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

Salem, MA, 01970
$ 3,495,000
Bedrooms-- Baths-- Sq 5,483

Monthly Estimate*

$ 21,519

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Commercial Property for sale in Salem, MA

for $3,495,000. This 5,483 square foot building was built in 1950 on a lot size of 12.25.

Exceptional investment / redevelopment opportunity with outstanding visibility on busy Highland Ave. The property is approved for AUTO BODY USE -a highly sought-after & difficult-to-obtain approval & is ideal for auto sales, service, repair, or collision operations.This unique offering includes 2 commercial lots with over 200 ft 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, parts & stock rooms, customer waiting area, 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.Strategically located alongside major national retailers and traffic generators w/ more than 35,000 vehicles per day.

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Commercial Active

Price

$ 3,495,000

Property Type

Commercial

Taxes

$ 39,693

Style

Commercial

Lot Size

12.25

Year Built

1950

Town/City

Salem

County/Region

Essex

MLS | Web ID

73517059

List By
Doug Martin

Listing Agent

Keller Williams Realty - Londonderry

Broker

Affordability Calculator

$24,827
Per Month
87%
13%
0%
Monthly Principal & Interest
$21,519
Monthly Property Taxes
$3,308
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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Pricing History
DatePricePrice ChangeDescription
5/12/2026$3,495,000 Listed Price

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296 & 288 Highland Ave, Salem, MA, 01970 is a Commercial Property for sale at $3,495,000 with 5,483 sqft and a lot size of 12.25. 296 & 288 Highland Ave was built in 1950. The property's zip code is 01970 which is in Salem, MA