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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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296 & 288 Highland Ave , Salem, MA 01970
$2,795,000
Est. Payment: $6,211.11/mo
0 Bed
0 Bath
5483 Sqft
Status: Active | Days on site: 128
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AC2360 - CN238282
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House Description

Exceptional investment / redevelopment opportunity with outstanding visibility on busy Highland Ave. The property is approved for AUTO BODY USE -a highly sought-after & difficult-to-obtainThe primary retail parcel features a 4,488 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager’s office, parts & stock rooms, customer waiting area, security system. Also included are approximately 12 acres of residential land located behind the main commercial site, offering significant future development potential.The second parcel includes a small residential structure situated on commercially zoned land, presenting excellent redevelopment possibilities. Strategically located alongside major national retailers and traffic generators w/ more than 35,000 vehicles per day.This property is also being offered for lease. Automotive facility (296 Highland Ave) is $15,000 per month modified gross. Add the residential home in for $20,000 per month.

Highlights

Listed by Doug Martin , 603-770-5199 Keller Williams Realty - Londonderry , 603-965-2992.

Property Type

Commercial Sale

Lot/Acreage
12.25

Year Built

1950

County

Essex

Listing ID

73517059

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:

Exterior Features

Zoning:Legal Conforming
Principal Interest
$6,211
Taxes
$3,308

Home Price

$2,795,000

Loan Details

30 yrs
%

Down Payment

20%
$559,000
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Monthly Price:
$6,211.11

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,211.11 $3,307.79 $0.00 $9,518.90
Yearly $74,533.33 $39,693.43 $0.00 $114,226.76
Total $2,236,000.00 $1,190,802.90 $0.00 $3,426,802.90

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Salem, MA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.