1260 Electric Rd Salem, VA 24153
- Land
- 1.17 lot acres
Current Use by Public Records
- Land
Property Details for 1260 Electric Rd
- Lot size
- 1.17 lot acres
- Property type
- Land
Description
This exceptional 1.17-acre commercial lot, located at 1260 Electric Road in Salem, Virginia (APN 230-2-7), presents a unique investment opportunity. Zoned HBD (Highway Business District), this property boasts approximately 256 feet of road frontage on Electric Road/Route 419, a highly visible and desirable location with an annual average daily traffic count of 18,000 vehicles. Its strategic position offers easy access to Interstate 81 (just 3.5 miles away), placing it within convenient reach of a large regional market. The property's proximity to key amenities further enhances its appeal. It's situated near Lewis Gale Hospital, the Salem VA Medical Center, and thriving residential developments, ensuring a strong customer base and high visibility. Furthermore, its location is only a half-mile from the Salem Civic Center, providing additional exposure and potential for synergy. This newly re-zoned lot is the most desirable undeveloped and signalized lot on Route 419/Electric Road, offering a prime opportunity for development in a high-growth area. The asking price is $899,000. This is a rare opportunity to acquire a strategically located commercial parcel in a thriving Virginia community.
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
- -80.0368
- Latitude
- 37.2751
