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    38 Norman St Salem, MA 01970

    Sponsored
    For Lease
    $30 SF/Yr ($7,225 /Mo)

    Prime Salem location, 2890 sq ft, new construction.

    Lot size:
    2,890 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A commercial property, located at 38 Norman Street in Salem, Massachusetts, offers 2,890 square feet of versatile space ideal for retail, restaurant, or special purpose uses. Situated on a 0.35-acre lot, this single-tenant building boasts new construction and is conveniently located near Salem's airport. The property features modern amenities including elevators, making it an attractive option for a variety of businesses. The building's prime location within Salem offers excellent visibility and accessibility, ensuring high foot traffic and potential for significant growth. This is a rare opportunity to secure a brand-new, high-quality commercial space in a thriving Massachusetts market. The property is anticipated to be available in 2025. The building's design and construction meet the highest standards, ensuring a functional and aesthetically pleasing space for your business. Its strategic location near the airport provides convenient access for both local clientele and those traveling through the region. With its ample square footage and versatile layout, this property presents a unique opportunity for businesses seeking a prominent presence in Salem. Inquire today to learn more about this exceptional commercial space. Zip code: 01970.

    Property Features for 38 Norman St

    General Information

    Property type
    Day care centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,890 SF
    Class
    A
    Total Rate
    7225

    Unit(s) available at that property

    Space
    Size
    2,890 SF
    Rate per SF
    $30

    HighLights

    • New construction, 2,890 SF single‑tenant building on a 0.35‑acre lot in Salem, MA.
    • 2,890 square feet of versatile space ideal for retail, restaurant, or special purpose uses.
    • First‑floor space in a mixed‑use building in downtown Salem.
    • Basement storage available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8979996
    Latitude
    42.5203221

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    FAQs

    What type of property is this?
    Day care center - Prime Salem location, 2890 sq ft, new construction.
    Where is this day care center located?
    The property is located at 38 Norman St Salem, MA.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: New construction, 2,890 SF single-tenant building on a 0.35-acre lot in Salem, MA.; 2,890 square feet of versatile space ideal for retail, restaurant, or special purpose uses.; First-floor space in a mixed-use building in downtown Salem.
    Request Owner's contact information
    38 Norman 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
    38 Norman St Salem, MA 01970
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