Salem West Main | Medical Investment
Extra Pad for Future Development
Listing Contacts
License: VA VA 0225210868
Active
Asking Price: $1,425,000
Address
1618 W Main St, Salem, VA 24153
Show on MapDate Added
Dec 5, 2023
Days on Market
503 days
Time Since Last Update
6 days
Details
Property TypeOffice
SubtypeTraditional Office, Medical Office, Creative Office
Investment TypeStabilized
ClassA
Lease TypeModified
TenancyMulti
Square Footage7,416
Price/Sq Ft$192.15
Cap Rate5.00%
Occupancy100%
NOI$71,272
Units3
Year Built2009
Year Renovated2023
Buildings1
Stories2
ZoningHBD
Lot Size (acres)1.44
Broker Co-OpYes
INTELLIGENCEMarketing Description
Presented for sale by Stephen Pendergrass of Poe & Cronk Real Estate Group - 1618 W Main Salem, VA is a 7,500sf multi-tenant professional office building featuring a dentist office as the anchor tenant.
1618 W Main is located on the highly sought after W Main commercial corridor. Total acreage is 1.44 acres with ample parking and large developable pad for future expansion.
Investment Highlights
- Multiple tenants
- Solid construction w durable materials
- Large parking area
- Expandable footprint
- Market: Roanoke Valley
- Submarket: SW Virginia
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$71,272.00
$5,939.33/mo
Valuation Metrics
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0
DSCR
5%
Cap Rate
5%
ROI
Due Diligence
Listing Contacts
- License: VA VA 0225210868
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Additional Information
Additional Information
Broker Name
Stephen Pendergrass
Broker License
VA VA 0225210868
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