Freestanding Retail
For Sale
$299,000
280 Bridge St, Salem, MA 01970
Cleared interior with new subfloors and owner-supported build-to-suit capability.
Property Size1,100 SF
Price / SF$271.82
Days on Market100
Property Features for 280 Bridge St
General Information
Standard status
Active
Size
1,100 SF
Zoning
NRCC
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Buildings
1
Building Size
1,100 SF
Listing Agency:
North Shore Realty Pros
Listed By:
David Cutler · License #9529198
(978) 869-8042
Source:
Alpernandmesenbourg
Added: May 29
Changed: Sep 4
Last Checked: Sep 4 at 10:45AM
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.
The property is a freestanding 1,106-square-foot commercial building at 280 Bridge St in Salem, Massachusetts. Built in 1900, the building has been cleared out and includes new subfloors. Ownership will consider build-to-suit improvements, providing flexibility for a future commercial layout.
A small parking lot serves the property, which is located steps from the Salem T. The building was formerly operated as a bait and tackle retail store. Multiple business concepts and lease arrangements are under consideration, including retail, office, studio, gallery, and medical or dental office uses as identified in the property information.
A small parking lot serves the property, which is located steps from the Salem T. The building was formerly operated as a bait and tackle retail store. Multiple business concepts and lease arrangements are under consideration, including retail, office, studio, gallery, and medical or dental office uses as identified in the property information.
Key Highlights
- Freestanding 1,106‑square‑foot commercial building
- Small on‑site parking lot
- Steps from the Salem T
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,073
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,460
$361.5K
Cap Rate 7%
$258,186
$258.2K
Cap Rate 9%
$200,811
$200.8K
Market Conditions
NOI Build-Up for 1,100 SF
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.
Gross rent
$26.4K $24.00/SF
− Vacancy
−$581 −$0.53/SF
EGI
$25.8K $23.47/SF
− OpEx
−$7.7K −$7.04/SF
NOI
$18.1K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,460
Cap Rate 7%
$258,186
Cap Rate 9%
$200,811
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,692
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
4,220 visits/mo
0.2 miles
Valvoline Instant Oil Change
Shops & Services
2,198 visits/mo
0.1 miles
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
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 33 Munroe Weddings, Events, and Florals — 1 Jefferson Ave, Salem, MA 01970
- Peter Barter Flowers of Salem — derby street, salem, ma 01970
- Karla Cassidy Designs — 21 Winter St, Salem, MA 01970
Frequently Asked Questions
What type of property is this?
Storefront property - Cleared interior with new subfloors and owner-supported build-to-suit capability.
Where is this storefront property 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: Freestanding 1,106‑square‑foot commercial building; Small on‑site parking lot; Steps from the Salem T
