Add Listing
    For Sale
    • 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

    201 Electric Rd Salem Salem, VA 24153

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,595,000

    7,980 SF building on 1.26 acres, prime corner location.

    Type:Retail
    Property size:
    7,980 SF
    Added:
    Sep 25, 2025
    Days on Market:
    195
    Last Refresh:
    Apr 6 at 12:50 am

    Property Features for 201 Electric Rd Salem

    General Information

    Standard status
    Active
    Size
    7,980 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    Thom Hubard, CCIM
    Thom Hubard, CCIM

    Listing agent Thom Hubard, CCIM License #VA #0225020834

    Listing office Poe & Cronk Real Estate Group

    Listing date Sep 25, 2025

    Source Tcnworldwide

    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

    Overview

    Restaurant/Retail Building on Corner Lot

    This 7,980 sq. ft. stand-alone building is situated on a 1.26-acre parcel. The property features a fully equipped kitchen and a parking lot with space for 100 vehicles. Located on a signalized corner with frontage on Electric Rd, the property benefits from high visibility. It is located off Electric Rd at the corner of Springfield Rd and Electric Rd. The property is suitable for restaurant or retail use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    Virginia
    Longitude
    -80.0282
    Latitude
    37.2953

    Nearby Similar for Sale

    • $495,000

      Salem Commercial Building For Sale

      Well-maintained commercial building suitable for office, service, or retail.
      904 Apperson Dr, Salem, VA 24153
      View Details
    • $995,000
      5,163 SF

      Salem, VA Office Building For Sale

      Multi-tenant office building in Salem's Electric Road corridor.
      1101 Electric Rd, Salem, VA 24153
      View Details
    • $670,000
      5,280 SF

      Salem Office | Manufacturing | Lab

      Well-appointed office and lab/manufacturing space in Salem.
      1405 Mill Race Dr, Salem, VA 24153
      View Details
    • $1,295,000
      9,200 SF

      Industrial Property with Two Buildings

      Two industrial buildings totaling 9,200 SF on 1.4 acres.
      3718 Garman Rd | Salem, VA 24153, VA 24153
      View Details
    • $495,000
      1,455 SF

      Well-Maintained Office/Retail Building For Sale

      Pristine building suitable for office, service, or retail use.
      904 Apperson Dr, Salem, VA 24153
      View Details
    • $2,070,357
      19,941 SF

      Industrial, Retail

      327 S College Ave, Salem, VA 24153
      View Details
    • $1,795,000
      10,545 SF

      Retail Property with Highway Access

      Retail property featuring strategic location, high traffic, and ample parking.
      1650 Braeburn Dr, Salem, VA
      View Details
    • $1,350,000
      3,179 SF

      Salem Retail/Office Building For Sale

      Highly visible retail/office building at signalized intersection in Salem, VA.
      1432 Apperson Dr, Salem, VA 24153
      View Details
    • $1,795,000
      10,545 SF

      Salem Retail Space For Sale

      Retail space for sale with high visibility and accessibility.
      1650 Braeburn Dr, Salem, VA 24153
      View Details
    • Contact for pricing
      176,806 SF

      Retail Property in Salem, Virginia

      Large retail property available for sale in Salem, Virginia.
      1439 W Kimball St, Salem, VA
      View Details
    • $1,425,000
      7,416 SF

      Multi-Tenant Office Building For Sale

      7,500 SF multi-tenant office building on 1.44 acres.
      1618 W Main St, Salem, VA 24153
      View Details
    • $1,900,000
      1,104 SF

      Redevelopment Opportunity in Salem

      Hard corner in Salem's I-81 district south.
      1622 E Main St, Salem, VA
      View Details

    FAQs

    What type of property is this?
    Restaurant - 7,980 SF building on 1.26 acres, prime corner location.
    Where is this restaurant located?
    The property is located at 201 Electric Rd Salem Salem, 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: High‑traffic location on a signalized corner lot with frontage on Electric Rd.; Stand‑alone building with **7,980 sq. ft. of space.**; Large 1.26‑acre parcel.
    (540) 855-3646
    We can help!
    Listing Contact
    Thom Hubard, CCIM
    Thom Hubard, CCIM
    Real Estate License ID: VA #0225020834
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!