Built-Out Restaurant Space with
For Lease
$32 SF/Yr
221 Washington St, Salem, MA 01970
Five-years-old furnished restaurant space with a commercial kitchen, main dining room, bar, and outdoor patio seating.
Space SizeContact for details
Property Size7,026 SF
Days on Market15
Property Features for 221 Washington St
General Information
Standard status
Active
Size
7,026 SF
Property subtype
Commercial
Space & Availability
Space Use
Restaurant
Furnished
Yes
Restaurant
Patio
Yes
Liquor License
Yes
Building Details
Building Size
7,026 SF
Year Built
2019
Listing Agency:
(978) 500-9751
Listed By:
Justin Steele
(978) 500-9751
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 11 at 7:17AM
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 Justin Steele
Investment Insights
Based on property information with market context.
Fully built-out, furnished restaurant space built in 2019 with more than 7,000 square feet of interior dining and kitchen area. The layout includes a spacious main dining room with a wrap-around bar, a highly functional commercial kitchen, and flexible space that can be customized to a concept.
The space is designed to accommodate more than 250 guests indoors and also includes premium outdoor patio space. There is also a separate area with a second bar, which can support private functions or expanded dining.
The property includes a liquor license. It is located directly beneath the Hampton Inn (113 rooms) at 221 Washington St in downtown Salem, with convenient garage parking. BikeScore is 64 and walkScore is 92, with transitScore 38.
The space is designed to accommodate more than 250 guests indoors and also includes premium outdoor patio space. There is also a separate area with a second bar, which can support private functions or expanded dining.
The property includes a liquor license. It is located directly beneath the Hampton Inn (113 rooms) at 221 Washington St in downtown Salem, with convenient garage parking. BikeScore is 64 and walkScore is 92, with transitScore 38.
Key Highlights
- More than 7,000 SF of fully built‑out, furnished restaurant space
- Built in 2019
- Seating for more than 250 guests indoors plus outdoor patio space
Property Analytics
Current Use
Lease Details
Yes
Liquor license
NNN (Triple Net)
Lease Type
$4.80 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
2,708
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01970, MA
44,451
Population
20,920
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
92%
High-School Grad
8.2 sq mi
ZIP Area
5,421
Density / Sq Mi
$85,189
Median Household Income
$52,024
Median Earnings
$1,800
Median Rent
$497,500
Median Home Value
Market
Lease Benchmarks for Salem, MA
$30 /SF/Yr
Avg Asking Price
$24–$34 /SF/Yr
Price Range
4,388 SF
Avg Space Size
This space is priced 7% above the average of $30 /SF/Yr.
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Five-years-old furnished restaurant space with a commercial kitchen, main dining room, bar, and outdoor patio seating.
Where is this conventional restaurant located?
The property is located at 221 Washington St Salem, MA.
What is the lease rate?
The lease rate is $32 SF/Yr.
What are key features of this property?
This property features: More than 7,000 SF of fully built‑out, furnished restaurant space; Built in 2019; Seating for more than 250 guests indoors plus outdoor patio space
