adjacent, income-producing warehouses totaling 38,800 square feet in Salem, Virginia. The property consists of two single-story buildings, each approximately 19,000 square feet, situated on separate tax parcels and offering flexibility for individual sale. Currently operating at 100% occupancy with five separate rentable spaces under a modified lease agreement, this multi-tenant property provides a strong, stable income stream. Built in 1989, both buildings feature 24-foot ceilings, allowing for diverse uses, and four dock-high doors for efficient loading and unloading. The convenient location, just one block from the truck route and with easy access to I-81 and Electric Road, ensures excellent accessibility for tenants and transportation. The property is zoned LM and offers a compelling value-add opportunity for investors or owner-occupiers seeking a well-positioned industrial asset in a thriving market. The asking price for this entire portfolio is $2,550,000. This is a rare chance to acquire a fully leased, multi-tenant industrial property with significant upside potential.

Location Insight

City

Salem

County

Roanoke

State

Virginia

Latitude

37.2846

Longitude

-80.0579

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