Listing Agency: Lokos Realty & Management j***@gmail.com Show Phone

Listed By: Julius Sokol Show Phone

Source: Exprealty

Added: Jul 11 Changed: Jul 26 Last Checked: Jul 29 at 1:43PM

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Investment Insights

Based on property information with market context.

Offered for lease at 5-197 Fort Ave, Salem, this insulated open warehouse/distribution space includes a dedicated commercial kitchen built out with two hoods, a walk-in, wash stations, and ample prep room. The kitchen fronts directly on the Salem Willows and features two concession windows, supporting a direct-to-public summer revenue component alongside warehouse operations.

The total offering is 4,506 square feet, with 3,225 square feet of warehouse/distribution space and 1,281 square feet allocated to the commercial kitchen. The property includes lots of dedicated parking and additional public parking available.

The listing notes NNN expenses of approximately $1,700 per month. Zoning is B2, and the owner states that only by-right and religious uses will be considered.

Key Highlights

• 3225 SF insulated open warehouse/distribution space for lease with additional 1281 SF commercial kitchen
• Fully equipped kitchen includes two hoods, walk‑in, wash stations, and plenty of prep room
• Kitchen fronts directly on the Salem Willows with two concession windows for additional summer revenue

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick HVAC Service Auto Parts Store Computer & Electronic Repair (Bike/Boat/Book/etc) Store Storage Facility Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Commercial hood

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

942

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

$18.56 /SF/Yr

Avg Asking Price

$12.78–$36 /SF/Yr

Price Range

8,101 SF

Avg Space Size

This space is priced 31% below the average of $18.56 /SF/Yr.

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - Insulated open warehouse/distribution space includes a fully equipped commercial kitchen with two hoods and concession windows.

Where is this flex space located?

The property is located at 5-197 Fort Ave Salem, MA.

What is the lease rate?

The lease rate is $4,800 /Mo.

What are key features of this property?

This property features: 3225 SF insulated open warehouse/distribution space for lease with additional 1281 SF commercial kitchen; Fully equipped kitchen includes two hoods, walk‑in, wash stations, and plenty of prep room; Kitchen fronts directly on the Salem Willows with two concession windows for additional summer revenue