Listing Agency: Drumlin Group Inc i***@drumlingroup.com Show Phone

Listed By: David Hark · License #9010260

Source: Crexi

Added: Apr 11 Changed: Aug 30 Last Checked: Aug 30 at 2:04AM

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Investment Insights

Based on property information with market context.

This industrial land parcel previously contained an industrial building and is currently used for lobster company boat and equipment storage. The property is located at 5 Florence Street in Salem, Massachusetts, off Canal Street and behind the Salem Car Wash.

Key Highlights

• Industrial land parcel in Salem, Massachusetts
• Previously contained an industrial building
• Current use includes lobster company boat storage

Property Analytics

Property Profile

Current Use

Industrial land

Suggested Use

Top Pick Locksmith Nursing Home Pet Grooming Service (Bike/Boat/Book/etc) Store Butcher Pet Store

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

Location Intelligence

Trade Area within ½ mile

2,896

Businesses Nearby

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 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

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Frequently Asked Questions

What type of property is this?

Industrial land - Land currently used for boat and equipment storage with prior industrial site use.

Where is this industrial land located?

The property is located at 5 Florence Street Salem, MA.

What are key features of this property?

This property features: Industrial land parcel in Salem, Massachusetts; Previously contained an industrial building; Current use includes lobster company boat storage