266 Canal StreetSalem, MA 01970MLS Number 72476553

  • Price: $275,000
  • 50 Days on Market
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Federal 30-year interest rate: 4.07% last updated on May 16, 2019
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 3.04Acreage
  • 1930Year Built
  • 100Parking Spaces
  • CIProp Type

Driving Directions

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. 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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Windhill Realty
Windhill Realty
Office: 978.356.8922
16 Market Street
Ipswich, MA 01938

More Info

Parking

  • Parking Spaces100

Building

  • Year Built1930
  • No Buildings2
  • No Stories1
  • Entry OnlyNo
  • Assessed Value Bldg280900

Basic Information

  • StatusACT
  • MLS Number72476553
  • Prop TypeCI
  • Status Date2019-04-04T09:32:00
  • Date Listed04/04/2019
  • List Price$275,000
  • LeaseYes
  • Lease TypeGround Lease
  • Direction266, 282 and 282R Canal Street are located along the MBTA rail line near Salem State University.

Photos

  • Photo Date2019-04-05T10:03:00
  • Number of Photos3

Location

  • StreetCanal Street
  • TownSalem
  • StateMA
  • Zip01970
  • Zip Code 44540
  • CountyEssex

Property

  • Acreage3.04
  • Space AvailableFor Lease
  • SubletNo
  • Lot Size132422
  • Assessed Value Land538800
  • Main LoC95118

Other

  • Modification Date2019-04-08T03:05:00
  • Property TypeLand
  • Listing AlertNo
  • Year Built SourcePublic Record
  • DisclosureNo
  • Book10716
  • Listing AgreementExclusive right to Lease
  • ExchangeNo
  • Page430
  • View Count4

Salem, MA Demographics

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Salem, MA Real Estate Market Data

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Salem, MA Schools

School NameDistanceTypeGrades

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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