296 & 288 Highland Ave, Salem MA 01970

Salem, MA 01970

$2.79M

5,483 sf · 12.25 ac · Built 1950

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The residence

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.

At a glance

Property type: Commercial Sale
Status: Active
Year built: 1950
Lot size: 12.25 acres
Living area: 5,483 sf
MLS#: 411158ded1401e9438de2e023432477c
Beds · Baths: 0 · 0

Location

Salem, MA.

Salem, Massachusetts, is a market our advisors follow closely — its streets, housing stock and setting each shape what a residence here is worth and how it lives day to day. We are glad to walk you through the locale in detail, and how this particular address sits within it.

Estimated Monthly Payment+

$14K/mo

Approximate · principal & interest only

Down payment · 25%Interest rate · 6.75%Term · 30 years

Display Currency

$2.79M

Indicative conversion — settlement always in USD.

Private Showing

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Listing courtesy of Keller Williams Realty - Londonderry · MLSPIN

MLS Property Information Network.The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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 set forth herein.

Listings updated Oct 16, 2026

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