Four-Unit Retail Building and
For Sale
$1,299,900
Pending
697-705 Salem Street, Malden, MA 02148
Mixed-use income property combining a four-unit retail building with a two-family home on one lot.
Property Size7,000 SF
Days on Market124
Property Features for 697-705 Salem Street
General Information
Standard status
Pending
Size
7,000 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Building Details
Building Size
7,000 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Waltham
Listed By:
Dave DiGregorio · License #9028021
(781) 893-0808
Source:
Classifiedrealtygroup
Added: Jun 5
Changed: Sep 23
Last Checked: Oct 5 at 3:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Waltham
Investment Insights
Based on property information with market context.
This offering includes a four-unit commercial retail building together with a two-family home, all located on a single lot. The commercial component provides multiple retail units within one structure, while the attached residential component offers an additional rental unit mix. The two-family home is described as requiring major TLC, giving the buyer flexibility to renovate, reimagine, or reposition the residential portion.
The property is identified as a Salem Street commercial building in Maplewood Square, with the full address provided as 697-705 Salem Street, Malden, MA 02148. The public remarks indicate the commercial building is positioned along a corridor described as high-traffic and high-visibility, supporting retail-style exposure for the existing units.
For investors and developers, the key advantage here is the ability to own both commercial and residential income in one package, with multiple paths forward. The retail building can support an ongoing rental strategy, while the two-family home presents an opportunity for renovation to improve functionality and marketability. The seller notes group showings only, so prospective buyers should coordinate through their broker for scheduling.
The property is identified as a Salem Street commercial building in Maplewood Square, with the full address provided as 697-705 Salem Street, Malden, MA 02148. The public remarks indicate the commercial building is positioned along a corridor described as high-traffic and high-visibility, supporting retail-style exposure for the existing units.
For investors and developers, the key advantage here is the ability to own both commercial and residential income in one package, with multiple paths forward. The retail building can support an ongoing rental strategy, while the two-family home presents an opportunity for renovation to improve functionality and marketability. The seller notes group showings only, so prospective buyers should coordinate through their broker for scheduling.
Key Highlights
- Year built 1900 mixed‑use property combining a four‑unit retail building with a two‑family home on one lot
- Includes 4‑unit Salem Street commercial building with rental potential
- Two‑family home on the same lot; requires major TLC (value‑add potential with improvements)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,610
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,012,200
$2.0M
Cap Rate 7%
$1,437,286
$1.4M
Cap Rate 9%
$1,117,889
$1.1M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$153.7K $21.96/SF
− Vacancy
−$10.0K −$1.43/SF
EGI
$143.7K $20.53/SF
− OpEx
−$43.1K −$6.16/SF
NOI
$100.6K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,012,200
Cap Rate 7%
$1,437,286
Cap Rate 9%
$1,117,889
Alternative Uses
Best Use
Multifamily LT 5
$2.12M
$1.85M – $2.47M
NOI $148,122 @ 7.0% cap · market cap 11.39%
Second Best
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,276 @ 7.0% cap · market cap 10.71%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,078 @ 7.0% cap · market cap 22.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Mixed-use income property combining a four-unit retail building with a two-family home on one lot.
Where is this retail space located?
The property is located at 697-705 Salem Street Malden, MA.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: Year built 1900 mixed‑use property combining a four‑unit retail building with a two‑family home on one lot; Includes 4‑unit Salem Street commercial building with rental potential; Two‑family home on the same lot; requires major TLC (value‑add potential with improvements)
