314 Essex St - Residential Income FOR SALE


Salem, MA 01970- Federal Street
$1,895,000 USD
603-828-4204
314 Essex St, Salem, MA for Sale
$1,895,000 USD
Residential Income - FOR SALE
1/88
null | Request Cap Rate

314 Essex St
Salem, MA 01970
Federal Street


HIGHLIGHTS

  • Potential for an owner-occupied inn, guesthouse, boutique hospitality, event or adaptive-reuse concept, subject to City approvals
  • Prominent downtown Salem location directly beside the iconic Witch House
  • Extensively restored and renovated in 2016 with modern systems and preserved historic details
  • Rare c.1755 Georgian landmark with approximately 4,670 SF across three finished levels

OVERVIEW

Positioned directly beside Salem’s iconic Witch House, 314 Essex Street presents a rare opportunity to acquire a highly visible historic property in the heart of one of New England’s most active tourism destinations. The c.1755 Lindall-Gibbs-Osgood House offers approximately 4,670 square feet across three finished levels, with a flexible configuration that may lend itself to an owner-occupied inn, guesthouse, boutique hospitality, event or other adaptive-reuse concept, subject to City approvals and buyer due diligence. Extensively restored and renovated in 2016, the Georgian-style gambrel retains original floors, fireplaces and centuries-old architectural details while incorporating modern systems and amenities. The main level includes a gracious reception foyer, two formal parlors with wood-burning fireplaces, a large dining room and a commercial-scale chef’s kitchen featuring an original cooking hearth and steam wall oven. The second floor provides three spacious en-suite bedrooms arranged around a central landing. The third level includes an additional en-suite bedroom, kitchenette, den, gym, office and walk-in closet, offering flexibility for private owner accommodations, guest space or supporting hospitality uses. A fenced garden creates a private outdoor setting, complemented by two off-street parking spaces. Located in Salem’s historic McIntire District, the property is within close proximity to downtown restaurants, museums, shops, the waterfront and commuter rail. With its prominent location, four en-suite bedrooms, substantial common areas, commercial-scale kitchen and exceptional architectural character, 314 Essex Street offers a differentiated opportunity for an investor, hospitality operator or buyer seeking a landmark property with multiple potential paths forward. Furnishings may also be available by separate negotiation.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$406 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

-

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Residential Income

ADD'L SUBTYPES

Apartments, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1789

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,004 SF

ZONING

R2

APN/PARCEL ID

SALE-000026-000000-000523

ASK ABOUT THIS PROPERTY

Colby CoppageCompass New EnglandMore Info
603-828-4204

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Colby CoppageCompass New EnglandMore Info
603-828-4204

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