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Salem, VA

Price: $2,218,000
Cap Rate: 5.5%
NOI: $122,000
Building Size: Approx. 3,077 Sq. Ft.
Lot Size: Approx. 0.76 Acres
Status: Available
Sub Category: QSR
Year Built: 2019

Investment Overview

  • 2019 Construction. 3,077+/- SF Building on .76+/- Acre Site
  • New 10 Yr Corp Lease w/ 10% Rent Bumps Every 5 Year’s
  • RELO – from a high performing Non Drive-Thru Location
  • Located along Electric Rd (21K VPD) & Main St (16K VPD)
  • Outparcel to Kroger | Near McDonalds, CVS, Hardee’s IHOP
  • Across American National University – Salem (1,337 Students)
  • 1.5-Miles N of Haley Toyota Field (6.3K Seats) & Civic Center
  • Known as “Virginia’s Championship City”- Home to Salem Red Sox
  • 6-Miles NW of Downtown Roanoke (Business & Cultural Hub)
  • Home to one Fortune 500 Company, Advance Auto Parts HQ
  • Recognized by Forbes as one of the best places to retire
  • 3-Mile Est Pop: 51,202 | 3-Mile Avg HH Income: $68,274
  • Roanoke MSA: Est Population Growth 12.62% (2000-2020)