Furnished Restaurant with Two
For Lease
$33 SF/Yr
221 Washington St, Salem, MA 01970
Fully built-out space includes a commercial kitchen and indoor seating for more than 250 guests.
Space SizeContact for details
Property Size7,026 SF
Days on Market8
Property Features for 221 Washington St
General Information
Standard status
Active
Size
7,026 SF
Zoning
B5, Legal Conforming
Space & Availability
Space Use
Restaurant
Furnished
Yes
Restaurant
Patio
Yes
Liquor License
Yes
Amenities
garage parking
Building Details
Building Size
7,026 SF
Year Built
2019
Listing Agency:
RE/MAX Beacon
(978) 500-9751
Listed By:
Levana Group
(978) 500-9751
Source:
Startpoint
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 11 at 1:59PM
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 RE/MAX Beacon
Investment Insights
Based on property information with market context.
This 7,000-plus-square-foot restaurant was built in 2019 and is offered furnished with a completed interior. The layout includes a main dining room, wraparound bar, commercial kitchen, outdoor patio, and a separate function area with a second bar. Indoor seating accommodates more than 250 guests, while the additional spaces support varied dining and private-event configurations. A liquor license is included, and the property carries B5, Legal Conforming zoning.
The restaurant occupies the space directly below the 113-room Hampton Inn at 221 Washington St in downtown Salem. Garage parking is available, and the setting is supported by nearby residential neighborhoods and local businesses. Potential hotel-related arrangements identified for the property include private functions, menu distribution, and room service agreements.
The restaurant occupies the space directly below the 113-room Hampton Inn at 221 Washington St in downtown Salem. Garage parking is available, and the setting is supported by nearby residential neighborhoods and local businesses. Potential hotel-related arrangements identified for the property include private functions, menu distribution, and room service agreements.
Key Highlights
- More than 7,000 square feet of furnished restaurant space
- Built in 2019 with a fully built‑out interior
- Indoor seating for more than 250 guests
Property Analytics
Current Use
Lease Details
Yes
Liquor license
NNN (Triple Net)
Lease Type
$4.95 /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 10% 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 - Fully built-out space includes a commercial kitchen and indoor seating for more than 250 guests.
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 $33 SF/Yr.
What are key features of this property?
This property features: More than 7,000 square feet of furnished restaurant space; Built in 2019 with a fully built‑out interior; Indoor seating for more than 250 guests
