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

    400 Highland Ave Salem, MA 01970-7003

    • Super regional malls
    • 45,208 SF
    • 3.95 lot acres
    OFF-MARKET
    Value Estimations
    $1,790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0093777
    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

    • H&R Block / Tax Preparation Service / Accountant
    • April's II Restaurant / Restaurant / Breakfast Restaurant
    • Sola Salon Studios / Eyelash Salon / Hair Salon
    • Hair Avenue / Beauty Salon
    • Hair_by_Yesenia at Sola Salon / Hair Salon

    Property Details for 400 Highland Ave

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    3.95 lot acres
    Property size
    45,208 SF
    Zone code
    BPD
    Property type
    Super regional malls
    APN
    SALE M:03 L:0005
    APU
    SALEM03L0005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,520,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,065,000
      Market price range: $1.34M - $2.85M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9336
    Latitude
    42.496
    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
    2024
    $178,798
    $4,026,300
    $3,521,100
    $7,547,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,575,000
      109,438 SF

      440 Highland Ave

      REGIONAL SHOPPING CENTER, MALL • 109,438 SF
      440 Highland Ave, Salem, MA 01970-1765
      View Details
    • Value Estimation
      $960,000
      117,032 SF

      2 India Sq Mall

      REGIONAL SHOPPING CENTER, MALL • 117,032 SF
      2 India Sq Mall, Salem, MA 01970-3700
      View Details
    • Value Estimation
      $1,055,000
      22,541 SF

      424 Essex St

      REGIONAL SHOPPING CENTER, MALL • 22,541 SF
      424 Essex St, Salem, MA 01970-3152
      View Details
    • Value Estimation
      $760,000
      15,619 SF

      600 Loring Ave

      REGIONAL SHOPPING CENTER, MALL • 15,619 SF
      600 Loring Ave, Salem, MA 01970-4264
      View Details
    • Value Estimation
      $1,515,000
      47,476 SF

      3 Paradise Rd, Unit 25

      REGIONAL SHOPPING CENTER, MALL • 47,476 SF
      3 Paradise Rd, Salem, MA 01970-4229
      View Details
    • Value Estimation by Request
      48,587 SF

      17 Paradise Ave

      Neighborhood centers • 48,587 SF
      17 Paradise Ave, Salem, MA 01970
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High-Visibility Commercial Space in Salem

      Commercial space in Salem near downtown and commuter rail.
      97 Bridge St, Salem, MA 01970
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      Established Polish Deli For Sale

      Profitable Polish deli established in 2001, available for sale.
      176 Essex St, Salem, MA 01970
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    • $390,000
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      Salem Train Station Storefront

      Prime Salem location, 1,106 sq ft, high traffic.
      280 Bridge St, Salem, MA 01970
      View Details
    • $395,000

      Downtown Salem Office Condo

      First floor office condo in downtown Salem for sale.
      20 Central St, Salem, MA 01970
      View Details
    • $1,295,000

      Renovated Salem Triplex Near Downtown

      Turn-key, renovated triplex near downtown Salem and the beach.
      51 Ocean Ave, Salem, MA 01970
      View Details
    • $2,500,000

      Spacious Mixed-Use Property in Salem

      Large mixed-use property with development potential in downtown Salem.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Vinnin Square

      Retail space with excellent parking and visibility in Salem.
      17 Paradise Ave, Salem, MA 01970
      View Details
    • Contact for pricing
      3,549 SF

      Retail Space in Vinnin Square

      Retail space with excellent parking and visibility in Salem.
      3-21 Paradise Rd, Salem, MA 01970
      View Details
    • $30 SF/Yr
      2,890 SF

      Salem Airport Retail Space

      Prime Salem location, 2890 sq ft, new construction.
      38 Norman St, Salem, MA 01970
      View Details
    • $27 SF/Yr
      1,106 SF

      Salem Train Station Storefront

      Freestanding Commercial Space, High Traffic
      280 Bridge St, Salem, MA 01970
      View Details
    • Contact for pricing

      Retail Space on Route 107

      Retail space available now at a busy intersection.
      Salem, MA 01970
      View Details
    • $2,200 /Mo

      Luxury Salon Space in Salem

      Fully furnished salon space with photography set available for rent.
      107 North St, Salem, MA 01970
      View Details

    Property Visit Statistics

    • Visits by month
      11.8k
    • Visitors by month
      10.8k
    • Avg Time on site
      22 min
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    400 Highland Ave
    Salem, MA 01970-7003
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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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