57-rr Grove Street Salem, MA 01970
Heavy civil contractor facility with a 4,784 sq ft warehouse, bay doors, and additional NRCC-zoned land for storage.
Property Features for 57-rr Grove Street
General Information
- Standard status
- Active
- Size
- 4,784 SF
- Lot size
- 0.56 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing office Conway - Swampscott
Listing date Jul 7, 2026
Source Kelleyrege
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All listing content including descriptions, pricing, images are the copyrighted material of Conway - Swampscott
Investment Insights
Based on property information with market context.
The real estate is accompanied by K&B Excavating, a division of Brennan Construction, Inc., with over 40 years of continuous operation. The business focuses on excavation, demolition, utility installation, roadwork, building pad preparation, and snow and ice management for both public and private sector clients.
Also included are two NRCC-zoned parcels, supporting a turnkey acquisition designed for ongoing operations and immediate site use.
Key Highlights
- 4,784 sq ft commercial building with 50‑foot‑deep bays, five bay doors, and 12‑foot ceiling height
- 19,378 sq ft main parcel plus an additional 4,996 sq ft lot for equipment storage, vehicle parking, and future expansion
- Includes a fully operational heavy civil construction business: K&B Excavating, a division of Brennan Construction, Inc.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.9k | $16.08 |
| − Vacancy | −$4.2k | −$0.88 |
| EGI | $72.7k | $15.20 |
| − OpEx | −$10.9k | −$2.28 |
| NOI | $61.8k | $12.92 |
Alternative Uses
Property Analytics
Current Use by Public Records
Similar For Sale Nearby
Similar Off Market Nearby
- TE Andresen — 36 Jefferson Ave #38, Salem, MA 01970
- United Van Lines — 32 Jefferson Ave, Salem, MA 01970
- Public Storage — 12 Goodhue St, Salem, MA 01970
- Advantage Self Storage — 4 Jefferson Ave, Salem, MA 01970
- Self-Storage at U-Haul — 43 Jefferson Ave, Salem, MA 01970
