GET MORE INFORMATION
We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.
$ 1,000,000
$ 1,350,000 25.9%
Est. payment | /mo
6,055 SqFt
$ 1,000,000
$ 1,350,000 25.9%
Est. payment | /mo
6,055 SqFt
Key Details
Sold Price $1,000,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 6,055 sqft
Price per Sqft $165
MLS Listing ID 73374216
Year Built 1900
Annual Tax Amount $14,854
Tax Year 2024
Lot Size 2,613 Sqft
Property Description
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
Location
State MA
County Middlesex
Area Faulkner
Zoning NB
Exterior
Utilities Available Public Water, Public Sewer, Natural Gas Available
Roof Type Tar/Gravel
Listed by Leading Edge Real Estate
Bought with Joseph Akisik • CRG Commercial
Bought with Joseph Akisik • CRG Commercial