$2,795,000
( $509.76Per Sq Foot )
 $15,004 est/mo Sourced by Back At You

296 & 288 Highland Ave,Salem, MA 01970

Salem, MA 01970

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Description

Exceptional investment / redevelopment opportunity with outstanding visibility on busy Highland Ave. The property is approved for AUTO BODY USE -a highly sought-after & difficult-to-obtainThe primary retail parcel features a 4,488 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager's office, parts & stock rooms, customer waiting area, security system. Also included are approximately 12 acres of residential land located behind the main commercial site, offering significant future development potential.The second parcel includes a small residential structure situated on commercially zoned land, presenting excellent redevelopment possibilities. Strategically located alongside major national retailers and traffic generators w/ more than 35,000 vehicles per day.This property is also being offered for lease. Automotive facility (296 Highland Ave) is $15,000 per month modified gross. Add the residential home in for $20,000 per month.

Details

MLS #73517059
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1950
Days On Site138
Listing Provided ByKeller Williams Realty - Londonderry | Doug Martin

Features

SQ Feet5,483
ZoningComm/Resid
Acreage12.25

Utilities

UtilitiesPublic Water, Public Sewer

Taxes

Tax Annual Amount39693.43
Tax Lot29-30
Tax Year2026
Tax Map Number08

Location

Senior Community Yes / NoNo

Area Information

StateMA
CountyEssex
CitySalem
Zip Code01970
AreaEssex
Listing VS Median (in 01970)
Price:
$2,795,000
low | high
Med:
$489,900
100% of Average
sqft:
5,483
low | high
Med:
1,351
100% of Average
$ / sqft:
$510
low | high
Med:
$363
78.864150188888% of Average
On site:
138
low | high
Med:
17
100% of Average
Sourced by Back At You

Market Activity 01970

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Contact

Learn More About This Property

Wendy Tauber

Wendy Tauber

HK Realty

 (603) 502-7151wendy@h-krealty.com
StateMA
CountyEssex
CitySalem
Zip Code01970
AreaEssex
Listing VS Median (in 01970)
Price:
$2,795,000
low | high
Med:
$489,900
100% of Average
sqft:
5,483
low | high
Med:
1,351
100% of Average
$ / sqft:
$510
low | high
Med:
$363
78.864150188888% of Average
On site:
138
low | high
Med:
17
100% of Average
Sourced by Back At You
Listing Updated: September 6, 2026 at 5:23:57 PM PDT