296 Highland Ave - Auto Repair FOR SALE


Salem, MA 01970- South Salem
$3,495,000 USD
603-770-5199
296 Highland Ave, Salem, MA for Sale
$3,495,000 USD
Auto Repair - FOR SALE
1/21
null | Request Cap Rate

296 Highland Ave
Salem, MA 01970
South Salem


HIGHLIGHTS

  • Approved for Auto Body Use - 4,488 SF Building with 6 Bays, 4 Lifts, Showroom, Offices, and Customer Waiting Area
  • 200+ feet of Frontage on high traffic retail corridor with 25,000+ vehicles per day
  • 12+ acres of Residential Land Located Behind the Commercial Building for Future Development Potential
  • Second Parcel - 995 sf Residential Home situated on Commercial Zoned Land-Excellent Redevelopment Possibilities
  • Located alongside Major National Retailers: Walmart, Target, The Home Depot, Planet Fitness, McDonald's, Burger King...

OVERVIEW

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 4,488 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 25,000 vehicles passing the site per day. Rare opportunity with multiple permitted uses and strong upside potential for investors, owner-users, or developers.

FOR SALE DETAILS

PRICE

$3,495,000 USD

PRICE/SF

$779 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Approved for Auto Body Use

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Auto Dealership, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

12.07 AC

LAND SF

525,769 SF

ZONING

B2 / R1

APN/PARCEL ID

SALE-000008-000000-000029

ASK ABOUT THIS PROPERTY

Douglas MartinKW Commercial Real EstateMore Info
603-770-5199

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Douglas MartinKW Commercial Real EstateMore Info
603-770-5199

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.