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Listed by Doug Martin with Keller Williams Realty Metro-Londonderry 603-232-8282
4,488 sqft

$2,795,000

296 & 288 Highland Avenue, Salem MA, 01950

Price per sqft$622.77
Built in1950
Property size4,488 sqft
Property typeCommercial

Overview

Active

Listed May 12, 2026

Updated 15h ago

Exceptional investment and redevelopment opportunity with outstanding visibility on busy Highland Avenue. The property is approved for AUTO BODY USE, a highly sought after and difficult to obtain approval and is ideal for auto sales, service, repair, or collision operations.This unique offering includes two commercial lots with over 200 feet of frontage in a high-traffic retail corridor. The primary retail parcel features a 4,261 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager’s office, title office, parts and stock rooms, customer waiting area, break room, ADA-compliant restroom, and 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 for additional parking, expanded commercial use, or potential multifamily development of up to 5 residential units. Strategically located alongside major national retailers and traffic generators including Walmart, Target, The Home Depot, Planet Fitness, McDonald's, and Burger King. A signalized intersection stops traffic directly in front of the property, enhancing visibility, accessibility, and overall traffic flow, with more than 35,000 vehicles passing the site per day. Rare opportunity with multiple permitted uses and strong upside potential for investors, owner-users, or developers.

Additional information

MLS® ID
5088383

Interior Features

Basement
No

Exterior Features

Lot Size
12.25 Acres

Other Property Details

Taxes
$39,693
Tax Frequency
Annually
MLS provider logo

Listed by Doug Martin with Keller Williams Realty Metro-Londonderry 603-232-8282

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