296 Highland Ave
Salem, MA 01970
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 12 Acre Lot Zoned Mixed Use Commercial / Residential
- Located Between Two Signalized Intersections
- Former Use was a Restaurant
- 33K Vehicles per Day
- 150 Foot Frontage with Two Curb Cuts
- Current Use is a 58 Car Dealership
EXECUTIVE SUMMARY
Pleased to announce for sale 296 Highland Ave Salem, a highly visible retail site. Once a restaurant the current owner is a 58-car dealership operating within a stand-alone 4,488-sf auto service shop with show room and office area. 296 Highland Ave is a 12.07-acre lot with mixed zoning, [B-2 and R1], with 150 feet of frontage with two curb cuts located between two signalized intersections. Highland Ave is part of the Entrance Corridor Overlay Zoning with traffic counts exceeding 33,000 per day. Retail neighbors include Town Faire Tire, Pep Boys, Hawthorne Square Shopping Plaza, Shaw’s Plaza. This is location, location, location.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,488 SF
Year Built
1950
Price
$2,250,000
Price Per SF
$501.34
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
12.07 AC
Opportunity Zone
Yes
Zoning
B2 / R1 - Business Highway / Residential Single Family
Parking
11 Spaces (2.45 Spaces per 1,000 SF Leased)
Frontage
251’ on Highland Avenue
PROPERTY TAXES
| Parcel Number | SALE-000008-000000-000029 | Improvements Assessment | $272,700 |
| Land Assessment | $1,406,500 | Total Assessment | $1,679,200 |
