296 & 288 Highland Avenue Salem, MA $ 3,495,000
296 & 288 Highland Avenue
$ 3,495,000
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296 & 288 Highland Avenue

Salem, MA, 01950
$ 3,495,000
Bedrooms-- Baths-- Sq 4,488

Monthly Estimate*

$ 21,519

Listed by Doug Martin, Keller Williams Realty Metro-Londonderry, 603-232-8282, dougmartin@kw.com
296 & 288 Highland Avenue, Salem, MA 01950 - Image 1
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Commercial Property for sale in Salem, MA

for $3,495,000. This 4,488 square foot building was built in 1950 on a lot size of 12.25.

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.

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Commercial Active

Price

$ 3,495,000

Property Type

Commercial

Taxes

$ 0

Style

Retail

Lot Size

12.25

Year Built

1950

Town/City

Salem

County/Region

Essex

MLS | Web ID

5088383

Features
General
Road Frontage Yes
Sewer Public
Utilities Telephone at Site
Roof Flat Membrane
Zoning Commercial/Residential
Year Built 1950
Business Type Retail
Auction No
Tax Year 2026
Status Detail 0
Construction Materials Steel Frame
City Salem
DOM 7
Price Per Sq Ft Total AG 778.74
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Exterior
Lot Features Near Shopping Major Road Frontage
Lot Size Area 12.25
Water Source Public
Parking Features On-Site Parking Spaces 21+ Paved
Foundation Concrete
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Interior
Basement No
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* Excluded Features
List By
Doug Martin

Listing Agent

Keller Williams Realty Metro-Londonderry

Broker

(603) 232-8282

Phone

dougmartin@kw.com

Email

Affordability Calculator

$21,519
Per Month
100%
0%
0%
Monthly Principal & Interest
$21,519
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
451920 Elementary School
452237 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/12/2026$3,495,000 Listed Price

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296 & 288 Highland Avenue, Salem, MA, 01950 is a Commercial Property for sale at $3,495,000 with 4,488 sqft and a lot size of 12.25. 296 & 288 Highland Avenue was built in 1950. The property's zip code is 01950 which is in Salem, MA