135 Salem Ave SW
- Strong Income Stream: diverse income from long-term and short-term tenants
- Prime Downtown Location: close to major employers, restaurants, and cultural destinations
- Proven Tenant Demand: short-term units consistently leased to executive and traveling healthcare professionals
Property Description
Presented exclusively by Poe & Cronk Real Estate Group, 135 W Salem Avenue is an investment opportunity in the heart of Downtown Roanoke. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside. The property features ground-floor commercial space positioned for strong visibility on the corner of Salem Ave and 2nd Street. Above the commercial space are nine residential units served by an elevator. 135 W Salem delivers immediate and diversified cash flow, supported by a mix of long-term residents and short-term executive tenants. The short-term units cater primarily to executive and traveling healthcare professionals, a tenant base that continues to grow alongside Roanoke’s expanding medical and technology sectors. This leasing strategy not only maximizes income today but also provides investors flexibility for future stabilization depending on operational preference. The property benefits from close proximity to the region’s top employers, cultural venues, and entertainment destinations. Ample parking is available in the adjacent surface lot and nearby 2-hour street parking. Tenants enjoy easy walkability to downtown office towers, award-winning dining, galleries, and the full range of amenities that define Roanoke’s vibrant city center.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,595,000 |
| No. of Units: | 10 |
| Year Built: | 1906 |
| Lot Size: | 0.08 Acres |
| Opportunity Zone: | No |
| Price per unit: | $159,500 |
| Property Website | Click Here |
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