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. In addition to being for sale, the properties are for lease as a package. 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.
No similar listings found
Unfortunately, we don't have any similar listings at the moment. Please remove or change some of the selected filters.
Updated: 29th March, 2023 11:22 AM (UTC)
Attribution contact: 978-741-3696 | 617-633-6719
Listing Agent: David Hark
Listing Office: The Drumlin Group Inc.