Property summary
This exceptional 2,187 square foot retail property, located at 1406 S Colorado St in Salem, Virginia (zip code 24153), presents a unique investment opportunity. The building, constructed in 1981 and extensively renovated in 2021, boasts a desirable drive-thru feature, making it ideally suited for a variety of uses including a bank, convenience store, or quick-service restaurant (QSR). The single-story structure offers 1,794 square feet of space, with a total net rentable area of 2,187 square feet. The asking price is $575,000, translating to a price per square foot of $320.51. The property is currently vacant and is offered under a triple-net (NNN) lease structure. Its prime location in Salem, VA, coupled with its modern amenities and versatile design, ensures strong potential for future income generation. The beautifully maintained brick exterior adds to its curb appeal and overall attractiveness. This is a rare opportunity to acquire a well-maintained, renovated commercial property with a drive-thru in a thriving Virginia market. Don't miss out on this chance to secure a valuable addition to your investment portfolio.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
LM · Salem, VAThe 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…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LM in Salem, VA.
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