1929 Apperson DR, Salem, VA 24153
$624,950
Property Type:
Commercial
Lot Size (sq. ft.):
37,897
Status:
Active
Current Price:
$624,950
List Date:
12/01/2025
Last Modified:
12/01/2025
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.
Supplements: The investment ensures easy management and stable returns.
More Information MLS# 918177
General Property Description
Construction Status: Completed
Total Acreage: 0.87
Road Frontage: 414
Traffic Count: 21000
Flood Area: No
Gross Lot SqFt: 38071
On site Parking: Yes
Basement Y/N: No
Water Class: N/A
Parking SqFt: 5000
Gross Building SqFt: 6143
Lease Available: No
Year Built: 1954
Location, Tax & Legal
Major Area: 03 - City of Salem
Tax ID: 279-1-1
Annual Taxes: 3600
Zoning Code: HBD
Area: 0300 - City of Salem
Street Number: 1929
Street Name: Apperson
Street Suffix: DR
State/Province: VA
Zip Code: 24153
Municipality: City of Salem
Remarks & Misc
Directions: From Interstate 81, Exit 141 onto N Electric Road. Travel almost 4 miles and turn Left onto Apperson Drive.
Limited Service
Not Limited Service: 1
Construction
Block: 1
Metal Siding: 1
Commercial Type
Investment: 1
Business Type
Type of Business (Historical Field): Retail
Sale Includes
Building & Land: 1
Income & Expenses
Gross Income: 60000
Gross Expenses: 9632
Water Description
Private Water: 1
Sewer Description
Private Sewer: 1
Manufactured Homes
No HUD Tag: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Contract Information
Current Price: $624,950
List Price: $624,950
List Date: 2025-06-12
Status: Active
Income Expenses
Net Operating Income: 50368
Property Features
Limited Service: Not Limited Service
Commercial Type: Investment
Sale Includes: Building & Land
Construction: Block; Metal Siding
Manufactured Homes: No HUD Tag
Water Description: Private Water
Sewer Description: Private Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Listing Office: EDWIN C HALL ASSOCIATES INC
Last Updated: December - 01 - 2025
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