Retail Building Near Salem
280 Bridge St Salem, MA 01970
For Sale
$299,000
Commercial/retail building with parking near Salem T station.
Property Size1,100 SF
Price / SF$271.82
Days on Market94
Property Features for 280 Bridge St
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency:
North Shore Realty Pros
(978) 869-8042
Listed By:
David Cutler · License #9529198
(978) 869-8042
Source:
Liongatere
Added: Apr 25
Changed: Jul 10
Last Checked: Jul 26 at 11:33PM
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 North Shore Realty Pros
Investment Insights
Based on property information with market context.
This 1,100 square foot commercial/retail building, measuring 78x13 inside, is located in an area with high pedestrian and traffic count, steps from the Salem T station. The property includes a small parking lot. It is zoned NRCC (North River Canal Corridor Neighborhood Mixed Use). The building, formerly a Bait & Tackle retail store, has been cleared out with new subfloors and is ready for build-out. Permitted uses by right include artist lofts and living space, studio, gallery, trade school, business and professional offices (such as lawyers, accountants, and real estate brokers), medical/dental offices, single-family homes, and retail establishments like convenience stores, coffee shops, tourist attractions, gift shops, florists, barber shops/salons, banks, laundromats, and liquor stores. Uses allowed with a special permit include music, recording, and dance studios, light manufacturing, breweries/distilleries/wineries with tasting rooms, hotels or inns, social clubs, lodges, restaurants, and bars. The property is situated in an area with significant planned development.
Key Highlights
- High‑traffic location steps from the Salem T, offering excellent visibility and accessibility.
- Versatile NRCC zoning allows for a wide range of uses by right, including residential, retail, and office spaces.
- Ready for build‑out with new subfloors, providing a blank canvas for customization.
Financial Insights For Retail
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 | $26.4k | $24.00 |
| − Vacancy | −$581 | −$0.53 |
| EGI | $25.8k | $23.47 |
| − OpEx | −$7.7k | −$7.04 |
| NOI | $18.1k | $16.43 |
1,100 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$258.2K
$225.9K – $301.2K
NOI $18,073 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$651.2K
$569.8K – $759.7K
NOI $45,584 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Commercial/retail building with parking near Salem T station.
Where is this retail space located?
The property is located at 280 Bridge St Salem, MA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: High‑traffic location steps from the Salem T, offering excellent visibility and accessibility.; Versatile NRCC zoning allows for a wide range of uses by right, including residential, retail, and office spaces.; Ready for build‑out with new subfloors, providing a blank canvas for customization.
