Historic Georgian Bed &
For Sale
$1,875,000
314 Essex St, Salem, MA 01970
Renovated in 2016, the property combines formal entertaining areas, multiple suites, and a private fenced yard.
Days on Market83
Property Features for 314 Essex St
General Information
Standard status
Active
Property subtype
COMMERCIAL
Amenities
private fenced yard
wood burning fireplace
chef's kitchen
spa-worthy bath
Building Details
Building Size
4,670 SF
Year Built
1755
Year Renovated
2016
Stories
3
Construction
Georgian
Listing Agency:
The Persac Group, LLC
(617) 209-7969
Listed By:
Andrew Pike · License #9536209
Source:
Jonathanradford
Added: May 11
Changed: Jul 31
Last Checked: Aug 1 at 10:43AM
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 The Persac Group, LLC
Investment Insights
Based on property information with market context.
Built in 1755, this Georgian-style gambrel offers more than 4,500 SF of living space across 3 levels. The entry level includes a reception foyer, 2 sitting rooms with wood-burning fireplaces, a formal dining room with seating for 10+ ppl, and a 1/2 bath. A chef’s kitchen includes a large wood-burning hearth, commercial-sized range, refrigerator, freezer, dishwasher, and steam wall oven.
The 2nd level features 3 en-suite bedrooms surrounding a spacious landing. The 3rd level includes a primary suite with a spa-worthy bath, walk-in closet, den, gym, kitchenette, and office space. The property also has a private fenced yard and was completely renovated in 2016. Located at 314 Essex St in Salem, the property abuts the Witch House and downtown Salem.
The 2nd level features 3 en-suite bedrooms surrounding a spacious landing. The 3rd level includes a primary suite with a spa-worthy bath, walk-in closet, den, gym, kitchenette, and office space. The property also has a private fenced yard and was completely renovated in 2016. Located at 314 Essex St in Salem, the property abuts the Witch House and downtown Salem.
Key Highlights
- Built in 1755 with Georgian‑style gambrel architecture
- More than 4,500 SF of living space on 3 levels
- Completely renovated in 2016
Financial Insights For Apartment 5plus
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 | $134.5k | $28.80 |
| − Vacancy | −$5.4k | −$1.15 |
| EGI | $129.1k | $27.65 |
| − OpEx | −$58.1k | −$12.44 |
| NOI | $71.0k | $15.21 |
4,670 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$887.7K – $1.18M
NOI $71,014 @ 7.0% cap · market cap 3.79%
Second Best
Hotel Hospitality
$404.0K
$353.5K – $471.4K
NOI $28,283 @ 7.0% cap · market cap 1.51%
Theoretical Best
Office A
$2.76M
$2.42M – $3.23M
NOI $193,524 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,811
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Henry Derby House — 47 summer st, salem, ma 01970
- Morning Glory Bed & Breakfast — 22 Hardy St, Salem, MA 01970
- John Edwards Vacation Rental — 49 summer st, salem, ma 01970
- Leasing Office At Princeton Crossing — 12 Heritage Dr, Salem, MA 01970
- Silsbee's by Daniels House — 53 Essex St, Salem, MA 01970
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Renovated in 2016, the property combines formal entertaining areas, multiple suites, and a private fenced yard.
Where is this bed & breakfast located?
The property is located at 314 Essex St Salem, MA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Built in 1755 with Georgian‑style gambrel architecture; More than 4,500 SF of living space on 3 levels; Completely renovated in 2016
