Property profile

1342 Roanoke Blvd Salem, VA 24153

OFF-MARKET
Warehouses
Property ID
US87-0484283
66,522 SF 4.27 ac lot Built 1972
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional multi-tenant flex building, situated near the intersection of Roanoke Boulevard and Electric Road (Route 419), offers unparalleled access to the Roanoke, New River, and Shenandoah Valleys. Located within three miles of I-81, this property provides convenient transportation links throughout the region. Currently, one of eight suites is available, encompassing a substantial 6,650 square feet. This space boasts a spacious warehouse area complemented by approximately 1000 square feet of well-appointed office space. The office area includes two private offices, a kitchen, restroom facilities, a conference room, and a reception area. The warehouse features impressive 21+ foot ceilings and dock-high loading, a significant advantage for efficient operations. Uniquely, this suite is the only one in the building with a climate-controlled warehouse environment. A sizable truck court conveniently serves the rear of the property, while ample employee parking is available in the front. The larger building itself comprises 66,636 square feet of industrial flex space, is fully sprinklered, and underwent a complete renovation in 2006. Additional building features include 3-phase electric service and limited drive-in access. This is a rare opportunity to secure a well-maintained, strategically located flex space with exceptional amenities.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1972
Total area 66,522 SF
Lot 4.27 ac (185,914 SF)
Zoning code LM
APN 196-5-3
UPID US87-0484283

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1342 Roanoke Blvd Salem, VA 24153
Salem metro Census 10300 ROANOKE, VA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$4.85M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.76M
Blend (final) Blend
$4.57M

Owner & transaction history

since 2021
Last sale
$3.6M
4 recorded transactions
2021
$3.6M
2005
$1.4M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

LM · Salem, VA
Zoning description

The LM Light Manufacturing District is created to establish and preserve areas within the city that are suitable for business and light industrial uses. LM Light Manufacturing districts are the location of a significant…

General category INDUSTRIAL
Top alternative use upside
Commercial (general) $6.4M +107.0%
Industrial (general) $3.8M +23.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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