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    280 Bridge St Salem, MA 01970

    Sponsored
    For Lease
    $27 SF/Yr ($2,488 /Mo)

    Freestanding Commercial Space, High Traffic

    Lot size:
    1,106 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,106 square foot freestanding commercial building presents a unique investment opportunity near the Salem Train Station. Boasting a prime location with high pedestrian and vehicular traffic, this single-tenant property offers significant potential for a variety of uses. Previously occupied as a bait and tackle shop, the building sits on a 0.7-acre lot and requires complete renovation. The North River Canal Corridor (NRCC) zoning allows for a wide range of permitted uses, including artist lofts, studios, galleries, trade schools, various professional offices (legal, accounting, medical, dental), single-family homes, and a variety of retail options such as convenience stores, coffee shops, and more. Uses requiring special permits include music studios, light manufacturing, breweries/distilleries/wineries with tasting rooms, hotels/inns, and restaurants/bars. The seller is open to discussing various lease arrangements or a sale, making this an adaptable property for diverse business ventures. With substantial planned development in the immediate area, this property offers a chance to capitalize on significant future growth. The small on-site parking lot adds convenience. Don't miss this chance to own a piece of Salem's vibrant commercial landscape.

    Property Features for 280 Bridge St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,106 SF
    Total Rate
    2488.5

    Unit(s) available at that property

    Space
    Size
    1,106 SF
    Rate per SF
    $66

    HighLights

    • Freestanding storefront building totaling 1,106 square feet.
    • Single‑tenant occupancy.
    • Located adjacent to the Salem Train station with high pedestrian and vehicular traffic.
    • Zoned North River Canal Corridor (NRCC), allowing for diverse uses including retail, office, and residential.
    • Needs full renovation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office 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?
    Restaurant - Freestanding Commercial Space, High Traffic
    Where is this restaurant located?
    The property is located at 280 Bridge St Salem, MA.
    What is the lease rate?
    The lease rate is $66 SF/Yr.
    What are key features of this property?
    This property features: Freestanding storefront building totaling 1,106 square feet.; Single-tenant occupancy.; Located adjacent to the Salem Train station with high pedestrian and vehicular traffic.
    Request Owner's contact information
    280 Bridge St Salem, MA 01970
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    Salem, MA 01970
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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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