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Property profile & analytics
OFF-MARKET Estimated value $8,830,000
Commercial real estate

223 Derby St 223-31 Salem, MA 01970-5127

59,005 SF 1.2 ac lot Built 2002
Individually Owned 19-yr Hold Absentee Owner Free & Clear
Property ID
US38-0642053
Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL CONDOMINUIM
Year built 2002
Construction FRAME
Total area 59,005 SF
Lot 1.2 ac (52,063 SF)
Zoning code B5
APN SALE M:34 L:0446 S:901
UPID US38-0642053
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$10.04M
Blend (final) Blend
$8.83M
Owner & transaction history
Waterfro Hotel Sale · 19 yrs held
Waterfro Hotel Sale
since 2006
5 recorded transactions
2023
Price N/A
2022
Price N/A
2019
Price N/A
2013
Price N/A
2006
$1
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
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