Salem, VA
Commercial Real Estate Market Trends & Data

$123 Avg asking sale price
$2,753 Avg asking lease rate
30,046 SF Avg unit lease size
75,785 SF Avg building size for sale
7.65% Average cap rate

Salem's Demographic Profile

Salem has 10,404 households and a median income of $70,975, providing context for rent absorption and tenant demand across retail and multifamily assets. A +2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 25,696
# Households 10,404
Median age 42
Median household income $70,975
Avg household size 2.0
Renter-occupied housing units 3,711
5-year population change +2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Salem, VA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Salem $192 4,771 SF 7.65%
Cave Spring $247 3,528 SF 7.65%
Roanoke $225 12,072 SF 7.65%
Christiansburg $408 5,127 SF 4.00%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Roanoke $92 76,357 SF 8.88%
Hollins $129 37,078 SF 8.88%
Christiansburg $400 7,500 SF 4.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Salem $138 9,479 SF
Cave Spring $198 5,291 SF
Roanoke $194 10,154 SF
Hollins $123 11,495 SF
Cloverdale $463 1,836 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Cave Spring $69 22,329 SF 6.02%
Roanoke $155 12,720 SF 6.02%

Commercial Properties For Sale in Salem

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

1930 Braeburn Dr

Salem, VA 24153

  • 4,000 SF Office Building
  • $699,500
For Sale

824 Iowa St

Salem, VA 24153

  • 1,000 SF Office Building
  • $195,000
For Sale

Peacock Laundry Building

Salem, VA 24153

  • 18,998 SF Retail Building
  • $380,000
For Sale

48 Acre Industrial Site

Salem, VA 24153

  • 48.76 AC Lot
  • 1 Commercial Lot
  • $3,750,000
For Sale

1630 Braeburn Dr

Salem, VA 24153

  • 7,400 SF Office Building
  • 7.65% Cap Rate
  • $1,150,000
For Sale

904 Apperson Dr

Salem, VA 24153

  • 1,455 SF Office Building
  • $495,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Salem pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Salem $123 75,785 SF
Cave Spring $175 9,730 SF
Catawba $274 8,889 SF
Roanoke $191 25,638 SF
Elliston $85 3,516 SF

Regional Demographic Comparison

This comparison places Salem alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Salem or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Salem 25,696 10,404 42 $70,975 2 3,711 2%
Roanoke 96,712 42,963 40 $49,827 2 22,107 -2%
Elliston 781 321 41 $36,639 2 79 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Salem, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Salem

View All Commercial Real Estate For Sale in Salem
Is Salem a good market for a first-time commercial real estate investor?

Salem offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Salem?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Salem. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Salem?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Salem. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Salem compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Salem. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Salem acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Salem, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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