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Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Turn key restaurants
17 Canal St Salem, MA 01970-4881
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1296633
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1914
Construction
STEEL FRAME
Total area
13,299 SF
Lot
0.42 ac (18,408 SF)
Zoning code
B5
APN
SALE M:34 L:0301
UPID
US38-1296633
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Brito Ice Industrial Manufacturer Production Facility
-
Sammy's Roast Beef & Seafood Restaurant
-
Thistle Piercing & Fine Jewelry Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.33M
Blend (final)
Blend
$2.34M
Owner & transaction history
Canal Area LLC · 3 yrs held
Canal Area LLC
since 2023
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,300,000
ML approach
$2,335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,815,000
Change: -17% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,680,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±10% · vs last sale $2.35M (May 1 2023)
Last sale anchor
$2.35M
May 1 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$176 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$40,827
Tax year 2024
Assessed value
$1,723,400
Assessed 2024
Previous assessed
$1,723,400
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$558,000
Assessed improvement
$1,165,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1914
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
3
Bathrooms
5
Total area
13,299 SF
Lot
0.42 ac (18,408 SF)
Zoning code
B5
APN
SALE M:34 L:0301
UPID
US38-1296633
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B5 · Salem, MA
Zoning B5 · permitted uses
B5 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.7M
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1914
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
3
Bathrooms
5
Lot
0.42 ac
Current owner
From public records · entity-resolved
Canal Area LLC
Entity
Mailing address
17 CANAL ST, SALEM, MA 01970-4881
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
—
Canal Area LLC
—
Deed
related
$1,250,000 · East Cambridge Savings Bank
May 1, 2023
$2,350,000
Canal Area LLC
17 Canal Street LLC
Quit Claim Arm's Length For Ne States
—
Jun 4, 2019
$1,700,000
17 Canal Street LLC
Brito Realty LLC
Quit Claim Deed
—
Oct 6, 2006
—
Brito Realty LLC
—
Deed Of Trust
related
$150,000 · Salem Five Cents Savings Bank
Apr 20, 2004
—
Brito Realty LLC
—
Deed Of Trust
related
$650,000 · Heritage Cp Bank
Dec 24, 1997
$575,000
Brito Realty LLC
Peabody Ventures Two
Grant Deed
$550,000 · Danvers Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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