135 Salem AVE SW, Roanoke, VA 24011
New Listing
$1,795,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
3,485
Status:
Active
Current Price:
$1,795,000
List Date:
2/09/2026
Last Modified:
2/09/2026
Description
135 W Salem Avenue is an investment opportunity in the heart of Downtown Roanoke. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside.
The property features ground-floor commercial space positioned for strong visibility on the corner of Salem Ave and 2nd Street. Above the commercial space are nine residential units served by an elevator.
135 W Salem delivers immediate and diversified cash flow, supported by a mix of long-term residents and short-term executive tenants. The short-term units cater primarily to executive and traveling healthcare professionals. a tenant base that continues to grow alongside Roanoke's expanding medical and technology sectors.
More Information MLS# 924529
General Property Description
Lot Dimensions: 30 x 140
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 0.08
# Furnished: 6
# Unfurnished: 4
# Leased Units: 10
Gross Bldg SQFT: 15676
Basement Y/N: No
Water Class: N/A
Parking Description: Off Site
Gross Income: 206695
Year Built: 1906
Number of Units: 10
Operating Expense: 73627
Net Operating Income: 133068
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Lot: 5 & 6
Block: 4
Tax ID: 1010404
Annual Taxes: 16922
Section: SW 1
Zoning Code: D
POA Y/N: No
Area: 0110 - City of Roanoke - Downtown
Street Number: 135
Street Name: Salem
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24011
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Highland Park
Middle School: James Madison
High School: William Fleming
Remarks & Misc
Directions: Located on Salem Ave in Downtown Roanoke's CBD and a short drive from I-581
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Heating
Forced Air Electric: 1
Heat Pump Electric: 1
Cooling
Central Air: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Owner Expenses
Sewer: 1
Water: 1
Tenant Expenses
Cable TV: 1
Deposit: 1
Electricity: 1
Contract Information
Current Price: $1,795,000
List Price: $1,795,000
List Date: 2026-02-09
Status: Active
Property Features
Limited Service: Not Limited Service
Construction: Brick
Heating: Forced Air Electric; Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Owner Expenses: Water
Tenant Expenses: Cable TV; Deposit; Electricity
Listing Office: POE & CRONK REAL ESTATE GROUP
Last Updated: February - 09 - 2026
All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.