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Property profile & analytics
OFF-MARKET Estimated value $1,990,000
Hotels

203 Essex St Salem, MA 01970-3727

27,900 SF 0.2 ac lot Built 1900
Individually Owned 10-yr Hold ~ Est. High Equity
Property ID
US38-0435677
Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1900
Construction STEEL FRAME
Total area 27,900 SF
Lot 0.2 ac (8,720 SF)
Zoning code B5
APN SALE M:35 L:0240
UPID US38-0435677
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
  • Back Room Credit Card Line Bank Loan Service
  • Local Net Telecommunications Service Data Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.46M
CAP Approach CAP
$2.60M
Comparable Approach Comparable
$1.91M
Blend (final) Blend
$1.99M
Owner & transaction history
Hotel Salem Real Estate · 10 yrs held
Hotel Salem Real Estate
since 2015
7 recorded transactions
2022
Price N/A
2018
Price N/A
2016
Price N/A
2015
$2.2M
2007
Price N/A
2006
Price N/A
2004
Price N/A
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Applicability to Central Business (B5) Zoning District: For projects in the Central Business (B5) District, this Section 8.9 shall be applicable upon approval by the Executive Office of Housing and Livable Communities of a district compliance application that includes the C-ROD district in the compliance model of the application. 8.9.4 Limitation on Uses Bel…

Zone name Central Development
General category UNKNOWN
Zone area 91.93 ac
Source zoning ordinance
Top alternative use upside
Retail stores $3.3M +87.0%
Industrial (general) $2.1M +16.5%
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