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296 & 288 Highland Avenue, Salem, MA 01950

$2,795,000
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Active
MLS#5088383
STATUSActive PROPERTY TYPECommercial - Retail

Listing Courtesy of: Keller Williams Realty Metro-Londonderry
Agency Phone: 603-232-8282
Associate Name: Doug Martin
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Property Description

Exceptional investment and redevelopment opportunity with outstanding visibility on busy Highland Avenue. The property is approved for AUTO BODY USE, a highly sought after and difficult to obtain approval and is ideal for auto sales, service, repair, or collision operations.This unique offering includes two commercial lots with over 200 feet of frontage in a high-traffic retail corridor. The primary retail parcel features a 4,261 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager's office, title office, parts and stock rooms, customer waiting area, break room, ADA-compliant restroom, and 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 for additional parking, expanded commercial use, or potential multifamily development of up to 5 residential units. Strategically located alongside major national retailers and traffic generators including Walmart, Target, The Home Depot, Planet Fitness, McDonald's, and Burger King. A signalized intersection stops traffic directly in front of the property, enhancing visibility, accessibility, and overall traffic flow, with more than 35,000 vehicles passing the site per day. Rare opportunity with multiple permitted uses and strong upside potential for investors, owner-users, or developers.

296 & 288 Highland Avenue | MLS# 5088383

This commercial property located at 296 & 288 Highland Avenue, Salem, MA 01950 is currently listed for sale with an asking price of $2,795,000. Search Salem real estate on www.masiellogrouprealestate.com today.

Property Features

Property Type: Commercial - Retail
Lot Size: 12.25 Acres
Roof Type: Flat, Membrane
Taxes: $39,693
Year Built: 1950

Feature Descriptions

Days on Site: 129
Exterior: Steel Frame
Foundation: Concrete
Lot: Near Shopping, Major Road Frontage
Parking: On-Site, Parking Spaces 21+, Paved
Road Frontage: 206
Sale Inclusions: Land/Building
Sewer: Public
Water: Public
Zoning: Commercial/Residential

Listed By / Shown By

Listed By

Agency Name: Keller Williams Realty Metro-Londonderry
Agent Name: Doug Martin
Agency Phone: 603-232-8282

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