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Property profile & analytics
OFF-MARKET
Estimated value
$8,900,000
Super regional malls
1935 Electric Rd Salem, VA 24153
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-0528804
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1985
Total area
65,275 SF
Lot
5.7 ac (248,379 SF)
Zoning code
HBD
APN
284-1-2.2
UPID
US87-0528804
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
$9.63M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.90M
Owner & transaction history
Mo Salem LLC · 5 yrs held
Mo Salem LLC
since 2021
Last sale
$8.5M
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
$8,970,000
ML approach
$9,630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,265,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$8.90M
Range $8.01M – $9.79M · ±10% · vs last sale $8.50M (Jul 19 2021)
Last sale anchor
$8.50M
Jul 19 2021
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
$136 / 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
$75,001
Tax year 2023
Assessed value
$6,250,100
Assessed 2023
Previous assessed
$5,910,900
+5.7% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,770,400
Assessed improvement
$4,479,700
Land market value
$1,770,400
Improvement market value
$4,479,700
Total market value
$6,250,100
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
1985
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
65,275 SF
Lot
5.7 ac (248,379 SF)
Zoning code
HBD
APN
284-1-2.2
UPID
US87-0528804
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
$6.3M
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
1985
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
5.7 ac
Current owner
From public records · entity-resolved
Mo Salem LLC
Entity
Mailing address
8044 MONTGOMERY RD STE #370, CINCINNATI, OH 45236-2923
Ownership since
2021
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
Jul 19, 2021
$8,500,000
Mo Salem LLC
Wood Salem Center LLC
Special Warranty Deed
$5,950,000 · Wells Fargo Bank NA
Sep 22, 2015
$735,000
Wood Salem Center LLC
Ridgewood Improvements LLC
Special Warranty Deed
$24,349,600 · Pnc Bank NA
Dec 27, 2007
$7,325,000
Ridgewood Improvements LLC
Owner Name Unavailable
Grant Deed
related
—
Feb 4, 2004
—
Edens & Avant Financing
Edens & Avant Financing
Quit Claim Deed
related
—
—
—
Wood Salem Center LLC
—
Loan Modification
related
$4,810,000 · Pnc Bk
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.
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