1355 W Main St Salem, VA 24153
For Lease
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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.
The HBD Highway Business District has been created to provide and allow a wide variety of commercial and service uses that are typically found along or near major transportation arterials
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
HBD · Salem, VAThe HBD Highway Business District has been created to provide and allow a wide variety of commercial and service uses that are typically found along or near major transportation arterials
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.