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327 S College Ave
Salem, VA 24153
STNL Caliber Collision | Roanoke MSA, VA · Retail Property For Sale
Investment Highlights
- Rare Caliber Collision lease structure with tenant responsible for roof maintenance
- 10% rent increases every five years; next increase in April 2028
- High-income area; average household income within 1 mile: $84,000; Dense infill market; 5-mile population of 90,399
- 8 years remaining on a corporate-backed lease (Caliber Collision, backed by publicly traded CWD)
- Established location; tenant has operated successfully here for 7 years
- Less than 1 mile from Roanoke College (2,000 students)
Executive Summary
327 S College Avenue in Salem, VA, is a single-tenant property leased to Caliber Collision under a corporate-backed NNN lease. The site offers approximately 8 years of remaining term with 10% rent increases every five years, providing stable income and minimal landlord responsibilities. Located in a strong infill market near Roanoke College, this property benefits from high visibility and a dense surrounding population, making it an attractive investment opportunity.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
19,941 SF
Building Class
C
Year Built
1962
Price
$2,070,357
Price Per SF
$103.82
Cap Rate
7%
NOI
$144,925
Tenancy
Single
Building Height
1 Story
Building FAR
0.44
Lot Size
1.03 AC
Zoning
TBD
Frontage
Amenities
- Corner Lot
Property Taxes
| Parcel Number | 145-5-4 | Improvements Assessment | $650,200 |
| Land Assessment | $120,800 | Total Assessment | $771,000 |
Property Taxes
Parcel Number
145-5-4
Land Assessment
$120,800
Improvements Assessment
$650,200
Total Assessment
$771,000
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