Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Retail space
47 Ocean Ave Salem, MA 01970-4626
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US38-1657419
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Construction
FRAME
Total area
3,910 SF
Lot
0.16 ac (7,139 SF)
Zoning code
R3
APN
SALE M:33 L:0406
UPID
US38-1657419
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
-
Andrew Michaels Salon and Spa Hair Salon Nail Salon
-
Keamy Cosmetic Centre Spa & Massage Center Alternative Medicine Practice
-
AMC Inc Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$990k
Comparable Approach
Comparable
$579k
Blend (final)
Blend
$765k
Owner & transaction history
Spalon LLC · 28 yrs held
Spalon LLC
since 1998
4 recorded transactions
Zoning & alternative use
R3 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+29.0%
Commercial (general)
$1.1M
+24.4%
Auto repair, garage
$935,000
+7.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
RETAIL STORES
$870,000
Current use
OFFICE BUILDING
$1,120,000
Change: +29% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,080,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$935,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$196 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,606
Tax year 2024
Assessed value
$827,600
Assessed 2024
Previous assessed
$827,600
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$388,400
Assessed improvement
$439,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
3,910 SF
Lot
0.16 ac (7,139 SF)
Zoning code
R3
APN
SALE M:33 L:0406
UPID
US38-1657419
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R3 · Salem, MA
Zoning R3 · permitted uses
R3 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$870,000
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$935,000
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Spalon LLC
Entity
Mailing address
47 OCEAN AVE, SALEM, MA 01970-4626
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2024
—
Spalon LLC
—
Deed
related
$200,000 · Marblehead Savings Bank
Apr 20, 2018
—
Spalon LLC
—
Deed
related
$20,000 · Marblehead Savings Bank
May 24, 2002
—
Spalon LLC
—
Deed Of Trust
related
$50,000 · East Boston Savings Bank
Jun 16, 1998
$225,000
Spalon LLC
South Branch RT
Grant Deed
$225,000 · Zwi Kohorn
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 47 Ocean Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
