Sold!
$4,168,700
30,928
Living Area
-
Property Description
This is an assemblage of three parcels of land on Canal Street, opposite Salem State University, in Salem, Ma. Two of the parcels have buildings with tenants who are "tenants-at will". There is considerable extra acreage here but we have included just 3.6 acres as being developable. The lots include 266, 288 and 282R Canal Street as shown on the assessors' plans. The combined site is ideal for a mixed use multi tenant retail and apartment development on the rail trail and near the proposed new South Salem MBTA rail stop. In addition to being for sale, the properties are for lease as a package. This will be an un-subordinated ground lease up to 99 years. Property owners will negotiate a "due diligence" period and "permitting period" with the potential developer. The asking ground rent is $275,000/year.
-
Highlights
- Acres: 12
- Property Class: Commercial Sale
- Status: Closed
- Parking Spots: 100
- Year Built: 1930
-
Additional Details
- Zoning: B2
- Zoning Description: Other (See Remarks)
-
Fees / Taxes
- Buyer Agent Compensation: 2%%
- Tax Year: 2019
- Facilitator Compensation: 2%%
- Taxes: $47,702
Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of The Drumlin Group Inc..
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
