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Financial
Distress signals
Property profile

331 Lafayette St Salem, MA 01970

FOR LEASE
Office buildings
Property ID
US38-0611418
25,164 SF 0.82 ac lot Built 2017
Last sale May 2016 · $1,500,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 10-yr Hold Held for 10 years. Free & Clear No active or open recorded mortgage detected.
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Market Trends Soon
331 Lafayette St, Salem, MA 01970 For Lease 1 / 16
$26 SF/Yr
331 Lafayette St, Salem, MA 01970
View Listing

Property summary

AI-generated overview

The property at 331 Lafayette St in Salem is a 2,794-square-foot restaurant building constructed in 2017, configured with both indoor and outdoor seating. The interior seating capacity is 49 seats and includes two handicap-accessible bathrooms. On-site parking is provided. The site is located near Marblehead and Swampscott and falls under B1 zoning, which supports its restaurant use; the existing interior layout provides a framework suited to multiple restaurant concepts.

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?
$83k
Tax billed · 2024
Assessed value$3.52M
Assessed land$815k
Assessed improvement$2.70M
Effective rate2.37%

Value estimate

· Oct 2026
$6.51M
$5.86M – $7.16M
Submarket $/SF estimate$6.72M
NOI build-up
Gross scheduled income$70k
Vacancy & credit loss−$2k
Operating expenses−$17k
NOI · 198,634.62% cap applied$52k

Realmo valuation models over county records and 9 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 comparables9

Cap rate analysis

How does the asset earn?
198,634.62%
$52k 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?
B1
The Intent of this To promote Business Neighborhood Uses
General categoryCOMMERCIAL
JurisdictionSALEM

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency11.0
Dry Cleaner10.3
Hair Salon9.8

Location

331 Lafayette St Salem, MA 01970
County assessor Recorded deeds · 5 transfers 9 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
87 Margin, Salem, MA 01970-3311 $600,000 Nov 2022 6,364 SF
256 Essex, Salem, MA 01970-3434 $200,000 Dec 2021 6,674 SF
120 Canal, Salem, MA 01970-4651 $400,000 Aug 2021 6,359 SF
60 Washington, Salem, MA 01970-3515 $1,249,883 Jan 2020 13,856 SF
287-291 Lafayette, Salem, MA 01970 $1,060,000 Jan 2019 20,474 SF
92 Jackson, Salem, MA 01970-3068 $720,000 Nov 2018 9,200 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

Comparable nearby

  • Value Estimation
    $1,170,000
    9,200 SF
    92 Jackson St
    OFFICE BUILDING
    92 Jackson St, Salem, MA 01970-3068
    View Details
  • Value Estimation
    $2,285,000
    9,009 SF
    17-21 Frnt St
    OFFICE BUILDING
    17-21 Frnt St, Salem, MA 01970
    View Details
  • Value Estimation
    $1,730,000
    6,815 SF
    133 Washington St
    OFFICE BUILDING
    133 Washington St, Salem, MA 01970-3573
    View Details
  • Value Estimation
    $640,000
    6,364 SF
    87 Margin St
    OFFICE BUILDING
    87 Margin St, Salem, MA 01970-3311
    View Details
  • Value Estimation
    $450,000
    6,359 SF
    120 Canal St
    OFFICE BUILDING
    120 Canal St, Salem, MA 01970-4651
    View Details
  • Value Estimation
    $885,000
    6,318 SF
    18-20 Frnt St
    OFFICE BUILDING
    18-20 Frnt St, Salem, MA 01970
    View Details

Similar Nearby for Sale

  • Contact for pricing
    16,000 SF
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  • New
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    2,363 SF
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    Third-floor suite with skylights, exposed brick, and a mezzanine layout near commuter rail and downtown amenities.
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  • New
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    Ground floor suite offers a private office layout with reception, conference room, kitchenette, two restrooms, and central HVAC.
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  • New
    $579,900
    1,787 SF
    Attorney Office Building
    Office building configured with multiple offices, reception, conference room, and central air, with off-street tandem parking.
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  • New
    Contact for pricing
    384,000 SF
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    Office space for sale in Salem, Massachusetts, available immediately.
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  • New
    $749,000
    1,428 SF
    Renovated Freestanding Office Building
    Owner-occupant office property with private rooms, reception, basement storage, and wheelchair-accessible entry.
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Similar Nearby for Lease

  • New
    Contact for pricing
    31,366 sqft
    Industrial Condominium with Office
    Industrial condo includes finished office space and warehouse clear height, with a loading dock and established column spacing.
    96 Swampscott Rd, Salem, MA 01970
    View Details
  • New
    $17 SF/Yr
    11,000 sqft
    Downtown Office Building with Elevator
    Flexible office suites with extensive window lines, handicap access, and on-site parking in downtown Salem.
    10 Federal St, Salem, MA 01970
    View Details
  • $24 SF/Yr
    2,250 sqft
    Renovated Mixed-Use Retail Suite
    Renovated at-grade retail suite with an open entry area, ample parking, and facade plus pylon signage.
    57 Loring Ave, Salem, MA 01970
    View Details
  • $18 SF/Yr
    9,831 sqft
    Highland Avenue Commercial Space Available
    Highly visible commercial space suitable for retail, medical, or office.
    207 Highland Ave #A, Salem, MA 01970
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  • Contact for pricing
    3,546 sqft
    Office Units with Water Views
    Partially furnished office space with exceptional water views, flexible sublease through April 30, 2027, and parking plus marina slips.
    35 Congress St, Salem, MA 01970
    View Details
  • New
    $4,000/Mo
    3,000 sqft
    Multi-Level Retail or Office Space
    Multi-level space with bathrooms on each floor, suitable for office or service uses with some build-out needed.
    167 Boston Street, Salem, MA 01970
    View Details
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