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1929 Apperson Dr
Salem, VA 24153
Blue Ridge Hydroponics & Home Brewing Company · Retail Property For Sale
Investment Highlights
- Heavy daytime vehicle traffic
- Stable investment property
- Located on strong corridor
Executive Summary
PRICE REDUCED! ~8% CAP RATE! 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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,143 SF
Building Class
C
Year Built
1954
Price
$868,849 CAD
Price Per SF
$141.44 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.87 AC
Zoning
HBD
Parking
15 Spaces (2.44 Spaces per 1,000 SF Leased)
Frontage
443’ on Apperson Drive
Amenities
- 24 Hour Access
- Pylon Sign
- Signage
- Accent Lighting
- Storage Space
- Monument Signage
- Air Conditioning
Property Taxes
| Parcel Number | 279-1-1 | Improvements Assessment | $254,362 CAD |
| Land Assessment | $240,676 CAD | Total Assessment | $495,037 CAD |
Property Taxes
Parcel Number
279-1-1
Land Assessment
$240,676 CAD
Improvements Assessment
$254,362 CAD
Total Assessment
$495,037 CAD
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