638 Chapman St Salem, VA 24153
- Warehouses
- 38,800 SF
Current Use by Public Records
- Warehouses
Property Details for 638 Chapman St
- Year built
- 1989
- Property size
- 38,800 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents two adjacent, income-producing warehouses totaling 38,800 square feet in Salem, Virginia. The property consists of two single-story buildings, each approximately 19,000 square feet, situated on separate tax parcels and offering flexibility for individual sale. Currently operating at 100% occupancy with five separate rentable spaces under a modified lease agreement, this multi-tenant property provides a strong, stable income stream. Built in 1989, both buildings feature 24-foot ceilings, allowing for diverse uses, and four dock-high doors for efficient loading and unloading. The convenient location, just one block from the truck route and with easy access to I-81 and Electric Road, ensures excellent accessibility for tenants and transportation. The property is zoned LM and offers a compelling value-add opportunity for investors or owner-occupiers seeking a well-positioned industrial asset in a thriving market. The asking price for this entire portfolio is $2,550,000. This is a rare chance to acquire a fully leased, multi-tenant industrial property with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Roanoke
- State
- Virginia
- Longitude
- -80.0579
- Latitude
- 37.2846
