296 Highland Ave 4,488 SF 100% Leased Retail Building Salem, MA 01970 £1,759,635 (£392.08/SF)
EXECUTIVE SUMMARY
High visibility retail site once a restaurant and currently a used car dealership with service bays. This is a 12+ acre site. Most of the parcel is zoned R-1 and could be used for a residential subdivision. The land parcel has a 60' wide easement from Crosby Street which is off of Marlborough Road. Building has two drive in doors and five service bays, office areas and customer areas. Loading dock in the rear of the building. B-2 zoning for the front section allows a large number of retail, office and other service uses.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,488 SF
Year Built
1950
Price
£1,759,635
Price Per SF
£392.08
Percent Leased
100%
Number of Floors
1
Building FAR
0.01
Lot Size
12.07 AC
Opportunity Zone
Yes
Zoning
B2 - Business Highway
Parking
11 Spaces (2.45 Spaces per 1,000 SF Leased)
Frontage
251 ft on Highland Avenue
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | SALE-000008-000000-000029 | Improvements Assessment | £211,724 |
| Land Assessment | £1,092,003 | Total Assessment | £1,303,727 |
