Building Details

Year Built 1900

Listing Agency: David Seetaram Show Phone

Listed By: David Seetaram

Source: Corcoran

Added: Apr 14 Changed: Aug 8 Last Checked: Apr 14 at 7:08AM

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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 David Seetaram

Investment Insights

Based on property information with market context.

This property in Salem presents a development opportunity with concept plans for a 17-unit multifamily building. The proposed layout includes studio, one-bedroom, and two-bedroom units, designed for efficient space utilization and strong rental performance. The property offers redevelopment potential, including possible use under Massachusetts Chapter 40R, which allows developers to benefit from smart growth zoning strategies and increased density. The location is in a high-demand rental market, with proximity to downtown Salem, transportation options, and access to Boston, presenting a compelling opportunity for developers seeking long-term upside.

Key Highlights

• Prime development opportunity in Salem.
• Concept plans for a 17‑unit multifamily building included.
• Potential for increased density under Massachusetts Chapter 40R.

Property Analytics

Property Profile

Current Use

Commercial land

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Computer & Electronic Repair Butcher Pet Grooming Service Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,708

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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Frequently Asked Questions

What type of property is this?

Commercial land - Development opportunity in Salem with multifamily concept plans.

Where is this commercial land located?

The property is located at 64 Ward St Salem, MA.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: Prime development opportunity in Salem.; Concept plans for a 17‑unit multifamily building included.; Potential for increased density under Massachusetts Chapter 40R.