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Property profile & analytics
FOR LEASE
Super regional malls

1355 W Main St Salem, VA 24153

88,087 SF 7.1 ac lot Built 1989
Entity Owned 18-yr Hold Absentee Owner Free & Clear
Property ID
US87-0456488
Property summary
AI-generated overview

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 profile
Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1989
Total area 88,087 SF
Lot 7.1 ac (309,450 SF)
Zoning code HBD
APN 126-4-2
UPID US87-0456488
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$800k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$800k
Owner & transaction history
Ahva 1 LLC · 18 yrs held
Ahva 1 LLC
since 2007
2 recorded transactions
2021
Price N/A
2007
$4.7M
Zoning & alternative use
HBD · Salem, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

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

Zone name Highway Business District
General category COMMERCIAL
Zone area 756.27 ac
Source Realmo
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