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    FOR SALE
    Auto shops

    296 Highland Ave Salem, MA 01970

    5,483 SF Built 1950
    Property ID
    US38-0007806
    296 Highland Ave, Salem, MA 01970 For Sale 1 / 28
    $2,995,000 5,483 SF
    296 Highland Ave, Salem, MA 01970
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    Property summary
    AI-generated overview

    Exceptional investment / redevelopment opportunity with outstanding visibility on busy Highland Ave. The property is approved for AUTO BODY USE -a highly sought-after & difficult-to-obtain approval & is ideal for auto sales, service, repair, or collision operations.This unique offering includes 2 commercial lots with over 200 ft of frontage in a high-traffic retail corridor.The primary retail parcel features a 4,488 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager’s office, parts & stock rooms, customer waiting area, security system. Also included are approximately 12 acres of residential land located behind the main commercial site, offering significant future development potential.The second parcel includes a small residential structure situated on commercially zoned land, presenting excellent redevelopment possibilities.Strategically located alongside major national retailers and traffic generators w/ more than 35,000 vehicles per day.

    Property profile
    Verified
    Property type Auto shops
    Year built 1950
    Total area 5,483 SF
    UPID US38-0007806
    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
    • CarFive Car Dealership
    • Clayton Company General Contractor
    2 occupants on record
    Value estimations
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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