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    280 Bridge St Salem, MA 01970

    Sponsored
    For Sale
    $390,000

    Prime Salem location, 1,106 sq ft, high traffic.

    Property size:
    1,106 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,106-square-foot freestanding commercial building is ideally situated in Salem, Massachusetts, just steps from the Salem train station. Boasting a high pedestrian and traffic count, this property presents a unique investment opportunity for owner-users. Currently zoned North River Canal Corridor (NRCC), the building offers versatile usage potential. Previously operating as a bait and tackle shop, the space requires complete renovation, allowing for a fresh start and customized design. The 0.07-acre lot includes a small parking area. The asking price is $390,000, translating to $352.62 per square foot. The property's zoning permits a wide range of uses, including, but not limited to: artist lofts, studios, galleries, trade schools, business and professional offices, medical/dental offices, single-family homes, and various retail options such as convenience stores, coffee shops, and more. Certain uses, such as restaurants, bars, and breweries, may require special permits. With significant development planned for the immediate area, this property offers a chance to be part of Salem's exciting growth. The seller is open to discussing various business ideas and lease arrangements. This is a rare opportunity to acquire a prime commercial property in a thriving Massachusetts location.

    Property Features for 280 Bridge St

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,106 SF
    Lot Size
    3,049 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 1,106 SF freestanding commercial building in Salem, MA, steps from the train station.
    • High pedestrian/traffic count, ideal for owner‑users.
    • 0.07‑acre lot with small parking area; $390,000 asking price ($352.62/SF).
    • Needs complete renovation; zoned NRCC, allowing diverse uses (retail, office, residential, etc., some uses may require special permits).
    • Excellent investment opportunity in a rapidly developing area; seller open to lease options and business discussions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8993236
    Latitude
    42.5239684

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    FAQs

    What type of property is this?
    Individual retail property - Prime Salem location, 1,106 sq ft, high traffic.
    Where is this individual retail property located?
    The property is located at 280 Bridge St Salem, MA.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: 1,106 SF freestanding commercial building in Salem, MA, steps from the train station.; High pedestrian/traffic count, ideal for owner-users.; 0.07-acre lot with small parking area; $390,000 asking price ($352.62/SF).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    280 Bridge St Salem, MA 01970
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