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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    289 Main St, Unit 3 Salem, NH 03079-2731

    • Office Properties & Spaces
    • 1,005 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2020
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    6.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US58-0159615
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Marriage & Family Therapy Associates / Counselor
    • Sullivan Leah / Law Firm
    • At Your Haven Private Services / Home Health Care Service
    • Skin Solutions Day Spa / Facial Spa / Massage Spa
    • Law Office of Robert H. Prince, J.D. / Law Firm / Criminal Justice Attorney

    Property Details for 289 Main St

    Year built
    1970
    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    1,005 SF
    Zone code
    RES
    Property type
    Office Properties & Spaces
    APN
    SLEM M:84 B:1513 L:3
    APU
    SLEMM84B1513L3

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $305,000
      6.5%
      $285,000
      7%
      $265,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $180,000
      Current use
      AUTO REPAIR, GARAGE
      $265,000
      Change: +46% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $230,000
      Change: +28% Conversion: Easy
      RETAIL STORES
      $220,000
      Change: +20% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.203
    Latitude
    42.7884
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,028
    $0.00
    $60,600
    $60,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $220,000
      635 SF

      202 Main St Ste, Unit 201

      CONDOMINIUM OFFICES • 635 SF
      202 Main St Ste, Salem, NH 03079-3170
      View Details
    • Value Estimation
      $235,000
      920 SF

      93 Stiles Rd Ste, Unit 201

      CONDOMINIUM OFFICES • 920 SF
      93 Stiles Rd Ste, Salem, NH 03079-5815
      View Details
    • Value Estimation
      $240,000
      960 SF

      85 Stiles Rd Ste, Unit 201

      CONDOMINIUM OFFICES • 960 SF
      85 Stiles Rd Ste, Salem, NH 03079-4806
      View Details
    • Value Estimation
      $245,000
      817 SF

      95 Stiles Rd Ste, Unit 205

      CONDOMINIUM OFFICES • 817 SF
      95 Stiles Rd Ste, Salem, NH 03079-5813
      View Details
    • Value Estimation
      $210,000
      720 SF

      395 Main St Ste, Unit 5

      CONDOMINIUM OFFICES • 720 SF
      395 Main St Ste, Salem, NH 03079-2464
      View Details
    • Value Estimation
      $270,000
      550 SF

      85 Stiles Rd Ste, Unit 203

      CONDOMINIUM OFFICES • 550 SF
      85 Stiles Rd Ste, Salem, NH 03079-4806
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.45 Acres

      Salem Office Suite - Main Street

      Move-in ready office suite, prime location.
      289 Main St, Salem, NH 03079
      View Details
    • Contact for pricing
      21,887 SF

      with a longer lease term available. Existing furniture

      fixtures & equipment may be negotiable (a list is forthcoming). Future renovations at the expense of the new tenant and subject to prior approval by the owner\/landlord and Town officials. Uses must be complimentary with existing businesses at Eastpointe Plaza. This information was secured from sources deemed reliable
      130 Main St, Salem, NH 03079
      View Details
    • Contact for pricing
      10,496 SF

      Salem Medical Office Building

      10,496 SF Medical Office, 100% Occupancy
      103 Stiles Rd, Salem, NH 03079
      View Details
    • $2,000,000
      10,496 SF

      Renovated Office Building in Salem

      Two-story office building with modern renovations and high-end finishes.
      103 Stiles Rd, Salem, NH 03079
      View Details
    • $654,900
      0.35 Acres

      Two-Story Office Suite For Sale

      Two-story office suite with parking near Interstate Rte 93.
      90 Stiles Rd, Salem, NH 03079
      View Details
    • $600,000
      4,000 SF

      Office-Warehouse Space For Sale

      Office-warehouse space with loading dock, suitable for various businesses.
      50 Northwestern Dr, Salem, NH 03079
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      1,135 SF

      Salem Office Space For Rent

      1,135+/- sq. ft. office space in Salem, NH.
      89-91 Stiles Rd, Salem, NH 03079
      View Details
    • $1,800 /Mo
      950 SF

      Route 28 Retail/Office Space

      950+/- sq ft retail/office space on Route 28.
      227 N Broadway, Salem, NH 03079
      View Details
    • $950 /Mo
      850 SF

      Retail-Office Unit For Lease

      850+/- sq. ft. retail-office unit for lease.
      341 S Broadway, Salem, NH 03079
      View Details
    • Contact for pricing
      19,602 SF

      Salem Professional Park Office Suite

      Move-in ready office suite in Salem Professional Park.
      289 Main St, Salem, NH 03079
      View Details
    • $28 SF/Yr
      46,675 SF

      Salem Medical Office Space for Lease

      Class A medical office, 1,439 SF available
      31 Stiles Rd, Salem, NH 03079
      View Details
    • $15 SF/Yr
      4,000 SF

      Freestanding Office Space Near I-93

      Office space with highway access, near Boston express bus.
      9 Red Roof Ln, Salem, NH 03079
      View Details
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    289 Main St, Unit 3
    Salem, NH 03079-2731
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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