Restaurant Building with
For Sale
$1,250,000
1940 W Main St, Salem, VA 24153
Restaurant building sold as-is following a partial gut, with prior use as a Bojangles and The Tokyo Express.
Property SizeContact for details
Days on Market439
Property Features for 1940 W Main St
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$10,186
Building Details
Year Built
1983
Listing Agency:
JMAX PROPERTY MANAGEMENT LLC
(540) 343-9284
Listed By:
NEAL C WALL
(540) 309-3924
Source:
Exprealty
Added: Jun 26, 2025
Changed: Sep 6
Last Checked: Sep 7 at 12:37PM
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 JMAX PROPERTY MANAGEMENT LLC
Investment Insights
Based on property information with market context.
This restaurant building was previously operated as a Bojangles starting in 1983 and later as The Tokyo Express. The property has been mostly gutted and is being sold “as is, where is,” offering a blank-slate opportunity to convert the space for a new restaurant concept.
The property is offered for sale, and the public remarks note it is also available for a net lease at $100,000 per year.
Because the sale is structured as-is following a significant interior scope, prospective users should plan on completing the necessary buildout to support their intended restaurant operations.
The property is offered for sale, and the public remarks note it is also available for a net lease at $100,000 per year.
Because the sale is structured as-is following a significant interior scope, prospective users should plan on completing the necessary buildout to support their intended restaurant operations.
Key Highlights
- Restaurant building previously used as a Bojangles (since 1983).
- Most recently operated as The Tokyo Express.
- Property is listed as‑is where‑is following a partial gut (mostly gutted).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building sold as-is following a partial gut, with prior use as a Bojangles and The Tokyo Express.
Where is this conventional restaurant located?
The property is located at 1940 W Main St Salem, VA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Restaurant building previously used as a Bojangles (since 1983).; Most recently operated as The Tokyo Express.; Property is listed as‑is where‑is following a partial gut (mostly gutted).
