First-Floor Flex
For Lease
$13.50 SF/Yr NNN
50 Grove St, Salem, MA 01970
Open commercial space offers high ceilings, abundant natural light, and shared on-site parking.
Space SizeContact for details
Days on Market31
Property Features for 50 Grove St
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$37,749
Listing Agency:
The Drumlin Group Inc.
(617) 921-3020
Listed By:
Mark Shapiro
(617) 921-3020
Source:
Exprealty
Added: Jul 21
Changed: Aug 20
Last Checked: Aug 20 at 11:08AM
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 5,500-square-foot first-floor flex space is primarily open, with high ceilings and substantial natural light. The premises include a private commercial sink, shared restrooms with the adjacent tenant, and access to pro-rata on-site parking. The space was most recently used for light assembly and previously operated as a social club and function hall. Lease terms are structured on a triple-net basis, with utilities handled separately.
The property is located at 50 Grove St. in Salem, at the intersection of Grove St., Harmony Grove Rd., and Mason St. Access is available from Routes 128, 114, 107, and 1A. The Commuter Rail Station and T Bus line are approximately a 15–20 minute walk away.
The property is located at 50 Grove St. in Salem, at the intersection of Grove St., Harmony Grove Rd., and Mason St. Access is available from Routes 128, 114, 107, and 1A. The Commuter Rail Station and T Bus line are approximately a 15–20 minute walk away.
Key Highlights
- 5,500 sq. ft. of primarily open first‑floor flex space
- High ceilings and significant natural light
- Private commercial sink within the premises
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
933
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
$17.01 /SF/Yr
Avg Asking Price
$12.78–$36 /SF/Yr
Price Range
10,235 SF
Avg Space Size
This space is priced 21% below the average of $17.01 /SF/Yr.
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Open commercial space offers high ceilings, abundant natural light, and shared on-site parking.
Where is this flex space located?
The property is located at 50 Grove St Salem, MA.
What is the lease rate?
The lease rate is $13.50 SF/Yr.
What are key features of this property?
This property features: 5,500 sq. ft. of primarily open first‑floor flex space; High ceilings and significant natural light; Private commercial sink within the premises
