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Listed by GAVIN MILES HOLLINGSWORTH EDWIN C HALL ASSOCIATES INC
$624,950
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 918177
HOA Y/N No
Year Built 1954
Annual Tax Amount $3,600
Acres 0.87
Property Sub-Type Commercial
Source Roanoke Valley Association of REALTORS®
Property Description
Investment property for sale. It is strategically located along the main corridor linking Salem and Roanoke. This premier property offers great exposure and accessibility. The building is comprised of approximately 6,143 square feet situated on roughly 0.87 acre. It has over 400 feet of road frontage and a daily traffic flow exceeding 21,000+ vehicles. Improvements made by the current owner include a new roof, fresh exterior paint, and cosmetic upgrades; which have enhanced the property's appeal. The sole occupying tenant, Blue Ridge Hydroponics, is a locally owned small business dedicated to educating the community and consumers on growing techniques to foster independence and sustainability. The tenant is in it's first year of a five-year lease which has annual rent escalations. The investment ensures easy management and stable returns.
Location
State VA
County City Of Salem
Area 0.87
Zoning HBD
Direction From Interstate 81, Exit 141 onto N Electric Road. Travel almost 4 miles and turn Left onto Apperson Drive.
Interior
Fireplace No
Exterior
Parking Features On Site
Garage No
Building
Sewer Private Sewer
Water Private Well
New Construction No
Others
Tax ID 279-1-1
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Lisa Santacaterina
Broker Associate License ID: 0225244158
Broker Associate License ID: 0225244158