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    141 Electric Rd Salem, VA 24153

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    For Lease
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    Vibrant shopping center anchored by Kroger in Salem, Virginia.

    Property size:
    2,450 SF
    Lot size:
    9.69 Acres

    Property Features for 141 Electric Rd

    General Information

    Size
    2,450 SF
    Lot size
    9.69 Acres

    Source: Phillips Edison & Company - Corporate Agent Mark Porter

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Space in Salem Center

    This retail space is located in a shopping center anchored by Kroger. The location is near Roanoke College and the Salem Red Sox. Situated at the intersection of Main Street (U.S. 460) and Electric Road (State Route 419), the location benefits from a traffic volume of 34,400 ADT. The surrounding area has a population of over 51,600 within a three-mile radius, with an average household income exceeding $79,000. Key national tenants in the center include Subway and Great Clips, with Starbucks, AT&T, and McDonald's as outparcel tenants. The property is located five miles west of the Roanoke Regional Airport and Valley View Mall. The available space is 2,450 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hibachi Express Japanese Restaurant

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Ridgewood Farms Shopping Center, Valley Commons

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    Virginia
    Longitude
    -80.0289603
    Latitude
    37.297588

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    FAQs

    What type of property is this?
    Shopping center - Vibrant shopping center anchored by Kroger in Salem, Virginia.
    Where is this shopping center located?
    The property is located at 141 Electric Rd Salem, VA.
    What are key features of this property?
    This property features: - Anchored by Kroger, the dominant grocer in the market.; - Located at a busy intersection (34,400 ADT) of Main Street (U.S. 460) and Electric Road (State Route 419).; - High population density: Over 51,600 people live within three miles with an average household income of over $79,000.
    (513) 554-1110
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    141 Electric Rd Salem, VA 24153
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