First-Floor Retail
For Sale
$225,000
939 Salem St 5, Groveland, MA 01834
Open-concept commercial condominium with private restroom, climate control, attic storage, and on-site parking.
Property Size951 SF
Price / SF$236.59
Days on Market55
Property Features for 939 Salem St 5
General Information
Standard status
Active
Size
951 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Road Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,131
Amenities
private restroom
central heating and air conditioning
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Stephen Cavanaugh · License #452001527
(978) 852-3936
Source:
Elliman
Added: Aug 12
Changed: Sep 29
Last Checked: Oct 4 at 11:13AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
Unit 5 is a well-maintained commercial condominium with approximately 951 SF of open-concept space on the first floor. An additional ~650 SF of attic storage expands the usable configuration, while a private restroom and central heating and air conditioning support day-to-day operations. The layout is suited to retail or professional office use.
The property is positioned on Route 97 at 939 Salem St in Groveland, Massachusetts, within a 9-unit plaza. On-site parking is provided, and the association is self-managed. Constructed in 2001, the condominium offers a compact commercial setting with both customer-facing and storage areas.
The property is positioned on Route 97 at 939 Salem St in Groveland, Massachusetts, within a 9-unit plaza. On-site parking is provided, and the association is self-managed. Constructed in 2001, the condominium offers a compact commercial setting with both customer-facing and storage areas.
Key Highlights
- Approximately 951 SF of first‑floor open‑concept space
- Additional ~650 SF of attic storage
- Private restroom and central heating and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,625
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,500
$312.5K
Cap Rate 7%
$223,214
$223.2K
Cap Rate 9%
$173,611
$173.6K
Market Conditions
NOI Build-Up for 951 SF
Gross rent
$22.8K $24.00/SF
− Vacancy
−$502 −$0.53/SF
EGI
$22.3K $23.47/SF
− OpEx
−$6.7K −$7.04/SF
NOI
$15.6K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,500
Cap Rate 7%
$223,214
Cap Rate 9%
$173,611
Alternative Uses
Best Use
Office B
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 11.78%
Second Best
Retail
$223.2K
$195.3K – $260.4K
NOI $15,625 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,409 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 01834, MA
6,752
Population
2,756
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
8.9 sq mi
ZIP Area
759
Density / Sq Mi
$135,521
Median Household Income
$79,521
Median Earnings
$1,815
Median Rent
$571,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Open-concept commercial condominium with private restroom, climate control, attic storage, and on-site parking.
Where is this retail space located?
The property is located at 939 Salem St 5 Groveland, MA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Approximately 951 SF of first‑floor open‑concept space; Additional ~650 SF of attic storage; Private restroom and central heating and air conditioning
