Mixed-Use Corner
For Sale
$475,000
901 S Colorado St, Salem, VA 24153
Two completely remodeled commercial buildings offer retail/office space and fully leased residential units on a corner lot.
Property SizeContact for details
Days on Market464
Property Features for 901 S Colorado St
General Information
Standard status
Active
Zoning
commercial Business district
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,737
Building Details
Tenancy
Multi
Listing Agency:
MKB, REALTORS
(540) 293-2159
Listed By:
DAVID MCCRAY
(540) 293-2159
Source:
Exprealty
Added: May 16, 2025
Changed: Aug 20
Last Checked: Aug 21 at 1:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MKB, REALTORS
Investment Insights
Based on property information with market context.
This mixed-use corner property consists of two commercial buildings with combined retail/office and residential components. The building on Colorado features retail/office space on the first floor and a second-floor apartment. The Colorado building has been completely remodeled, includes hardwood floors throughout, and provides a two-bedroom, one-bath layout with central heat and A/C, plus a rear deck.
A second building on 7th St includes a month-to-month beauty salon tenant on the ground level and a leased residential apartment on the upper floor. Both buildings are on a corner lot with commercial exposure and include paved, striped parking.
The Colorado apartment is fully leased, while the beauty salon is on a month-to-month basis. The property is zoned for commercial Business district use, supporting a blend of retail/office and residential income within the same site.
A second building on 7th St includes a month-to-month beauty salon tenant on the ground level and a leased residential apartment on the upper floor. Both buildings are on a corner lot with commercial exposure and include paved, striped parking.
The Colorado apartment is fully leased, while the beauty salon is on a month-to-month basis. The property is zoned for commercial Business district use, supporting a blend of retail/office and residential income within the same site.
Key Highlights
- Two commercial buildings on a corner lot with retail/office and residential income potential
- Building on Colorado: 1,385 +/- SF retail/office first floor and 1,015 +/- SF apartment on the 2nd floor
- Apartment in Building on Colorado has 2 bedrooms, 1 bath, central heat and A/C, rear deck; fully leased
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 24153, VA
38,728
Population
16,387
Households
2.4
Avg Household Size
44
Median Age
30%
College-Educated
94%
High-School Grad
101.2 sq mi
ZIP Area
383
Density / Sq Mi
$72,691
Median Household Income
$39,851
Median Earnings
$1,058
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two completely remodeled commercial buildings offer retail/office space and fully leased residential units on a corner lot.
Where is this mixed-use property located?
The property is located at 901 S Colorado St Salem, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two commercial buildings on a corner lot with retail/office and residential income potential; Building on Colorado: 1,385 +/- SF retail/office first floor and 1,015 +/- SF apartment on the 2nd floor; Apartment in Building on Colorado has 2 bedrooms, 1 bath, central heat and A/C, rear deck; fully leased
