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    Property profile

    141 Electric Rd Salem, VA 24153

    OFF-MARKET
    Super regional malls
    Property ID
    US87-0487068
    84,476 SF 9.69 ac lot Built 1989
    Entity Owned 15-yr Hold Free & Clear
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    Property summary

    AI-generated overview

    The property is a retail space within a shopping center anchored by Kroger. It is located near Roanoke College and the Salem Red Sox, at the intersection of Main Street (U.S. 460) and Electric Road (State Route 419), with stated traffic volume of 34,400 ADT. The center includes national tenants such as Subway and Great Clips, with Starbucks, AT&T, and McDonald's identified as outparcel tenants. The location is approximately five miles west of Roanoke Regional Airport and Valley View Mall. The available retail area measures 2,450 square feet.

    Property profile

    Verified
    Property type Super regional malls
    Use group REGIONAL SHOPPING CENTER, MALL
    Year built 1989
    Total area 84,476 SF
    Lot 9.69 ac (422,184 SF)
    Zoning code HBD
    APN 81-4-4
    UPID US87-0487068

    Cap rate & NOI

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

    Current use

    Occupant on record · Public records
    • Restaurant
    1 occupant on record

    Location

    141 Electric Rd Salem, VA 24153-4432
    Salem metro Census 10100 ROANOKE, VA METROPOLITAN STATISTICAL AREA
    Google Maps

    Value estimations

    Realmo proprietary · 4 methods
    AI Approach AI
    $415k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $415k

    Owner & transaction history

    since 2010
    2 recorded transactions
    2010
    $8.8M
    2009
    $6.8M

    Zoning & alternative use

    HBD · Salem, VA
    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

    General category COMMERCIAL

    Comparables

    6 recent transactions · within 1.5 mi
    Comparable in this city
    6 recent transactions

    Comparable in this City

    • Value Estimation
      $8,900,000
      65,275 SF
      1935 Electric Rd
      REGIONAL SHOPPING CENTER, MALL
      1935 Electric Rd, Salem, VA 24153
      View Details
    • Value Estimation
      $645,000
      20,160 SF
      1306 Main St
      REGIONAL SHOPPING CENTER, MALL
      1306 Main St, Salem, VA 24153-4708
      View Details
    • Value Estimation
      $580,000
      20,500 SF
      211 Electric Rd
      REGIONAL SHOPPING CENTER, MALL
      211 Electric Rd, Salem, VA 24153-4431
      View Details
    • Value Estimation
      $800,000
      88,087 SF
      1355 Main St
      REGIONAL SHOPPING CENTER, MALL
      1355 Main St, Salem, VA 24153-4707
      View Details
    • Value Estimation
      $745,000
      178,638 SF
      1851 Main St
      REGIONAL SHOPPING CENTER, MALL
      1851 Main St, Salem, VA 24153-3111
      View Details
    • Value Estimation
      $285,000
      5,264 SF
      1601 Lynchburg Tpke
      REGIONAL SHOPPING CENTER, MALL
      1601 Lynchburg Tpke, Salem, VA 24153-5409
      View Details

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    • $1,595,000
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      Stand-Alone Retail Building with Kitchen
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    Similar Nearby for Lease

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      Retail Space in Lakeside Plaza
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    • New
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      1,971 sqft
      Grocer-Anchored Retail Center Suites
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      3,791 sqft
      Courtyard Office Suites in Retail Center
      Courtyard office suites are available within a grocer-anchored shopping center on Salem’s main retail corridor.
      1477-1486 W Main St, Salem, VA 24153
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    Recent comparable sales
    Sale price & price/SF · Sale date & distance · Adjustments & confidence
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