Salem Restaurant Space For
For Lease
$26 SF/Yr NNN
331 Lafayette St, Salem, MA 01970
Second generation restaurant space in Salem with on-site parking.
Space SizeContact for details
Property Size2,794 SF
Days on Market123
Property Features for 331 Lafayette St
General Information
Standard status
Active
Size
2,794 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$85,384
Building Details
Building Size
2,794 SF
Year Built
2017
Listing Agency:
The Drumlin Group Inc.
(617) 921-3020
Listed By:
Mark Shapiro · License #9010260
(617) 921-3020
Source:
Elliman
Added: Apr 14
Changed: Aug 11
Last Checked: Jul 15 at 9:20PM
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 Drumlin Group Inc.
Investment Insights
Based on property information with market context.
This is an opportunity to lease a second generation restaurant in a highly visible location with on-site parking. The building is less than ten years old and features an attractive design. The property includes outdoor seating and 49 interior seats. There are two handicap bathrooms within the space. The Salem location, close to Marblehead and Swampscott, makes the space suitable for a variety of restaurant types. Currently configured as a pizza restaurant, this space is available for new restaurant concepts. The quoted rent is triple net. The location has a bike score of 64, indicating it is bikeable, and a walk score of 92, designating it as a walker's paradise. The transit score is 38, indicating some transit options are available.
Key Highlights
- Walker's Paradise: Enjoy excellent walkability with a Walk Score of 92.
- Second Generation Restaurant: Ready‑to‑go restaurant space minimizes startup costs.
- High‑Visibility Location: Attracts customers with prominent exposure.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
536
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 13% below 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 - Second generation restaurant space in Salem with on-site parking.
Where is this conventional restaurant located?
The property is located at 331 Lafayette St Salem, MA.
What is the lease rate?
The lease rate is $26 SF/Yr.
What are key features of this property?
This property features: Walker's Paradise: Enjoy excellent walkability with a Walk Score of 92.; Second Generation Restaurant: Ready‑to‑go restaurant space minimizes startup costs.; High‑Visibility Location: Attracts customers with prominent exposure.
