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    2005 Main St Salem, VA 24153

    Sponsored
    For Sale
    $179,950

    0.56-acre lot, prime Salem location. High traffic count.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 0.56-acre commercial land parcel presents a remarkable investment opportunity in Salem, Virginia. Strategically located at 2005 E Main St, this property boasts a prime location with high visibility and accessibility. Recently rezoned for High-Density Business (HBD) uses, the possibilities are vast, making it ideal for a diverse range of commercial developments, including retail, restaurant, or office spaces. The property's significant advantage lies in its proximity to major transportation arteries, with an annual average daily traffic count of approximately 14,000 vehicles passing by. Furthermore, its convenient location is approximately 2 miles from Interstate 81, ensuring excellent connectivity and accessibility for potential businesses and customers. The property's APN is 78-2-2.11. This is a rare opportunity to acquire a highly desirable commercial lot in a thriving area, poised for significant growth and development. The asking price for this exceptional property is $179,950. Don't miss this chance to secure a piece of Salem's vibrant commercial landscape.

    Property Features for 2005 Main St

    General Information

    Property type
    Land
    Lot Size
    24,394 SF

    HighLights

    • ±0.56 acres of developable land, recently rezoned HBD for retail, restaurant, or office.
    • Annual Average Daily Traffic (AADT) of approximately 14,000 vehicles.
    • Approximately 2 miles from I‑81.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Salem
    County
    Roanoke
    State
    Virginia
    Longitude
    -80.021552257727
    Latitude
    37.299566701897

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    FAQs

    What type of property is this?
    Land - 0.56-acre lot, prime Salem location. High traffic count.
    Where is this land located?
    The property is located at 2005 Main St Salem, VA.
    What is the asking price?
    The asking price for this property is $179,950.
    What are key features of this property?
    This property features: ±0.56 acres of developable land, recently rezoned HBD for retail, restaurant, or office.; Annual Average Daily Traffic (AADT) of approximately 14,000 vehicles.; Approximately 2 miles from I-81.
    (540) 309-9429
    Request Owner's contact information
    2005 Main St Salem, VA 24153
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    Salem, VA 24153
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    Realmo Value Estimation

    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.

    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.

    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
    2005 Main St Salem, VA 24153
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