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Property Details: 

Listing Price: $164,900


Year Built: 1945


Property Type: Residential 


Building Size: 1,120 SqFt 


Lot Size: 0.61 Acres 

Property Description: 

Fantastic live/work opportunity nestled on 0.61 acres in Salem, VA, with two distinct buildings available:

  • The main house, a recently updated spacious 2-bedroom/1-bath dwelling spanning 1,120 sqft. It features new flooring, paint, and cabinets, along with a two-year-old roof, vinyl windows, water heater, plumbing upgrades, and replaced internal HVAC components. Enjoy the convenience of a 200amp service, washer/dryer hookup, and central air.
  • The second building boasts a 720 sqft open floor plan with central air, a half bath, storage room, utility closet, multiple water hookups, and outlets throughout. Fully insulated with a separate power meter from the main house.

Additional features include a large paved area for parking or material laydown, Highway Business District zoning permitting various business types, city water supply, a 1,000-gallon septic system cleaned two years ago, and a remarkable investment opportunity with a CAP rate of approximately 10% based on historical rental rates. Owner financing is also an option.

Property Location: 

Located on Mill Ln. just off of West Main St. in Salem behind Sheets

 

 

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