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    1355 Main St Salem, VA 24153

    Sponsored
    For Lease
    Contact for pricing

    High-visibility retail space available in Salem, VA.

    Lot size:
    95,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 95,000 square foot retail center, formerly a Kmart, presents a unique investment opportunity in the thriving Salem, Virginia market. Located at 1355 W Main Street, zip code 24153, this redeveloped property boasts a prime location with excellent visibility and accessibility. Currently, a single junior anchor space of 2,800 square feet is available, along with several smaller shop spaces. The center enjoys a strong tenant mix, including established national retailers such as Tractor Supply, Planet Fitness, and American Freight Furniture. The property benefits from its proximity to major regional anchors like Kroger, Walmart, and Lowe's Home Improvement, ensuring high foot traffic and consumer visibility. Situated in Roanoke County, this retail center offers a strategic location within a densely populated area, providing significant potential for growth and return on investment. The property is classified as a shopping center with multiple tenancies. The building's total square footage is 95,000 square feet, with only 2,800 square feet currently vacant. This presents a rare chance to secure a prominent position in a well-established retail center in a high-demand location. The property's strategic placement and existing tenant base make it an attractive proposition for businesses seeking a strong foothold in the Salem market.

    Property Features for 1355 Main St

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    95,000 SF

    Unit(s) available at that property

    Space
    Space 2
    Size
    2,800 SF

    HighLights

    • 2,800 SF of small shop space available.
    • 12,000 SF of junior anchor space available.
    • Prime Salem, VA location within a major Roanoke metro area shopping corridor.
    • High traffic count exceeding 26,000 vehicles per day at West Main St. and Spartan Drive intersection.
    • Proximity to Roanoke College and Salem Veterans Administration Hospital.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Salem
    County
    Roanoke
    State
    Virginia
    Longitude
    -80.0795088
    Latitude
    37.2914431

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    FAQs

    What type of property is this?
    Lifestyle center - High-visibility retail space available in Salem, VA.
    Where is this lifestyle center located?
    The property is located at 1355 Main St Salem, VA.
    What are key features of this property?
    This property features: 2,800 SF of small shop space available.; 12,000 SF of junior anchor space available.; Prime Salem, VA location within a major Roanoke metro area shopping corridor.
    Request Owner's contact information
    1355 Main St 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
    1355 Main St Salem, VA 24153
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