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Financial
Distress signals
Property profile

262 Essex St 3 Salem, MA 01970

FOR SALE
Other office properties
Property ID
US38-0815217
2,363 SF 0.07 ac lot Built 1984
Last sale Jul 2021 · $585,000
Individually Owned Owner of record is an individual. 5-yr Hold Held for 5 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

A third-floor walk-up office suite in downtown Salem, configured with two private offices, a conference room, open work areas for workstation use, a reception area, kitchenette, print room, restrooms, storage, and an IT area. Access to an upper-level mezzanine is provided via a circular stairway. Interior features include exposed brick and beams, visible structural elements, a distinctive ceiling line, and skylights that provide natural light. The suite is located adjacent to a municipal…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$12k
Tax billed · 2024
Assessed value$505k
Assessed improvement$505k
Effective rate2.37%

Value estimate

· Oct 2026
$840k
$756k – $924k
AI approach$765k
CAP approach$1.08M
Submarket $/SF estimate$936k
NOI build-up
Gross scheduled income$108k
Vacancy & credit loss−$20k
Operating expenses−$22k
NOI · 439,093.33% cap applied$66k

Realmo valuation models over county records and 22 qualifying comparable sales.

Recently sold

What actually traded nearby?
$287/SF
ZIP average, outlier-cleaned · 32 recorded sales of this use type
Observed band · Q1–Q3$150 – $396
Qualifying comparables22

Cap rate analysis

How does the asset earn?
439,093.33%
$66k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
B5
Applicability to Central Business (B5) Zoning District: For projects in the Central Business (B5) District, this Section 8.9 shall be app...
General categoryUNKNOWN
JurisdictionSALEM

Location intelligence

Which uses thrive at this corner?
Best fit: Locksmith
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Locksmith9.7
Assisted Living Facility9.1
Butcher8.5

Location

262 Essex St, Unit 3 Salem, MA 01970
County assessor Recorded deeds · 2 transfers 22 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
167 Boston, Salem, MA 01970-1430 $630,000 Jan 2025 2,834 SF
193 Jefferson, Salem, MA 01970-2958 $675,000 Jun 2024 2,248 SF
560 Loring, Salem, MA 01970-4236 $650,000 Feb 2024 2,076 SF
4 Norman, Salem, MA 01970-3314 $455,000 May 2022 2,066 SF
165 Boston, Salem, MA 01970-1430 $425,000 Apr 2022 2,400 SF
564 Loring, Salem, MA 01970-4276 $500,000 Oct 2020 2,496 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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