13 Central St, Salem, MA 01970
Three-story mixed-use property combines a first-floor restaurant with residential units above in a walkable downtown setting.
- Added:
- Jun 25, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 27 at 3:57 am
Property Features for 13 Central St
General Information
- Standard status
- Active
- Size
- 6,442 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1868
Listing office (978) 697-7855
Listing date Jun 25, 2026
Source Elliman
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 Stephen Velonis
HighLights
- 1868‑built three‑story mixed‑use building totaling 6,442 SF in downtown Salem
- First‑floor restaurant with residential apartments on the 2nd and 3rd floors
- Historical marker commemorates The London Coffee House on‑site, dating to 1698
- WalkScore 92 (walkable downtown location) and bikeScore 64 (bikeable); transitScore 38
- Long‑term tenants and stable occupancy with a strong, consistent rental history
Overview
The building is located at 13 Central St in downtown Salem, MA, in a highly visible, walkable area. Public remarks note convenient access to shops, restaurants, cultural attractions, and year-round tourism. Reported mobility metrics include a Walk Score of 92 and a Bike Score of 64, with a Transit Score of 38.
For an owner or buyer seeking a mixed-use asset, the vertical configuration provides two income streams: ongoing restaurant operations at street level and apartment units on the upper floors. This structure may appeal to investors and owner-operators looking to manage a single property with both commercial and residential components, while maintaining continuity through long-term tenancy as described in the remarks.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $231.9k | $36.00 |
| − Vacancy | −$23.2k | −$3.60 |
| EGI | $208.7k | $32.40 |
| − OpEx | −$78.3k | −$12.15 |
| NOI | $130.5k | $20.25 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.8934542
- Latitude
- 42.5211325
