Flexible Light Industrial
For Lease
$13 SF/Yr NNN
50 Grove Street, Salem, MA 01970
First-floor suite with high ceilings and natural light, plus private sink and shared restroom access.
Space SizeContact for details
Days on Market41
Property Features for 50 Grove Street
General Information
Standard status
Active
Lease Type
NNN
Building Details
Year Built
1910
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
David Hark · License #9010260
(617) 993-4639
Source:
Flowrealty
Added: Jul 14
Changed: Aug 23
Last Checked: Aug 22 at 9:43AM
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 Drumlin Group Inc.
Investment Insights
Based on property information with market context.
Available for lease is primarily open first-floor flex/light industrial space of approximately 5,500 square feet, designed with high ceilings and natural light. The suite includes a private commercial sink and provides shared restroom access with the adjacent tenant.
The property is accessible from multiple nearby routes, including Rts. 128, 114, 107, and 1A. On-site parking is available on a pro-rata, in-common basis.
The prior use before the most recent light assembly tenant was a social club/function hall, and the landlord indicates the space may be suitable for various commercial uses. Lease terms are triple net, with the tenant responsible for a proportionate share of real estate taxes (RET), CAM, and building insurance, which is currently running about $4.00 per square foot, in addition to utilities.
The property is accessible from multiple nearby routes, including Rts. 128, 114, 107, and 1A. On-site parking is available on a pro-rata, in-common basis.
The prior use before the most recent light assembly tenant was a social club/function hall, and the landlord indicates the space may be suitable for various commercial uses. Lease terms are triple net, with the tenant responsible for a proportionate share of real estate taxes (RET), CAM, and building insurance, which is currently running about $4.00 per square foot, in addition to utilities.
Key Highlights
- 5,500 sq. ft first‑floor lease space with high ceilings and natural light
- Private commercial sink in the suite
- Shared restrooms with the adjacent tenant
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 24% below the average of $17.01 /SF/Yr.
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
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- Hungry Nomads Boston — 71 Wallis St, Peabody, MA 01960
- Oh Jolie Catering — 76 Walnut St #1B, Peabody, MA 01960
Frequently Asked Questions
What type of property is this?
Flex space - First-floor suite with high ceilings and natural light, plus private sink and shared restroom access.
Where is this flex space located?
The property is located at 50 Grove Street Salem, MA.
What is the lease rate?
The lease rate is $13 SF/Yr.
What are key features of this property?
This property features: 5,500 sq. ft first‑floor lease space with high ceilings and natural light; Private commercial sink in the suite; Shared restrooms with the adjacent tenant
