Salem, MA Land for Sale

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Updated: Jul 5

Automotive Facility with Service Bays

296 & 288 Highland Ave, Salem, MA 01970

$2,995,000

5,483 sqft

Approved for auto body use on a high‑traffic retail corridor along Highland Ave
Automotive facility on the primary retail parcel: 4,488 SF with 6 service bays, 4 lifts, and showroom space
Includes manager’s office, parts & stock rooms, customer waiting area, and a security system
Two commercial lots with over 200 ft of frontage on Highland Ave
Second parcel includes a small residential structure on commercially zoned land, offering redevelopment possibilities

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This listing looks promising.

Here's a quick look at some key insights for

296 & 288 Highland Ave, Salem, MA 01970

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Est. Cap Rate

3%
NOI ÷ price
Est. NOI

$90K
Annual
Price @ 7% Cap

$1.29M
Suggested
Last Sold

Oct 2022
$2.1M

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Updated: May 12

Commercial Sale, Salem, MA

296 & 288 Highland Avenue, Salem, MA 01950

$2,795,000

12.25 AC lot

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Salem Development Opportunity

64 Ward St, Salem, MA 01970

$1,395,000

Development opportunity in Salem with multifamily concept plans.

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Commercial Land Parcel with Curb Cuts

250 Highland Ave, Salem, MA 01970

Contact for pricing

0.60 AC lot

Commercial land parcel with 200 feet of frontage on Highland Avenue and two curb cuts, totaling about 0.60 acres.

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Mixed-Use Development Land Parcels

266 Canal St, Salem, MA 01970

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3.60 AC lot

Two parcels totaling 3.6 acres at Canal Street offer development potential for retail, apartments, and office use.

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Commercial Land with Retail Pad Potential

45 Traders Way, Salem, MA 01970

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Commercial land near Home Depot with potential for retail and office development.

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Corner Commercial Land

342 Highland Ave, Salem, MA 01970

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Corner positioning along Route 107 places the parcel near established retail and medical destinations.

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Industrial Land with Storage Use

5 Florence Street, Salem, MA 01970

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Land currently used for boat and equipment storage with prior industrial site use.

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Redevelopment Opportunity: Four Lots

483-485 Highland Ave, Salem, MA 01970

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Four lots available for redevelopment, commercial and residential.

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Based on your search, we've compiled 54 Potential Opportunities for your consideration. Besides 9 Active listings in Salem, MA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 41 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Conventional Restaurant Package

48-49a Lowell St, Peabody, MA 01960

$1,400,000

2,718 sqft

Two-property offering with an equipped restaurant and dedicated parking lot.

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Development Opportunity Near Downtown Lynn

0 High St, Lynn, MA 01902

$349,000

0.11 AC lot

Development opportunity near downtown, shops, restaurants, and commuter rail.

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Industrial Development Land Site

33 Walnut St, Peabody, MA 01960

Contact for pricing

Flexible development land at 33 Walnut St suitable for warehouse, retail, office, and other trades-related uses.

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Downtown Development Land Opportunity

380 Washington St, Lynn, MA 01901

Contact for pricing

0.88 AC lot

0.88-acre downtown Lynn site near the MBTA commuter rail station, in CBD zoning permitting high-rise multifamily with special permits.

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Off-Market Properties in Salem, MA

Consider similar Off-Market properties in Salem, MA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

VACANT COMMERCIAL LAND

329 Highland Ave, Salem, MA 01970-1738

$1,050,000

Estimated value

2.43 AC lot

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INDUSTRIAL - VACANT LAND

67 Derby St, Salem, MA 01970-5614

$30,000,000

Estimated value

42.30 AC lot

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VACANT COMMERCIAL LAND

9 Franklin St, Salem, MA 01970-2503

$1,590,000

Estimated value

0.84 AC lot

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VACANT COMMERCIAL LAND

342 Highland Ave, Salem, MA 01970-1743

$850,000

Estimated value

0.93 AC lot

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VACANT COMMERCIAL LAND

5 Florence St, Salem, MA 01970-4813

$215,000

Estimated value

0.13 AC lot

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VACANT COMMERCIAL LAND

373rd Highland Ave, Salem, MA 01970-7001

$3,160,000

Estimated value

0.80 AC lot

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INDUSTRIAL - VACANT LAND

25 Colonial Rd, Salem, MA 01970-2906

$53,700,000

Estimated value

4.56 AC lot

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INDUSTRIAL - VACANT LAND

38 Commercial St, Salem, MA 01970-3917

$3,900,000

Estimated value

0.83 AC lot

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VACANT COMMERCIAL LAND

101 Jackson St, Salem, MA 01970-3000

$320,000

Estimated value

0.38 AC lot

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INDUSTRIAL - VACANT LAND

Robinson Rd, Salem, MA 01970

$320,000

Estimated value

0.60 AC lot

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VACANT COMMERCIAL LAND

1 Swampscott Rd, Salem, MA 01970-1727

$320,000

Estimated value

0.26 AC lot

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INDUSTRIAL - VACANT LAND

34 Commercial St, Salem, MA 01970-3917

$345,000

Estimated value

0.66 AC lot

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INDUSTRIAL - VACANT LAND

7 Greenledge St, Salem, MA 01970-1827

$330,000

Estimated value

0.19 AC lot

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VACANT COMMERCIAL LAND

10 Cedar Rd, Salem, MA 01970-1714

$300,000

Estimated value

0.22 AC lot

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INDUSTRIAL - VACANT LAND

6 Technology Way, Salem, MA 01970-7002

$430,000

Estimated value

12.34 AC lot

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Salem, MA Land Market Trends and Statistics

Explore 50 land for sale in Salem, MA, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 722,045 square feet of properties for sale, with an estimated market value of $7,185,000.

Sale prices for lots in Salem, MA start at $1,395,000, averaging $2,395,000, and reaching up to $2,995,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 44K

Population Growth (5Y) +2.2%

Median Household Income $85,189

College Educated 35.2%

High-Yield Neighborhoods for Investment

Identify Salem submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
01970	$1.8M

Taxes & Financing

Tax Rate (average for all types) 2.11%

Property Tax per SF $33.59 per SF

Tax Rate vs County Average 0.41 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Essex County

New Delisted

Total CRE Inventory on Market (SF)

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Salem, MA Land for Sale

296 & 288 Highland Ave, Salem, MA 01970

296 & 288 Highland Avenue, Salem, MA 01950

64 Ward St, Salem, MA 01970

250 Highland Ave, Salem, MA 01970

266 Canal St, Salem, MA 01970

45 Traders Way, Salem, MA 01970

342 Highland Ave, Salem, MA 01970

5 Florence Street, Salem, MA 01970

483-485 Highland Ave, Salem, MA 01970

Opportunities in Nearby Cities

48-49a Lowell St, Peabody, MA 01960

0 High St, Lynn, MA 01902

33 Walnut St, Peabody, MA 01960

380 Washington St, Lynn, MA 01901

Off-Market Properties in Salem, MA

329 Highland Ave, Salem, MA 01970-1738

67 Derby St, Salem, MA 01970-5614

9 Franklin St, Salem, MA 01970-2503

342 Highland Ave, Salem, MA 01970-1743

5 Florence St, Salem, MA 01970-4813

373rd Highland Ave, Salem, MA 01970-7001

25 Colonial Rd, Salem, MA 01970-2906

38 Commercial St, Salem, MA 01970-3917

101 Jackson St, Salem, MA 01970-3000

Robinson Rd, Salem, MA 01970

1 Swampscott Rd, Salem, MA 01970-1727

34 Commercial St, Salem, MA 01970-3917

7 Greenledge St, Salem, MA 01970-1827

10 Cedar Rd, Salem, MA 01970-1714

6 Technology Way, Salem, MA 01970-7002

Salem, MA Land Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

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