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Listed by Doug Martin • Keller Williams Realty Metro-Londonderry
$ 3,495,000
Est. payment /mo
Active
296 & 288 Highland AVE Salem, MA 01950
12.25 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5088383
Year Built 1950
Annual Tax Amount $39,693
Tax Year 2026
Lot Size 12.250 Acres
Acres 12.25
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.
Location
State MA
County Ma-essex
Area Ma-Essex
Zoning Commercial/Residential
Interior
Inclusions Land/Building
Exterior
Utilities Available Telephone at Site
Roof Type Flat,Membrane
Building
Sewer Public
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