Downtown Roanoke Mixed-Use
For Sale
$1,595,000
135 Salem Ave SW, Roanoke, VA 24011
10-unit property in prime downtown location with income streams.
Property Size15,676 SF
Days on Market169
Property Features for 135 Salem Ave SW
General Information
Standard status
Active
Size
15,676 SF
Property subtype
Multifamily
Building Details
Building Size
15,676 SF
Year Built
1906
Listing Agency:
Poe & Cronk Real Estate Group
(540) 520-3085
Listed By:
Stephen Pendergrass, SIOR, CCIM · License ##0225020834
(540) 520-3085
Source:
Tcnworldwide
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 22 at 3:38AM
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 Poe & Cronk Real Estate Group
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Roanoke, 135 W Salem Avenue presents an investment opportunity. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside. Situated on Salem Avenue at the corner of Salem Ave and 2nd Street, the property benefits from a prime downtown location, close to major employers, restaurants, and cultural destinations. The property offers a strong income stream derived from a mix of long-term and short-term tenants. The short-term units experience consistent leasing demand from executive and traveling healthcare professionals.
Key Highlights
- Prime Downtown Location: close to major employers, restaurants, and cultural destinations
- Strong Income Stream: diverse income from long‑term and short‑term tenants
- Proven Tenant Demand: short‑term units consistently leased to executive and traveling healthcare professionals
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 24011, VA
908
Population
645
Households
1.4
Avg Household Size
32
Median Age
83%
College-Educated
99%
High-School Grad
0.2 sq mi
ZIP Area
4,540
Density / Sq Mi
$55,882
Median Household Income
$50,599
Median Earnings
$1,091
Median Rent
$839,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 10-unit property in prime downtown location with income streams.
Where is this apartment building located?
The property is located at 135 Salem Ave SW Roanoke, VA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Prime Downtown Location: close to major employers, restaurants, and cultural destinations; Strong Income Stream: diverse income from long‑term and short‑term tenants; Proven Tenant Demand: short‑term units consistently leased to executive and traveling healthcare professionals
