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Property profile & analytics
OFF-MARKET Estimated value $625,000
Commercial real estate

71 Lafayette St C4 Salem, MA 01970-7508

2,163 SF Built 2004
Entity Owned 5-yr Hold Free & Clear
Property ID
US38-1299461
Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL CONDOMINUIM
Year built 2004
Construction STEEL FRAME
Total area 2,163 SF
Zoning code B5
APN SALE M:34 L:0485 S:860
UPID US38-1299461
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
  • Engine House Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$740k
CAP Approach CAP
$675k
Comparable Approach Comparable
$802k
Blend (final) Blend
$625k
Owner & transaction history
Lafayette Realty LLC · 5 yrs held
Lafayette Realty LLC
since 2021
Last sale
$525,000
1 recorded transaction
2021
$525,000
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 a district compliance application that includes the C-ROD district in the compliance model of the application. 8.9.4 Limitation on Uses Bel…

Zone name Central Development
General category UNKNOWN
Zone area 91.93 ac
Source zoning ordinance
Top alternative use upside
Office building $620,000 +3.7%
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