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Property profile & analytics
FOR SALE
Retail space

1808 Salem Rd Virginia Beach, VA 23456

14,364 SF 2.96 ac lot Built 2005
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-0639271
Property summary
AI-generated overview

This exceptional Class A, 14,364-square-foot freestanding retail building presents a unique investment opportunity in Virginia Beach, VA. Situated on a 2.95-acre lot at the signalized intersection of Salem Road and Independence Boulevard, this single-tenant property boasts a prominent location within the densely populated Salem/Lynnhaven area. The building features a convenient drive-thru, enhancing its appeal to a wide range of potential tenants. Its strategic placement offers excellent visibility and accessibility, complemented by monument signage. The property benefits from high traffic counts, exceeding 16,500 vehicles per day on S. Independence Boulevard and 15,608 vehicles per day on Salem Road. Nearby key establishments include a Walmart Supercenter, Home Depot, and the Tidewater Community College campus on Princess Anne Road, ensuring a strong customer base and high foot traffic. The entire building is currently vacant, providing a blank canvas for a new tenant or a chance to lease to multiple tenants. This property offers a compelling combination of size, location, and visibility, making it an ideal investment for discerning buyers seeking a high-impact retail presence in a thriving market. The property's address is 1808 Salem Rd, Virginia Beach, VA 23456.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2005
Construction TYPE NOT SPECIFIED
Total area 14,364 SF
Lot 2.96 ac (129,025 SF)
Zoning code B2
APN 14759249540000
UPID US87-0639271
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
Current use
Occupant on record · Public records
  • LibertyX Bitcoin ATM Atm
  • Margaret H. Walker, Margaret Pharmacy
  • Western Union Bank Credit Union
  • Coinhub Bitcoin ATM Teller Atm
  • Lee J. Euston, RPh Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.97M
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.38M
Owner & transaction history
1808 Salem LLC · 13 yrs held
1808 Salem LLC
since 2013
4 recorded transactions
2013
$4.1M
2005
$5.5M
2004
Price N/A
2004
$1.5M
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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