Salem, VA Commercial Real Estate for Lease and Sale

Explore 28 listings of Salem commercial real estate to find the best space for your business.

793 Union St

793 Union St, Salem, VA
Property

Industrial

11,460 SF
Availability

1 Space

11,460 SF
For Lease

$6.00/SF/YR
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115 Dalewood Ave

115 Dalewood Ave, Salem, VA
Property

Multi-Family

1,904 SF
Year Built

1998
For Sale

$275,000
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Corell Electric Building

1005 E Main St, Salem, VA
Property

Office

4,910 SF
Year Built

1985
For Sale

$649,000
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1540 Apperson Dr

1540 Apperson Dr, Salem, VA
Property

Office

1,816 SF
Availability

1 Space

1,816 SF
Year Built

1941
For Lease

$13.00/SF/YR
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Office Retail Industrial

Office Retail Industrial Land
Roanoke Blvd Land

2145 Roanoke Blvd, Salem, VA
Property

VacantLand
For Sale

$170,000
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Multifamily Development Opportunity at Harrogate in Salem

1871 Harrogate Drive, Salem, VA
Property

VacantLand
For Sale

$399,000
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1630 Braeburn Dr

1630 Braeburn Dr, Salem, VA
Property

Office

7,299 SF
Availability

1 Space

3,700 SF
Year Built

1985
For Lease

$14.00/SF/YR
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Prime Salem / Roanoke Corner Property

201 Electric Rd, Salem, VA
Property

Retail

7,980 SF
For Sale

$1,850,000
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68 St John Road

68 St John Road, Salem, VA
Property

Industrial

9,900 SF
Availability

1 Space

9,900 SF
For Lease

$8.50 - $9.00/SF/YR
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Former Jersey Lily's

1650 Braeburn Dr, Salem, VA
Property

Retail

10,545 SF
Year Built

1983
For Sale

$2,350,000
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30 Acre Industrial Site

5832 West River Road, Salem, VA
Property

VacantLand
For Sale

$1,150,000
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2213 Bailey Ave

2213 Bailey Ave, Salem, VA
Property

Multi-Family

3,848 SF
Year Built

1973
For Sale

$550,000
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Skyview Road Assemblage

1723 Skyview Rd, Salem, VA
Property

VacantLand
For Sale

$1,795,000
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St John Flex Space

105 St John Road, Salem, VA
Property

Industrial

9,800 SF
Availability

1 Space

9,800 SF
Year Built

2023
For Lease

$8.50/SF/YR
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West Main Retail

1617 W Main St, Salem, VA
Property

Retail

4,604 SF
Availability

1 Space

3,452 SF
Year Built

1950
For Lease

$2,800.00/MO
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Ridgewood Farms Shopping Center

1935 Electric Road, Salem (Roanoke), VA
Property

Retail

73,000 SF
Availability

1 Space

9,750 SF
For Lease Contact for pricing
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Truck Service Buildings | 3718 & 3716 Garman Rd

3718 Garman Rd, Glenvar, Salem, VA
Property

Industrial

9,200 SF
For Sale

$1,295,000
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1501 Roanoke Boulevard

1501 Roanoke Boulevard, Salem, VA
Property

Industrial
Availability

1 Space

414,000 SF
Year Built

1955
For Lease Contact for pricing
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404 W Main St

404 W Main St, Salem, VA
Property

Retail

2,466 SF
Year Built

1964
For Sale

$1,100,000
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616 Idaho Street

616 Idaho Street, Salem, VA
Property

Office

48,580 SF
For Sale

$6,495,000
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1406 S Colorado St

1406 S Colorado St, Salem, VA
Property

Retail

2,000 SF
For Sale Contact for pricing
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1929 Apperson Drive

1929 Apperson Dr, Salem, VA
Property

Retail

6,143 SF
Year Built

1954
For Sale

$650,000
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Spartan Square

1400 West Main Street, Salem, VA
Property

Retail

181,071 SF
Availability

6 Spaces

19,958 SF
For Lease Contact for pricing
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1501 Roanoke Blvd

1501 Roanoke Blvd, Salem, VA
Property

Industrial

764,204 SF
Availability

2 Spaces

279,580 SF
Year Built

1955
For Lease Contact for pricing
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922 W. MAIN STREET

922 W. MAIN STREET Salem, Salem, VA
Property

VacantLand

7.2 Acre
For Sale Contact for pricing
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1622 E Main St

1622 E Main St, Salem, VA
Property

VacantLand

2.25 Acre
For Sale

$1,300,000
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131 Electric Road

131 Electric Road, Salem, VA
Property

Retail

6,401 SF
Availability

2 Spaces

4,757 SF
For Lease Contact for pricing
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1406 S Colorado St

1406 S Colorado St, Salem, VA
Property

Retail

2,000 SF
Availability

1 Space

2,000 SF
For Lease Contact for pricing
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Salem commercial real estate market incorporates 62,605 square feet of office space across 5 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Salem commercial real estate market includes 341,210 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Salem market, there is a total of 793,104 square feet of industrial property.

The listing inventory in Salem incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Salem is represented by Industrial space, which accounts for 713,280 square feet of available listings. Retail space available in Salem adds up to 64,102 square feet.

Meanwhile, most of the listings of commercial property for sale in Salem are in the Retail category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Salem, depending on the property type you are interested in.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $14 per square foot.

The average size of a commercial property in Salem depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Salem, the average size of an office property is 15,652 square feet.
Retail properties here incorporate an average of 31,020 square feet.
Industrial space in Salem is in buildings that are, on average 158,621 square feet in size.

Salem, VA Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Salem currently add up to 758,713 square feet. The market offers 3 active office listing(s), which amount to 5,516 square feet and account for 25% of commercial spaces on the market. Local retail availability includes 39,917 square feet across 5 retail space(s). Industrial space for rent opportunities in Salem amount to 713,280 square feet across a total of 4 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	3	5,516
Retail	5	39,917
Industrial	4	713,280

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Salem, VA. Currently, there is 97,585 square feet of commercial property for sale here , which includes 2 office building(s) for sale , 5 retail investment opportunity listing(s) , and 1 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	2	53,490
Retail	5	29,134
Industrial	1	9,200
Other	8	5,761

Salem, VA Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Salem, VA?

What factors affect the price of commercial real estate in Salem, VA?

What are the best areas for commercial real estate in Salem, VA?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Salem, VA?

Salem, VA Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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