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57 Loring Ave 4,500 SF of Retail Space Available in Salem, MA 01970
HIGHLIGHTS
- Heavy daytime vehicle and pedestrian traffic.
- Property sits between the three Salem State University campuses and O'keefe Athletic Center.
- On-site parking with full circulation around the building.
- Superb frontage along Loring Ave.
- Close-by two major signalized intersections: (Jefferson Ave./Loring Ave. (Rt. 1A)/ Canal St.) and Loring Ave./Lafayette St. (Rt. 114).
- Potential subdivision for a 2,500 sq. ft. user.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 4,500 SF | Negotiable | $23.00 /SF/YR $1.92 /SF/MO $103,500 /YR $8,625 /MO | Triple Net (NNN) |
1st Floor
Prime renovated space suitable for retail, restaurant, office, fitness, physical therapy, medical and many other uses. At grade entry doors lead into an open area formerly used as a coffee shop. This space could be shared by two food uses and has two handicap bathrooms. Fully air conditioned space ready for your concept. Located on busy roadway in a neighborhood which is adding over 750 new apartment units. Owner plans to do exterior renovations to the building. Ample parking in front and behind building. Pylon signage as well as sign band. Stated rent is triple net.
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SITE PLAN
SELECT TENANTS AT 57 LORING AVE, SALEM, MA 01970
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- White Dove Convenience Store
- Retailer
- -
- -
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| White Dove Convenience Store | Retailer | - | - |
PROPERTY FACTS
| Total Space Available | 4,500 SF | Gross Leasable Area | 13,950 SF |
| Property Type | Retail | Year Built | 1984 |
| Property Subtype | Storefront Retail/Office |
| Total Space Available | 4,500 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 13,950 SF |
| Year Built | 1984 |
NEARBY MAJOR RETAILERS
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57 Loring Ave
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