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$575,000
515 Electric RD
Salem, VA 24153
MLS# 858583



515 Electric RD, Salem, VA 24153
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515 Electric RD, Salem, VA 24153 515 Electric RD, Salem, VA 24153 515 Electric RD, Salem, VA 24153

Property Description
Total of 14,125 SF spread over three 1-story buildings on 2.54 acres along major artery in Salem VA. Located 2+ miles from I-81. Main Building is approximately 6000 SF and currently leased to an antique shop. 160 X 40 Shop building is currently leased to two separate tenants on a month to month basis. Rear building (84 x 40) is leased to a local landscaping company. Great Investment opportunity with potential for an owner occupant with supplemental income.

Details
Maps
Contract Information
Current Price: $535,000
Sold Price: $535,000
List Date: 2019-04-27
Status: Closed
General Property Description
Construction Status: Completed
Year Built: 1960
Type of Business: Antique shop Landscaping other
Lot Dimensions: 173 x 390
Total Acreage: 2.54
Road Frontage: 174
Flood Area: No
On site Parking: Yes
Lease Available: No
Basement Y/N: No
Water Class: N/A
Location, Legal & Taxes
Major Area: 03 - City of Salem
Area: 0300 - City of Salem
Street Number: 515
Street Name: Electric
Street Suffix: RD
State/Province: VA
Zip Code: 24153
Municipality: City of Salem
Tax ID: 155-1-1
Annual Taxes: 6843
Zoning Code: HBD & HM
Remarks & Misc
Directions: From I-81. South on Electric Rd. Property on right.
Status Change Info
Ratified Contract Dt: 2019-06-03
Sold Date: 2019-07-17
Sold Price: $535,000
Lease Info
Lease Terms: Multiple
Income & Expenses
Gross Income: 61600
Net Operating Income: 61600
Gross Expenses: 18723.82
Operating Expense: 18723.82
Property Features
Limited Service: Not Limited Service
Commercial Type: Industrial; Retail
Sale Includes: Building & Land
Construction: Brick; Metal
Heating: Heat Pump
Cooling: Heat Pump
Manufactured Homes: No HUD Tag
Water Description: Public Water
Sewer Description: Public Sewer
Documents Available: Survey
Topography: Level

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: July - 29 - 2019


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