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Property profile & analytics
OFF-MARKET Estimated value $1,280,000
Parking lots & garages

38 Norman St Salem, MA 01970-3331

2,016 SF 0.32 ac lot Built 1945
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US38-0728059
Property summary
AI-generated overview

This exceptional Class A commercial property, located at 38 Norman Street in Salem, Massachusetts, offers 2,890 square feet of versatile space ideal for retail, restaurant, or special purpose uses. Situated on a 0.35-acre lot, this single-tenant building boasts new construction and is conveniently located near Salem's airport. The property features modern amenities including elevators, making it an attractive option for a variety of businesses. The building's prime location within Salem offers excellent visibility and accessibility, ensuring high foot traffic and potential for significant growth. This is a rare opportunity to secure a brand-new, high-quality commercial space in a thriving Massachusetts market. The property is anticipated to be available in 2025. The building's design and construction meet the highest standards, ensuring a functional and aesthetically pleasing space for your business. Its strategic location near the airport provides convenient access for both local clientele and those traveling through the region. With its ample square footage and versatile layout, this property presents a unique opportunity for businesses seeking a prominent presence in Salem. Inquire today to learn more about this exceptional commercial space. Zip code: 01970.

Property profile
Verified
Property type Parking lots & garages
Use group PARKING LOT
Year built 1945
Construction STEEL FRAME
Total area 2,016 SF
Lot 0.32 ac (13,991 SF)
Zoning code B3
APN SALE M:26 L:0464
UPID US38-0728059
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.35M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.28M
Owner & transaction history
38 Norman Qozb LLC · 3 yrs held
38 Norman Qozb LLC
since 2022
Last sale
$1.2M
7 recorded transactions
2022
$1.2M
2020
$150,000
2020
$1.3M
2018
$1.3M
2017
Price N/A
2016
$351,000
1969
Price N/A
Zoning & alternative use
B3 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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