1929 Apperson DrSalem, VA 24153

Property Details for 1929 Apperson Dr

Year built

1954

Lot size

0.87 AC

Property size (Sq ft)

6,143 SF

Zone code

HBD

Property type

Other commercial real estate

APN

279-1-1

APU

27911

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $771,424

  Hospitality

  $706,620

  Educational

  $587,900

  Medical

  $608,119

  Retail

  $914,511

Location Insight

City

Salem

County

Salem

State

Virginia

Latitude

37.268

Longitude

-80.0265

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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