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120 Salem Ave SW 32,000 SF of Office/Retail Space Available in Roanoke, VA 24011
HIGHLIGHTS
- Proximity to Virginia Tech Carilion & Fralin Biomedical Research Institute (˜1 mile)
- 32,000± SF across 2 stories + mezzanine, ideal for mixed-use redevelopment
- Enterprise Zone and City Incentives – state and local redevelopment tax credits available
- Brick & Glass Façade with authentic industrial architecture
- Super Heavy Power: ~3 MW electrical capacity
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- CEILING
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| Ground | 32,000 SF | 22’4” | Negotiable | $10.00 /SF/YR $0.83 /SF/MO $320,000 /YR $26,667 /MO | Triple Net (NNN) |
Ground
120 SALEM AVE | ROANOKE, VA Downtown Adaptive Reuse Opportunity | Power, Scale & Location Property Highlights 32,000± SF across 2 stories + mezzanine, ideal for mixed-use redevelopment Super Heavy Power: ~3 MW electrical capacity High Load Capacity: 250 lbs/SF floors support lab, data, or production uses Ceiling Heights: soaring 20–42 ft, perfect for creative or industrial volumes Zoning: D-Downtown District – flexible for office, retail, hospitality, or residential Enterprise Zone Incentives – state and local redevelopment tax credits available Dock-High & Drive-In Loading for versatile logistics and production uses Brick & Glass Façade with authentic industrial architecture Mezzanine-ready structure for loft offices or event overlooks Adjacent to City Skywalk and steps from civic, state, and federal buildings Proximity to Virginia Tech Carilion & Fralin Biomedical Research Institute (˜1 mile) Regional Access: Easy connection to I-581, Amtrak, Greenways, and Roanoke-Blacksburg Regional Airport Development & Adaptive Reuse Potential Creative Office Conversion: bright, open spaces with exposed materials and mezzanine lounges Innovation or Research Hub: suitable for tech, data, or biotech operations Brewery / Taproom Destination: indoor-outdoor capacity with an authentic industrial shell Urban Loft Redevelopment: high-ceiling residential units with skyline views Civic or Cultural Hub: event space, gallery, or nonprofit/education use Location Advantages In the heart of Roanoke’s urban core, surrounded by 60+ restaurants and shops Walkable to municipal and healthcare campuses Mountain and skyline views of the Blue Ridge from the upper levels Regional Reach: 194 mi to Charlotte | 251 mi to Washington, DC | 403 mi to Philadelphia | 430 mi to Atlanta Ideal For Developers seeking adaptive reuse or mixed-use repositioning Tech, creative, or biomedical tenants requiring power + proximity to Carilion & VT Hospitality or brewery operators seeking iconic downtown architecture Civic or institutional users expanding community-facing programs
- Lease rate does not include utilities, property expenses or building services
- Finished Ceilings: 22’4”
- City Views
- Developer/Investor Listing
- Innovation & Life Science Positioning
- Super Heavy Power: ~3 MW electrical capacity
- High Load Capacity: 250 lbs/SF floors support lab,
- Ceiling Heights: soaring 20–42 ft, perfect for cre
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 32,000 SF | Gross Leasable Area | 48,162 SF |
| Property Type | Retail | Year Built/Renovated | 1991/2003 |
| Property Subtype | Storefront | Parking Ratio | 0.93/1,000 SF |
| Total Space Available | 32,000 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Gross Leasable Area | 48,162 SF |
| Year Built/Renovated | 1991/2003 |
| Parking Ratio | 0.93/1,000 SF |
ABOUT THE PROPERTY
Development & Adaptive Reuse Potential Creative Office Conversion: bright, open spaces with exposed materials and mezzanine lounges Innovation or Research Hub: suitable for tech, data, or biotech operations Brewery / Taproom Destination: indoor-outdoor capacity with authentic industrial shell Urban Loft Redevelopment: high-ceiling residential units with skyline views Civic or Cultural Hub: event space, gallery, or nonprofit/education use Location Advantages In the heart of Roanoke’s urban core, surrounded by 60+ restaurants and shops Walkable to municipal and healthcare campuses Mountain and skyline views of the Blue Ridge from upper levels Regional Reach: 194 mi to Charlotte | 251 mi to Washington DC | 403 mi to Philadelphia | 430 mi to Atlanta Ideal For Developers seeking adaptive reuse or mixed-use repositioning Tech, creative, or biomedical tenants requiring power + proximity to Carilion & VT Hospitality or brewery operators seeking iconic downtown architecture Civic or institutional users expanding community-facing program Recreation, Pickleball , Climbing Gym Use
- Restaurant
- Security System
- Signage
- Roof Terrace
- Air Conditioning
NEARBY MAJOR RETAILERS
Presented by
Elliott Inc.
120 Salem Ave SW
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