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    1 New London Rd, Unit 23 Salem, CT 06420

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    For Lease
    $1,600 /Mo ($1.00 SF/Yr)

    Retail space for lease in revitalized Salem Town Center.

    Property size:
    19,159 SF
    Lot size:
    19,159 SF

    Property Features for 1 New London Rd

    General Information

    Standard status
    Active
    Size
    19,159 SF

    Building Details

    Year built
    1988

    Source: Advise Realty Services Agent SIOHBON EBRAHIMI

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Space in Salem Center

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Statewide Pawn in Salem ... Sporting Goods Store The Armory In the Salem 4 ... Gun Shop Denari Esthetics, LLC Skin Care Clinic Marissa's Dance Academy Dance School Focus HCA Home Health Care Service

    Suggested Use

    Restaurant Building Supply Dental Office Spa & Massage Hair Salon Clothing Store Nail Salon Gym & Fitness Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

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    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    New London
    State
    Connecticut
    Longitude
    -72.264082
    Latitude
    41.474491

    Nearby Similar for Lease

    • $12 SF/Yr
      950 SF

      Route 85 Retail/Office Space

      950 SF retail or office space available on Route 85.
      24 Hartford Rd, Salem, CT 06420
      View Details

    FAQs

    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 Rd, Unit 23 Salem, CT.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    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.).
    Request Owner's contact information
    1 New London Rd, Unit 23 Salem, CT 06420
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    Salem, CT 06420
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 New London Rd, Unit 23 Salem, CT 06420
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