230 Salem StMalden, MA 02148

Property Details for 230 Salem St

Year built

1974

Construction

STEEL FRAME

Lot size

0.13 AC

Property size (Sq ft)

1,920 SF

Zone code

NB

Property type

Retail properties

Property subtype

Retail space

APN

MALD M:093 B:708 L:801

APU

MALDM093B708L801

Description

This 1,872 square foot commercial building, located at 230 Salem Street in Malden, Massachusetts (zip code 02148), presents a versatile investment opportunity. Situated on a 5,715 square foot lot, this single-story, one-unit building is zoned NB and offers significant potential for a variety of uses. Previously a convenience store, the property currently houses a laundromat with 28 washers and 41 dryers, offering a potential buyer the option to continue this operation or pursue other commercial ventures. The high-traffic location on Salem Street provides excellent visibility and accessibility. The building, renovated in 1974, offers on-site parking for eight vehicles. The property is being sold "as is" and is available for showing. The space could accommodate a single user or be easily converted into multiple leased spaces, suitable for businesses such as salons, offices, or food service establishments. Occupancy is available October 1, 2024. The asking price is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $466,627

  6.5%

  $430,733

  7%

  $399,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $632,185

  Geo Method

  $632,185

• Alternative Use

  Use

  Valuation

  Residential

  $363,339

  Hospitality

  $332,817

  Educational

  $276,900

  Medical

  $286,423

  Retail

  $430,733

Location Insight

City

Malden

County

Middlesex

State

Massachusetts

Latitude

42.4305

Longitude

-71.0595

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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