1406 Colorado StSalem, VA 24153

Property Details for 1406 Colorado St

Year built

1981

Lot size

0.42 AC

Property size (Sq ft)

1,736 SF

Zone code

LM

Property type

Commercial real estate

APN

234-2-1

APU

23421

Description

This exceptional 2,187 square foot retail property, located at 1406 S Colorado St in Salem, Virginia (zip code 24153), presents a unique investment opportunity. The building, constructed in 1981 and extensively renovated in 2021, boasts a desirable drive-thru feature, making it ideally suited for a variety of uses including a bank, convenience store, or quick-service restaurant (QSR). The single-story structure offers 1,794 square feet of space, with a total net rentable area of 2,187 square feet. The asking price is $575,000, translating to a price per square foot of $320.51. The property is currently vacant and is offered under a triple-net (NNN) lease structure. Its prime location in Salem, VA, coupled with its modern amenities and versatile design, ensures strong potential for future income generation. The beautifully maintained brick exterior adds to its curb appeal and overall attractiveness. This is a rare opportunity to acquire a well-maintained, renovated commercial property with a drive-thru in a thriving Virginia market. Don't miss out on this chance to secure a valuable addition to your investment portfolio.

Location Insight

City

Salem

County

Salem

State

Virginia

Latitude

37.2759

Longitude

-80.0536

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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