1101 Electric RD, Salem, VA 24153

$930,355

Property Type: Commercial Lot Size (sq. ft.): 27,007 Status: Closed

Current Price: $930,355 List Date: 3/06/2026 Last Modified: 8/18/2026

Overview

Description

Positioned along the well-traveled Electric Road corridor in Salem, Virginia, this ±5,163 SF professional office building offers investors a stable multi-tenant asset within one of the region's primary commercial corridors. Constructed in 2004 and situated on approximately ±0.62 acres, the property features two office suites designed to accommodate professional and medical office users. The building offers modern construction, efficient layouts, ample natural light, and dedicated on-site parking for tenants and visitors. Currently leased to two established professional tenants, including a medical office user, the property provides consistent in-place income while offering future rental growth potential as leases roll to market rates.

Listing Details MLS# 925213

Location, Tax & Legal

Area: 0300 - City of Salem
Street Number: 1101
Street Name: Electric
Street Suffix: RD
State/Province: VA
Zip Code: 24153
Municipality: City of Salem

General Property Description

Construction Status: Completed
Year Built: 2004
Total Acreage: 0.62
Flood Area: No
On site Parking: Yes
Lease Available: No
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2026-07-08
Sold Date: 2026-08-11

More Information

Property Features

Limited Service: Not Limited Service Commercial Type: Investment; Office Business Type: Medical; Professional/Office Sale Includes: Building & Land Manufactured Homes: No HUD Tag Water Description: Public Sewer Description: Public Sewer

Listing Office: INVESTORS REAL ESTATE PARTNERS LLC

Last Updated: August - 18 - 2026

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