Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2105-2119 Apperson Dr Salem, VA 24153

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Renovated 2,250 SF space suitable for various business uses.

    Property size:
    2,250 SF
    Lot size:
    1.16 Acres

    Property Features for 2105-2119 Apperson Dr

    General Information

    Size
    2,250 SF
    Lot size
    1.16 Acres

    We can help!

    Listing Contact
    Zack May
    Zack May
    Source: Moodyscre

    Listing Agency: Poe & Cronk Real Estate Group Listing Agent: Zack May

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

    Learn more

    Overview

    Turn-Key Ready End Cap Space

    The property at 2105-2119 Apperson Dr, Salem, VA, features a 2,250 square foot end cap space. This highly sought-after space is turn-key ready and has been recently renovated. The property has been newly rezoned to allow a vast array of uses, making it suitable for various business operations.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    Virginia
    Longitude
    -80.021429
    Latitude
    37.2652885

    Nearby Similar for Lease

    • $12 SF/Yr

      Salem Retail/Office Space Available

      Prominent Main Street location suitable for retail or office uses.
      107 W Main St, Salem, VA 24153
      View Details
    • Contact for pricing

      Retail/Office Center in Salem

      Retail/office center with excellent location, visibility, and ample parking.
      2105 Apperson Dr, Salem, VA 24153
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Salem Center

      Vibrant shopping center anchored by Kroger in Salem, Virginia.
      141 Electric Rd, Salem, VA 24153
      View Details
    • $12 SF/Yr
      5,000 SF

      Adaptable Commercial Property For Rent

      5,000 SF commercial property with flexible floor plan.
      1005 E Main St, Salem, VA 24153
      View Details
    • $12 SF/Yr
      2,000 SF

      Flex Industrial Condo For Lease

      Flex space/industrial condo for lease with easy access.
      94-116 Saint Johns Place Rd, Salem, VA 24153
      View Details
    • $14 SF/Yr
      176,779 SF

      Spartan Square Retail Center

      Salem, VA: Prime Retail Space Available
      1400 Main St, Salem, VA 24153
      View Details
    • $126 SF/Yr
      7,500 SF

      Prime Apperson Drive Office Space

      7,500 SF Office/Warehouse - Ready Now!
      358 Apperson Dr, Salem, VA 24153
      View Details
    • Contact for pricing
      45,120 SF

      Salem Retail Center: Prime Location

      High-traffic retail space, multiple units available.
      1300 Main St, Salem, VA 24153
      View Details
    • Contact for pricing
      4,085 SF

      Downtown Salem Office Space Available

      Two-story office building in the heart of Downtown Salem.
      306 E Main St, Salem, VA 24153
      View Details
    • Contact for pricing
      95,000 SF

      Salem Retail Center Opportunity

      High-visibility retail space available in Salem, VA.
      1355 Main St, Salem, VA 24153
      View Details
    • $4 SF/Yr
      414,000 SF

      Prime Salem Warehouse Space

      414,000 SF Warehouse - VA
      1501 Roanoke Blvd, Salem, VA 24153
      View Details
    • Contact for pricing
      39,580 SF

      Wildwood Plaza Retail Center

      High-traffic retail space for lease.
      36-50 Wildwood Rd, Salem, VA 24153
      View Details

    FAQs

    What type of property is this?
    Office units - Renovated 2,250 SF space suitable for various business uses.
    Where is this office units located?
    The property is located at 2105-2119 Apperson Dr Salem, VA.
    What are key features of this property?
    This property features: - Turn-key ready condition.; - Newly rezoned to allow a vast array of uses.; - Highly sought-after end cap space.
    (302) 448-9821 Call to check price and availability
    Request Owner's contact information
    2105-2119 Apperson Dr Salem, VA 24153
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2105-2119 Apperson Dr
    Salem, VA 24153
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2105-2119 Apperson Dr Salem, VA 24153
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zack May
    Zack May
    (302) 448-9821 (540) 982-2444 (540) 855-3643
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!