462 Highland Ave | Salem, MA 01970
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- LoopNet Team
462 Highland Ave
Salem, MA 01970
INSA Cannabis · Retail Property For Sale
Investment Highlights
- Corporately guaranteed NNN leased asset with 10 year term.
- Prime location next to major retailers such as Walmart, Home Depot, Target, and TJ Maxx.
- 285,000 people within a 5-mile radius with an average household income of $132,500.
- Year 1 NOI of $182,000 producing a 7.25% CAP rate.
- Recent renovations include additional square footage, new plumbing, electrical, and roof.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
3,910 SF
Building Class
C
Year Built/Renovated
1984/2022
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.57 AC
Zoning
B2 - Business
Parking
23 Spaces (5.88 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
PROPERTY TAXES
| Parcel Number | SALE-000003-000000-000002 | Improvements Assessment | $471,900 |
| Land Assessment | $793,100 | Total Assessment | $1,265,000 |
PROPERTY TAXES
Parcel Number
SALE-000003-000000-000002
Land Assessment
$793,100
Improvements Assessment
$471,900
Total Assessment
$1,265,000
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