Individually Owned 
For Sale
1 / 3
$635,000
1 S Mason St, Salem, MA 01970
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Property summary
AI-generated overview
This one-story, steel-framed industrial building contains three drive-in doors and approximately 2,160 square feet of interior space. The interior layout is designed to be nearly column-free, providing a largely open floor plan suitable for light industrial or maker-style uses. The building requires renovations and is located within the North River Corridor zoning district. Within this zoning context, automotive service is not permitted, while other uses are allowed, including residential and mixed residential and commercial uses, either by right or with special permit, depending on the specific proposed use.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1955
Construction
STEEL FRAME
Total area
2,160 SF
Lot
0.14 ac (6,238 SF)
Zoning code
BP
APN
SALE M:26 L:0060
UPID
US38-1647190
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Repair Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$345k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$345k
Owner & transaction history
since 2018
4 recorded transactions
Zoning & alternative use
BP · Salem, MA
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 9 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$345k
Value range
$311k – $380k
±10% around blend
Estimated value / SF
$160 / SF
Confidence
High
9 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
90
Income certainty
100
$311k
blend $345k
$380k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,160 SF
Lot area
0.14 ac
Year built
1955
Stories
1
APN
SALE M:26 L:0060
Zoning
BP
Assessed value
$186,000
Annual tax
$4,406
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$4,406
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.37M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
13.3 mi away · 2,267 SF
13.3 mi away · 1,543 SF
19.9 mi away · 1,512 SF
20.9 mi away · 2,214 SF
21.1 mi away · 2,800 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$345k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 111 sales
$240
-33%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $160/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Selected market yield
5.93%
Selected cap rate for this auto shops
Derived from the Salem market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.93%
9.0%
NOI (est.)
$38k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$636k
Move the market yield to see immediate price impact.
Value / SF
$294
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.43%5.93%6.43%
$34k
$625k
$572k
$527k
$38k
$694k
$636k
$586k
$41k
$763k
$699k
$645k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$1.30M
1.9 mi · Dec 2025 · $712/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,406
Tax year 2024
Assessed value
$186,000
Assessed 2024
Previous assessed
$186,000
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$104,600
Assessed improvement
$81,400
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Bathrooms
1
Total area
2,160 SF
Lot
0.14 ac (6,238 SF)
Zoning code
BP
APN
SALE M:26 L:0060
UPID
US38-1647190
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BP · Salem, MAZoning BP · permitted uses
BP · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Bathrooms
1
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BP
Jurisdiction
Salem, MA
Recorded code
BP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for BP in Salem, MA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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