1101 Electric RD, Salem, VA 24153

$995,000

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

Current Price: $995,000 List Date: 3/06/2026 Last Modified: 7/08/2026

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
Major Area: 03 - City of Salem
Tax ID: 060002201
Annual Taxes: 7216

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

Remarks & Misc

Directions: 1101 Electric RD, Salem, VA 24153

Limited Service

Not Limited Service: Yes

More Information

Commercial Type

Investment: Yes
Office: Yes

Business Type

Medical: Yes
Professional/Office: Yes

Sale Includes

Building & Land: Yes

Water Description

Public: Yes

Sewer Description

Public Sewer: Yes

Manufactured Homes

No HUD Tag: Yes

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: July - 08 - 2026

All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.

1101 Electric RD, Salem, VA 24153 (MLS# 925213)