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Rowe Furniture 239 Rowan St 287,031 SF 100% Leased Industrial Building Salem, VA 24153 $8,500,000 ($29.61/SF)
Executive Summary
Multi-Tenant. Large Industrial Building - 278,031+/- SF + two metal buildings. Gross Income $792,264.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$792,264
|
$2.76
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$792,264
|
$2.76
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$150,000
|
$0.52
|
| Net Operating Income |
$642,264
|
$2.24
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $792,264 |
| Annual Per SF | $2.76 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $792,264 |
| Annual Per SF | $2.76 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $150,000 |
| Annual Per SF | $0.52 |
| Net Operating Income | |
|---|---|
| Annual | $642,264 |
| Annual Per SF | $2.24 |
Property Facts
| Price | $8,500,000 | Rentable Building Area | 287,031 SF |
| Price Per SF | $29.61 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1946 |
| Property Type | Industrial | Clear Ceiling Height | 16’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 17 |
| Building Class | C | No. Drive In / Grade-Level Doors | 4 |
| Lot Size | 8.53 AC | ||
| Zoning | HM | ||
| Price | $8,500,000 |
| Price Per SF | $29.61 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 8.53 AC |
| Rentable Building Area | 287,031 SF |
| No. Stories | 1 |
| Year Built | 1946 |
| Clear Ceiling Height | 16’ |
| No. Dock-High Doors/Loading | 17 |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | HM |
Utilities
- Lighting
- Gas
- Water
- Sewer
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 218-1-1.1 | Improvements Assessment | $0 |
| Land Assessment | $2,800 | Total Assessment | $2,800 |
Property Taxes
Parcel Number
218-1-1.1
Land Assessment
$2,800
Improvements Assessment
$0
Total Assessment
$2,800
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L & M Properties, LLC
Rowe Furniture | 239 Rowan St
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