Historic District
282 Derby Street, Salem, MA 01970
For Sale
Contact for pricing
The second-generation café and restaurant property is located in Salem’s Derby Street Historic District.
Property Size1,875 SF
Days on Market50
Property Features for 282 Derby Street
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Boston Realty Advisors
(617) 375-7900
Listed By:
Whitney Gallivan
(617) 850-9612
Source:
Lockandkeyre
Added: Sep 22
Changed: Nov 9
Last Checked: Nov 10 at 8:35AM
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 Boston Realty Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,875-square-foot restaurant property was built in 2000 and is configured for a café or restaurant use. Its second-generation status offers a setting previously used for food service, without details on specific equipment or interior features.
The property is in Salem’s Derby Street Historic District, next to The House of the Seven Gables and Pickering Wharf. Salem Depot, served by the MBTA, is a short distance away.
The property is in Salem’s Derby Street Historic District, next to The House of the Seven Gables and Pickering Wharf. Salem Depot, served by the MBTA, is a short distance away.
Key Highlights
- 1,875‑square‑foot restaurant property
- Built in 2000
- In Salem’s Derby Street Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,658
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,160
$693.2K
Cap Rate 7%
$495,114
$495.1K
Cap Rate 9%
$385,089
$385.1K
Market Conditions
NOI Build-Up for 1,875 SF
Gross rent
$47.3K $25.20/SF
− Vacancy
−$1.0K −$0.55/SF
EGI
$46.2K $24.65/SF
− OpEx
−$11.6K −$6.16/SF
NOI
$34.7K $18.48/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,160
Cap Rate 7%
$495,114
Cap Rate 9%
$385,089
Alternative Uses
Best Use
Specialty Retail
$495.1K
$433.2K – $577.6K
NOI $34,658 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$971.3K – $1.30M
NOI $77,700 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,710
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
$497,500
Median Home Value
Market
Average Price Trend$/SF for Conventional restaurants in Essex County, MA
Properties on Market for Conventional restaurants in Essex County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The second-generation café and restaurant property is located in Salem’s Derby Street Historic District.
Where is this conventional restaurant located?
The property is located at 282 Derby Street Salem, MA.
What are key features of this property?
This property features: 1,875‑square‑foot restaurant property; Built in 2000; In Salem’s Derby Street Historic District
