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    Property profile & analytics

    5 Florence St Salem, MA 01970-4813

    • Commercial land
    • 0.13 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Apr 27, 2022
    $200,000
    Location Intelligence
    Property ID
    US38-0295934
    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

    • Commercial land

    Property Details for 5 Florence St

    Lot size
    0.13 lot acres
    Zone code
    R2
    Property type
    Commercial land
    APN
    SALE M:34 L:0102
    APU
    SALEM34L0102

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8946
    Latitude
    42.5159
    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
    $5,112
    $215,800
    $0.00
    $215,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.74 Acres

      346 Highland Ave

      VACANT COMMERCIAL LAND • 0.74 Acres
      346 Highland Ave, Salem, MA 01970-1744
      View Details
    • Value Estimation by Request
      0.84 Acres

      9 Franklin St

      VACANT COMMERCIAL LAND • 0.84 Acres
      9 Franklin St, Salem, MA 01970-2503
      View Details
    • Value Estimation by Request
      0.41 Acres

      378-380 Highland Ave

      VACANT COMMERCIAL LAND • 0.41 Acres
      378-380 Highland Ave, Salem, MA 01970
      View Details
    • Value Estimation by Request
      2.43 Acres

      329 Highland Ave

      VACANT COMMERCIAL LAND • 2.43 Acres
      329 Highland Ave, Salem, MA 01970-1738
      View Details
    • Value Estimation by Request
      0.13 Acres

      479 Highland Ave

      VACANT COMMERCIAL LAND • 0.13 Acres
      479 Highland Ave, Salem, MA 01970
      View Details
    • Value Estimation by Request
      0.29 Acres

      301 Highland Ave

      VACANT COMMERCIAL LAND • 0.29 Acres
      301 Highland Ave, Salem, MA 01970-1831
      View Details

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    • Contact for pricing

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      Spacious Mixed-Use Property in Salem

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      384,000 SF

      Salem Office Space Available

      Office space for sale in Salem, Massachusetts, available immediately.
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    Similar Nearby for Lease

    • $20 SF/Yr
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      Salem Industrial Flex Space

      86,000 SF Flex/R&D Space Available
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      Retail space with excellent parking and visibility in Salem.
      17 Paradise Ave, Salem, MA 01970
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      Two-car garage parking near Washington St and New Derby St.
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      Multi-Purpose Space in North Salem

      Flex/industrial/office space in active redevelopment area, on-site parking.
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    5 Florence St
    Salem, MA 01970-4813
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    Realmo Value Estimation

    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.

    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.

    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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