MLS® ID: 72476553

266 Canal St

Salem, Massachusetts, 01970

$4,950,000 Contingent
  • 30928 SQFT
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.
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Listing courtesy of The Drumlin Group Inc.

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    01970
  • Office name
    The Drumlin Group Inc.
  • SQFT
    30928
  • Bedrooms
    0
  • Property type
    Commercial/Industrial
  • Zoning type
    B2
  • Year built
    1930
  • Tax year
    2019
  • Agent name
    David Hark
  • Tax amount
    $ 47702.0
  • Purchase Type
    Active
  • Price Range
    $2m+
  • Square Feet Range
    7000+ sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    8463
  • Agent ID
    454002138

Location

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