1101-1109 Electric Rd - Medical FOR SALE


Salem, VA 24153
$995,000 USD
540-354-6456
1101-1109 Electric Rd, Salem, VA for Sale
$995,000 USD
Medical - FOR SALE
1/21
null | 6.12% Cap Rate

1101-1109 Electric Rd
Salem, VA 24153


HIGHLIGHTS

  • 5,163 SF Multi-Tenant Professional Office Building
  • Medical & Professional Office Use
  • Stable In-Place Income With Future Rent Growth
  • Located Along Electric Road Commercial Corridor
  • Built in 2004 With Modern Construction
  • Stable In-Place Income With Future Rent Growth

OVERVIEW

Positioned along the well-traveled Electric Road corridor in Salem, Virginia, this ±5,163 SF professional office building offers investors a stable multi-tenant asset within one of the region’s primary commercial corridors. Constructed in 2004 and situated on approximately ±0.62 acres, the property features two office suites designed to accommodate professional and medical office users. The building offers modern construction, efficient layouts, ample natural light, and dedicated on-site parking for tenants and visitors. Currently leased to two established professional tenants, including a medical office user, the property provides consistent in-place income while offering future rental growth potential as leases roll to market rates. Its location along Electric Road places it within close proximity to retail centers, restaurants, and major transportation routes connecting Salem and the greater Roanoke Valley.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$194 USD /SF

CAP RATE

6.12%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Tenant Professional / Medical Office Bu

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

HBD

APN/PARCEL ID

221-1-4.1

ASK ABOUT THIS PROPERTY

Jason FountainInvestors Real Estate PartnersMore Info
540-354-6456

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Jason FountainInvestors Real Estate PartnersMore Info
540-354-6456

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.