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628 S Colorado St 1,316 SF Office Building Salem, VA 24153 $300,000 ($227.96/SF)
Investment Highlights
- Office, Retail with a separate shop building in the back with it's own electric meter and address.
Executive Summary
Great commercial opportunity in a highly desirable location just a few blocks from Downtown Salem! Situated on a flat corner lot, this versatile property offers incredible potential for a wide variety of business uses. The building features a welcoming large front porch, a spacious foyer, multiple flexible rooms, and tow half bathrooms, making it ideal for offices, retail, or service-based operations. Ample parking is available with a large lot behind the building, ensuring convenience for clients and staff alike. Additionally, the detached garage - complete with its own address, separate electrical service, and plumbing for a bathroom - provides even more possibilities for expansion, rental income, or a secondary workspace.
Property Facts
Sale Type
Investment
Property Type
Building Size
1,316 SF
Building Class
B
Year Built
1940
Price
$300,000
Price Per SF
$227.96
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,316 SF
Building FAR
0.12
Lot Size
0.26 AC
Zoning
CBD
Parking
15 Spaces (11.4 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 160-6-7 | Improvements Assessment | $144,700 |
| Land Assessment | $59,300 | Total Assessment | $204,000 |
Property Taxes
Parcel Number
160-6-7
Land Assessment
$59,300
Improvements Assessment
$144,700
Total Assessment
$204,000
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628 S Colorado St
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