296 & 288 Highland Ave Salem, MA ^$ 2,795,000

296 & 288 Highland Ave

^$ 2,795,000

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296 & 288 Highland Ave

Salem, MA, 01970

^$ 2,795,000

Bedrooms-- Baths-- Sq 5,483

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Property for Rent in Salem, MA

for $2,795,000. This 5,483 square foot property 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-obtainThe 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.This property is also being offered for lease. Automotive facility (296 Highland Ave) is $15,000 per month modified gross. Add the residential home in for $20,000 per month.

Rental Active

Price

^$ 2,795,000

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

Nearby

Trends

About Salem, MA

44,026 Population

9% Since 2002

^$64,141 Median Income

39.51 Median Age

23% Households with Children

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Trends Information provided by ATTOM Data Solutions.

Neighborhood & Schools

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Pricing History

Date	Price	Price Change	Description
7/23/2026	$2,795,000	-6.68%	Price Down
6/10/2026	$2,995,000	-14.31%	Price Down
5/12/2026	$3,495,000		Listed Price

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296 & 288 Highland Ave, Salem, MA, 01970 is a Property for Rent at $2,795,000 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

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% 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.

Data is updated as of 8/23/2026.

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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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296 & 288 Highland Ave

Property for Rent in Salem, MA

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