Open-Plan Retail
57 Loring Ave, Salem, MA 01970
For Sale
Contact for pricing
Flexible commercial space with grade-level access, facade and pylon signage, and ample parking along a busy roadway.
Property Size4,500 SF
Price / SF$0.00
Days on Market54
Property Features for 57 Loring Ave
General Information
Standard status
Size
Property subtype
Zoning
Lease Type
Site & Location
Pylon Signage
Road Access
Taxes and HOA fees
Annual Taxes
Amenities
signage
Building Details
Building Size
Year Built
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
Mark Shapiro
(617) 921-3020
Source:
Churchillprop
Added: Sep 18
Changed: Nov 9
Last Checked: Nov 10 at 6:19AM
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.
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Investment Insights
Based on property information with market context.
This 44,500-square-foot retail property features an open interior reached through at-grade entry doors. The space is positioned for retail, restaurant, office, fitness, physical therapy, or medical use, with facade and pylon signage available. The property is zoned R1 and includes ample parking.
Located on Loring Ave in Salem, the building fronts a busy roadway within a neighborhood adding over 750 apartment units. The owner plans to install a new HVAC system and complete exterior renovations, providing additional planned improvements to the property.
Located on Loring Ave in Salem, the building fronts a busy roadway within a neighborhood adding over 750 apartment units. The owner plans to install a new HVAC system and complete exterior renovations, providing additional planned improvements to the property.
Key Highlights
- 44,500‑square‑foot retail property
- At‑grade entry doors open to a spacious interior
- Potential uses include retail, restaurant, office, fitness, physical therapy, and medical
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$731,153
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,623,060
$14.6M
Cap Rate 7%
$10,445,043
$10.4M
Cap Rate 9%
$8,123,922
$8.1M
Market Conditions
NOI Build-Up for 44,500 SF
Gross rent
$1.07M $24.00/SF
− Vacancy
−$23.5K −$0.53/SF
EGI
$1.04M $23.47/SF
− OpEx
−$313.4K −$7.04/SF
NOI
$731.2K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,623,060
Cap Rate 7%
$10,445,043
Cap Rate 9%
$8,123,922
Alternative Uses
Best Use
Specialty Retail
$11.75M
$10.28M – $13.71M
NOI $822,547 @ 7.0% cap
Second Best
Retail
$10.45M
$9.14M – $12.19M
NOI $731,153 @ 7.0% cap
Theoretical Best
Office A
$26.34M
$23.05M – $30.73M
NOI $1,844,069 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
526
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
$497,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Essex County, MA
Properties on Market for Retail space in Essex County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Flexible commercial space with grade-level access, facade and pylon signage, and ample parking along a busy roadway.
Where is this retail space located?
The property is located at 57 Loring Ave Salem, MA.
What are key features of this property?
This property features: 44,500‑square‑foot retail property; At‑grade entry doors open to a spacious interior; Potential uses include retail, restaurant, office, fitness, physical therapy, and medical
