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Office buildings
MA
Salem
01970
47 Federal St

Property profile

47 Federal St Salem, MA 01970

OFF-MARKET

Office buildings

Property ID

US38-1627671

2,434 SF 0.04 ac lot Built 1757

Individually Owned 17-yr Hold ~ Est. High Equity

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The property is an 1,787-square-foot gambrel-style office building located in Salem, Massachusetts, directly across from the courthouse and about one block from the train station and a parking garage. It has a lot area of 0.04 acres and provides off-street parking for approximately 2 to 4 vehicles in tandem. The interior is configured for professional office use and includes roughly 4 to 6 offices, a reception area, a conference room, and a law library, along with 2 half baths and two small kitchen areas. Central air conditioning is installed, and the building is positioned to provide convenient access to nearby banking and dining establishments.

Property type Office buildings

Use group OFFICE BUILDING

Year built 1757

Construction FRAME

Total area 2,434 SF

Lot 0.04 ac (1,951 SF)

Zoning code B5

APN SALE M:26 L:0417

UPID US38-1627671

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Law Firm
Law Firm
Law Firm

47 Federal St Salem, MA 01970-3436

Salem metro Census 204500 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

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AI Approach AI

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CAP Approach CAP

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Comparable Approach Comparable

$848k

Blend (final) Blend

$325k

since 2008

7 recorded transactions

2010

Price N/A

2008

Price N/A

2008

$325,000

2007

Price N/A

2003

Price N/A

2002

$230,000

Zoning description

Applicability to Central Business (B5) Zoning District: For projects in the Central Business (B5) District, this Section 8.9 shall be applicable upon approval by the Executive Office of Housing and Livable Communities of…

General category UNKNOWN

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
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Value Estimation
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Value Estimation
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Value Estimation
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204 Highland Ave

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Value Estimation
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193 Jefferson Ave

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193 Jefferson Ave, Salem, MA 01970-2958

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