Attorney Office
47 Federal Street Salem, MA 01970
New
47 Federal Street, Salem, MA, 01970
$599,900
For Sale
$599,900
Office building configured with multiple offices, reception, conference room, and central air, with off-street tandem parking.
Property Size1,787 SF
Price / SF$335.70
Days on Market4
Property Features for 47 Federal Street
General Information
- Standard status
- Active
- Size
- 1,787 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing agency
1 Percent Realty, LLC
(978) 375-6150
Listed by
George Fallon
(978) 375-6150
Source
Alliancepartnersre
Added: Jul 19 Updated: Jul 20 at 4:28AM Checked: Jul 22 at 6:03AM
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 1 Percent Realty, LLC
Investment Insights
Based on property information with market context.
Well located office building currently used as an attorney at law office. The interior includes multiple offices, a reception area, a conference room, and a law library, along with two half baths and two small kitchen areas. Central air is in place throughout the building.
The property is directly across from the courthouse, with nearby access to a train location and a parking garage. Off-street parking is a key feature, offering tandem parking for two to four cars.
The building layout supports professional office use with separate private offices and shared common areas for client reception and meetings.
The property is directly across from the courthouse, with nearby access to a train location and a parking garage. Off-street parking is a key feature, offering tandem parking for two to four cars.
The building layout supports professional office use with separate private offices and shared common areas for client reception and meetings.
Key Highlights
- 1787 Gambrel office building built in 2008, currently used as an attorney at law office
- Off‑street parking allows 2–4 car tandem parking
- Configured with 4–6 offices plus reception area and a conference room
Local Financial Insights For Office B
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 | $81.5k | $45.60 |
| − Vacancy | −$15.1k | −$8.44 |
| EGI | $66.4k | $37.16 |
| − OpEx | −$16.6k | −$9.29 |
| NOI | $49.8k | $27.87 |
1,787 SF · lease $45.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$711.6K
$622.6K – $830.2K
NOI $49,809 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,053 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hemsey Judge, P.C.
Law Firm
Hemsey Christopher
Law Firm
David F Driscoll ...
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office building configured with multiple offices, reception, conference room, and central air, with off-street tandem parking.
Where is this office units located?
The property is located at 47 Federal Street Salem, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1787 Gambrel office building built in 2008, currently used as an attorney at law office; Off‑street parking allows 2–4 car tandem parking; Configured with 4–6 offices plus reception area and a conference room
