Financial
Distress signals
Property profile

296 Highland Ave Salem, MA 01950

FOR LEASE
Other investment properties
Property ID
US38-1491137
4,488 SF 12.04 ac lot Built 1950
Last sale Oct 2022 · $2,100,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 3-yr Hold Held for 3 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property consists of two commercial lots with more than 200 feet of frontage on Highland Avenue in a high-traffic retail corridor. The site has approval for auto body use and is configured for automotive sales, service, repair, and collision operations, with a primary parcel containing a 4,261-square-foot automotive facility featuring six service bays, four lifts, showroom space, a manager’s office, a title office, parts and stock rooms, a customer waiting area, a break room, an

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax

What does the county charge?
Assessed value · 2024$1.56M
Assessed land$1.31M
Assessed improvement$257k

Value estimate

· Sep 2026
$1.81M
$1.63M – $1.99M
AI approach$2.05M
CAP approach$1.40M
Sales comparison$2.35M

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

What actually traded nearby?
$277/SF
ZIP average, outlier-cleaned · 43 recorded sales of this use type
Observed band · Q1–Q3$146 – $523
Qualifying comparables5

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
B2
The Intent of this To promote Business Highway Uses
General categoryCOMMERCIAL
JurisdictionSALEM

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm22.2
Realty agency21.6
Restaurant16.7

Location

296 Highland Ave Salem, MA 01950
County assessor Recorded deeds · 2 transfers 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
206 Derby, Salem, MA 01970 $750,000 May 2025 4,976 SF
2 Essex, Salem, MA 01970-5850 $1,400,000 Aug 2023 5,608 SF
268 Washington, Salem, MA 01970-5948 $900,000 Nov 2022 5,034 SF
82 Derby, Salem, MA 01970-5808 $1,000,000 Jun 2022 3,875 SF
249 Lafayette, Salem, MA 01970-4776 $800,000 Jan 2022 4,576 SF
98 Nn, Salem, MA 01970-7426 $625,000 Apr 2021 3,754 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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