Heavy Civil Contractor
57-RR Grove St Salem, MA 01970
57-RR Grove St, Salem, MA, 01970
$1,800,000
For Sale
$1,800,000
Fully operational heavy civil construction company included with a 4,784 sq ft industrial building and equipment-ready parcels.
Property Size4,784 SF
Price / SF$376.25
Days on Market12
Property Features for 57-RR Grove St
General Information
- Standard status
- Active
- Size
- 4,784 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing agency
Conway - Swampscott
(339) 228-7561
Listed by
Robinson Mendez
(339) 228-7561
Source
Lockandkeyre
Added: Jul 10 Updated: Jul 21 at 4:20AM Checked: Jul 21 at 4:20AM
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 Conway - Swampscott
Investment Insights
Based on property information with market context.
This turnkey offering pairs a fully operational heavy civil construction company with commercial real estate, including a 4,784 sq ft commercial building designed for heavy equipment work. The building has 50-foot-deep bays, five bay doors, and 12-foot ceiling height. The main parcel is 19,378 sq ft, plus an additional 4,996 sq ft lot suitable for equipment storage, vehicle parking, and future expansion.
The sale includes K&B Excavating, a division of Brennan Construction, Inc., operating for over 40 years as a heavy civil site-work contractor specializing in excavation, demolition, utility installation, roadwork, building pad preparation, and snow and ice management for public and private sector clients.
Also included are two NRCC-zoned parcels, providing additional site area to support existing operations and planned growth. The package is described as including real estate, the business, equipment, and long-standing client relationships.
The sale includes K&B Excavating, a division of Brennan Construction, Inc., operating for over 40 years as a heavy civil site-work contractor specializing in excavation, demolition, utility installation, roadwork, building pad preparation, and snow and ice management for public and private sector clients.
Also included are two NRCC-zoned parcels, providing additional site area to support existing operations and planned growth. The package is described as including real estate, the business, equipment, and long-standing client relationships.
Key Highlights
- 4,784 sq ft commercial building with 50‑foot‑deep bays, five bay doors, and 12‑foot ceiling height for heavy equipment use
- 19,378 sq ft main parcel plus an additional 4,996 sq ft lot for equipment storage, vehicle parking, and future expansion
- Fully operational heavy civil construction company included (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 |
4,784 SF · lease $16.08/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$882.7K
$772.4K – $1.03M
NOI $61,791 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,248 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
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- Self-Storage at U-Haul — 43 Jefferson Ave, Salem, MA 01970
FAQs
What type of property is this?
Warehouse - Fully operational heavy civil construction company included with a 4,784 sq ft industrial building and equipment-ready parcels.
Where is this warehouse located?
The property is located at 57-RR Grove St Salem, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 4,784 sq ft commercial building with 50‑foot‑deep bays, five bay doors, and 12‑foot ceiling height for heavy equipment use; 19,378 sq ft main parcel plus an additional 4,996 sq ft lot for equipment storage, vehicle parking, and future expansion; Fully operational heavy civil construction company included (K&B Excavating, a division of Brennan Construction, Inc.)
