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    Property profile & analytics

    294 Broadway Salem, NH 03079-2194

    • Super regional malls
    • 14,400 SF
    • 2.08 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US58-0068313
    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

    • Chibu Chikere / Insurance Agency
    • HealthMarkets / Insurance Agency
    • Douglas Carlson / Insurance Agency
    • HealthMarkets Insurance - Chris Martin / Insurance Agency
    • Route 28 Vapors / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice

    Property Details for 294 Broadway

    Year built
    2008
    Construction
    STEEL FRAME
    Lot size
    2.08 lot acres
    Property size
    14,400 SF
    Zone code
    CIB
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    SLEM M:63 B:6755 L:
    APU
    SLEMM63B6755L

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.2385
    Latitude
    42.7989
    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
    $36,537
    $871,300
    $1,283,000
    $2,154,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,045,000
      164,772 SF

      1 Mall Rd

      REGIONAL SHOPPING CENTER, MALL • 164,772 SF
      1 Mall Rd, Salem, NH 03079-4009
      View Details
    • Value Estimation
      $505,000
      21,914 SF

      130 Main St

      REGIONAL SHOPPING CENTER, MALL • 21,914 SF
      130 Main St, Salem, NH 03079-3176
      View Details
    • Value Estimation by Request
      15,752 SF

      303 Broadway

      REGIONAL SHOPPING CENTER, MALL • 15,752 SF
      303 Broadway, Salem, NH 03079-3301
      View Details
    • Value Estimation by Request
      12,000 SF

      450 Broadway

      REGIONAL SHOPPING CENTER, MALL • 12,000 SF
      450 Broadway, Salem, NH 03079-4325
      View Details
    • Value Estimation by Request
      9,726 SF

      100 Broadway

      REGIONAL SHOPPING CENTER, MALL • 9,726 SF
      100 Broadway, Salem, NH 03079-2162
      View Details
    • Value Estimation by Request
      12,000 SF

      131 Broadway

      REGIONAL SHOPPING CENTER, MALL • 12,000 SF
      131 Broadway, Salem, NH 03079-2127
      View Details

    Similar Nearby for Sale

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      Prime Retail Center on Route 28

      Multi-tenant retail center with value-add opportunity in Salem, NH.
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      10,374 SF

      Mixed-Use Commercial Building on Broadway

      10,374 SF mixed-use building on 1.24 acres.
      134 N Broadway, Salem, NH 03079
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    • $500,000
      6,000 SF

      6,000 SF Storage Facility

      Contracting company with storage facility for sale.
      115 Main St, Salem, NH 03079
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    • $399,999
      3,333 SF

      Prime Salem, NH Business Opportunity

      Established Franchise, High Traffic Location
      450 South Broadway, Salem, NH 03079
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    • 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

    Similar Nearby for Lease

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      Retail Space Near Tuscan Village

      Retail property for lease near major mixed-use development.
      125 S Broadway, Salem, NH 03079
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      Retail Space in Salem, NH

      Retail opportunity with high traffic and anchor tenants in Salem.
      92 Cluff Crossing Rd, Salem, NH 03079
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      650 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
      1,600 SF

      Retail Space with Modern Design

      Contemporary retail space with open layout and high visibility.
      240 N Broadway, Salem, NH 03079
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    • $625 /Mo
      110 SF

      Retail Space in Eastpointe Plaza

      2,880 sq ft salon/spa space for rent.
      130 Main St, Salem, NH 03079
      View Details
    • Contact for pricing

      Retail Space in Salem, NH

      Retail space available for rent in Salem, New Hampshire.
      92 Cluff Crossing Rd, Salem, NH 03079
      View Details
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    294 Broadway
    Salem, NH 03079-2194
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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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