Four-Unit Retail Building and
697-705 Salem Street Malden, MA 02148
697-705 Salem Street, Malden, MA, 02148
$1,399,000
For Sale
$1,399,000
Mixed-use income property combining a four-unit retail building with a two-family home on one lot.
Property Size7,000 SF
Price / SF$199.86
Days on Market43
Property Features for 697-705 Salem Street
General Information
- Standard status
- Active
- Size
- 7,000 SF
Building Details
- Year Built
- 1900
Listing Agency
Coldwell Banker Realty - Waltham
Listed by
Dave DiGregorio
Source
413realestate
Added: Jun 5 Checked: Jul 17 at 2:48 am
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 Coldwell Banker Realty - Waltham
Investment Insights
Based on property information with market context.
This offering includes a four-unit commercial retail building together with a two-family home, all located on a single lot. The commercial component provides multiple retail units within one structure, while the attached residential component offers an additional rental unit mix. The two-family home is described as requiring major TLC, giving the buyer flexibility to renovate, reimagine, or reposition the residential portion.
The property is identified as a Salem Street commercial building in Maplewood Square, with the full address provided as 697-705 Salem Street, Malden, MA 02148. The public remarks indicate the commercial building is positioned along a corridor described as high-traffic and high-visibility, supporting retail-style exposure for the existing units.
For investors and developers, the key advantage here is the ability to own both commercial and residential income in one package, with multiple paths forward. The retail building can support an ongoing rental strategy, while the two-family home presents an opportunity for renovation to improve functionality and marketability. The seller notes group showings only, so prospective buyers should coordinate through their broker for scheduling.
The property is identified as a Salem Street commercial building in Maplewood Square, with the full address provided as 697-705 Salem Street, Malden, MA 02148. The public remarks indicate the commercial building is positioned along a corridor described as high-traffic and high-visibility, supporting retail-style exposure for the existing units.
For investors and developers, the key advantage here is the ability to own both commercial and residential income in one package, with multiple paths forward. The retail building can support an ongoing rental strategy, while the two-family home presents an opportunity for renovation to improve functionality and marketability. The seller notes group showings only, so prospective buyers should coordinate through their broker for scheduling.
Key Highlights
- Year built 1900 mixed‑use property combining a four‑unit retail building with a two‑family home on one lot
- Includes 4‑unit Salem Street commercial building with rental potential
- Two‑family home on the same lot; requires major TLC (value‑add potential with improvements)
Local Financial Insights For Retail
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 | $153.7k | $21.96 |
| − Vacancy | −$10.0k | −$1.43 |
| EGI | $143.7k | $20.53 |
| − OpEx | −$43.1k | −$6.16 |
| NOI | $100.6k | $14.37 |
7,000 SF · lease $21.96/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.12M
$1.85M – $2.47M
NOI $148,122 @ 7.0% cap · market cap 10.59%
Second Best
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,276 @ 7.0% cap · market cap 9.96%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,078 @ 7.0% cap · market cap 20.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Mixed-use income property combining a four-unit retail building with a two-family home on one lot.
Where is this retail space located?
The property is located at 697-705 Salem Street Malden, MA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Year built 1900 mixed‑use property combining a four‑unit retail building with a two‑family home on one lot; Includes 4‑unit Salem Street commercial building with rental potential; Two‑family home on the same lot; requires major TLC (value‑add potential with improvements)
