Building Details

Year Built 1988

Listing Agency: Advise Realty Services S***@gmail.com

Listed By: SIOHBON EBRAHIMI

Source: Corcoran

Added: Feb 7, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:08AM

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Investment Insights

Based on property information with market context.

This is an opportunity to lease space in the revitalized Salem Town Center. The property is under new management and undergoing a complete refresh, including a new parking lot, roof, A/C units, paint, and irrigation system. The property is located on highly traveled Route 85 (New London Road) and is anchored by Dunkin' Donuts, Subway, and other established businesses. The property is situated on 20.60 acres and offers over 75 parking spaces. It also provides convenient proximity to highway access and Mohegan Sun. The property has a size of 19159 square feet.

Key Highlights

• Located in the revitalized Salem Town Center with extensive renovations including a new parking lot, roof, A/C units, paint, and irrigation system.
• Anchored by established businesses such as Dunkin' Donuts and Subway.
• High‑traffic location on Route 85 (New London Rd.).

Property Analytics

Property Profile

Current Use

Statewide Pawn in Salem ... Discount Store The Armory In the Salem 4 ... Gun Shop Denari Esthetics, LLC Medical Clinic Marissa's Dance Academy Training Center Focus HCA Home Health Care Service

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$0.15 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

93

Businesses Nearby

18k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 60% Shops & Services 40%

Dunkin' Donuts Dining

8,113 visits/mo 0.2 miles

Dollar General Shops & Services

7,282 visits/mo 0.4 miles

SUBWAY Dining

1,576 visits/mo 0.1 miles

Two Brothers Pizza Dining

1,340 visits/mo 0.3 miles

Demographics for 06420, CT

4,250

Population

1,785

Households

2.4

Avg Household Size

43

Median Age

53%

College-Educated

99%

High-School Grad

29.5 sq mi

ZIP Area

144

Density / Sq Mi

$118,839

Median Household Income

$58,972

Median Earnings

$1,495

Median Rent

$369,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Shopping center - Retail space for lease in revitalized Salem Town Center.

Where is this shopping center located?

The property is located at 1 New London Road #23 Salem, CT.

What is the lease rate?

The lease rate is $1,600/Mo.

What are key features of this property?

This property features: Located in the revitalized Salem Town Center with extensive renovations including a new parking lot, roof, A/C units, paint, and irrigation system.; Anchored by established businesses such as Dunkin' Donuts and Subway.; High‑traffic location on Route 85 (New London Rd.).