1101 Electric RD, Salem, VA 24153
$995,000
Property Type:
Commercial
Lot Size (sq. ft.):
27,007
Status:
Active
Current Price:
$995,000
List Date:
3/06/2026
Last Modified:
3/06/2026
Description
Positioned along the well-traveled Electric Road corridor in Salem, Virginia, this ±5,163 SF professional office building offers investors a stable multi-tenant asset within one of the region's primary commercial corridors.
Constructed in 2004 and situated on approximately ±0.62 acres, the property features two office suites designed to accommodate professional and medical office users. The building offers modern construction, efficient layouts, ample natural light, and dedicated on-site parking for tenants and visitors.
Currently leased to two established professional tenants, including a medical office user, the property provides consistent in-place income while offering future rental growth potential as leases roll to market rates.
More Information MLS# 925213
General Property Description
Construction Status: Completed
Total Acreage: 0.62
Flood Area: No
On site Parking: Yes
Water Class: N/A
Lease Available: No
Year Built: 2004
Location, Tax & Legal
Major Area: 03 - City of Salem
Tax ID: 060002201
Annual Taxes: 7216
Area: 0300 - City of Salem
Street Number: 1101
Street Name: Electric
Street Suffix: RD
State/Province: VA
Zip Code: 24153
Municipality: City of Salem
Remarks & Misc
Directions: 1101 Electric RD, Salem, VA 24153
Limited Service
Not Limited Service: 1
Commercial Type
Investment: 1
Office: 1
Business Type
Medical: 1
Professional/Office: 1
Sale Includes
Building & Land: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Manufactured Homes
No HUD Tag: 1
Contract Information
Current Price: $995,000
List Price: $995,000
List Date: 2026-03-06
Status: Active
Property Features
Limited Service: Not Limited Service
Commercial Type: Investment; Office
Business Type: Medical; Professional/Office
Sale Includes: Building & Land
Manufactured Homes: No HUD Tag
Water Description: Public
Sewer Description: Public Sewer
Listing Office: INVESTORS REAL ESTATE PARTNERS LLC
Last Updated: March - 06 - 2026
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