Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$16,665,000
Super regional malls
1435 Main St Salem, VA 24153-3120
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-1190842
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1974
Total area
170,153 SF
Lot
13.22 ac (575,863 SF)
Zoning code
HBD
APN
126-3-14
UPID
US87-1190842
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.67M
Owner & transaction history
Kroger Limited Partnership I · 4 yrs held
Kroger Limited Partnership I
since 2022
Last sale
$16.5M
5 recorded transactions
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
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$16,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,335,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$16.67M
Range $15.00M – $18.33M · ±10% · vs last sale $16.50M (Jan 26 2022)
Last sale anchor
$16.50M
Jan 26 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$98 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$154,374
Tax year 2023
Assessed value
$12,864,500
Assessed 2023
Previous assessed
$11,797,000
+9.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$4,645,000
Assessed improvement
$8,219,500
Land market value
$4,645,000
Improvement market value
$8,219,500
Total market value
$12,864,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1974
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
170,153 SF
Lot
13.22 ac (575,863 SF)
Zoning code
HBD
APN
126-3-14
UPID
US87-1190842
Jurisdiction
SALEM CITY
Zoning & alternative use
HBD · Salem, VAZoning HBD · permitted uses
HBD · Salem, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · 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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$16.3M
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
13.22 ac
Current owner
From public records · entity-resolved
Kroger Limited Partnership I
Entity
Free & Clear · 4 yrs held
Mailing address
1045 S WOODS ML RD STE #1, TOWN AND COUNTRY, MO 63017-8362
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
—
Egap Salem I LLC
—
Deed
related
$12,257,250 · Traditional Bank INC
Jan 26, 2022
$2,554,136
Kroger Limited Partnership I
Egap Salem I LLC
Lease
—
Jan 26, 2022
$16,500,000
Egap Salem I LLC
Spartan Square Limited Partnership
Deed
$65,000,000 · The Huntington National Bank
Jan 26, 2022
—
Kroger Limited Partnership
Egap Salem I LLC
Ground Lease
related
—
Dec 20, 2021
—
Virginia Alcoholic Beverage Control
Spartan Square Limited Partnership
Lease
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1435 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
