Salem, MA Commercial Real Estate for Sale and Lease

For timely, accurate information regarding commercial real estate in Salem, MA, connect with Boston City Properties. Sign up using the form on this page for free, immediate access to our searchable MA real estate database. When you're ready to look at properties, let us know, and we will put you in touch with skilled real estate agents in the area.

Click Here to View Today's

Commercial Property List

What to Expect

With a population of around 41,300, this Essex County city is large enough to offer a fairly eclectic array of commercial properties. At any given time, there is typically plenty of office, retail and industrial space for sale or lease around the area. If you are looking for businesses for sale or need commercial investment properties, you can track them down using our search feature.

Find Commercial Space in Salem, MA

Select this town when using our search feature, and then specify your preferences for criteria like price and square footage. You can then read the resulting listings to zero in on properties that suit your budget, goals and needs.

Sign Up and Start Searching

You're just seconds away from accessing tons of information about Salem, MA, commercial real estate. Simply complete the quick and easy form here to get started. Later, when you have narrowed things down, contact us to be referred to skilled local real estate experts who can take you to see properties and more.

With 8.1 square miles of land and 10 square miles of water within the city limits, this town of 41,340 has a fairly high urban density. This density, in combination with the fact that it is only 15 miles from Boston and boasts an internationally famous historical legacy, makes it one of the hottest cities for commercial development in Essex County, Massachusetts. Approximately one million tourists visit the city per year, generating upwards of $100 million in revenue.

Primary neighborhoods include Witchcraft Heights, North and South Salem, the Downtown Salem District, the McIntire Historic District, and Salem Neck. In terms of green space and recreation, the city is located on the Massachusetts Bay, and therefore has a great deal of marine-related activities taking place in the adjacent harbor and along the Danvers River. The Salem Woods, Mack Park, Gallows Hill Park, McGrath Park, the Daniel Terrace Conservation Area, and the Forest River Conservation Area function as the area’s publicly accessible green spaces. Historic cemeteries also provide both green space and yet another tourist attraction.

The area is easy to access by automobile via Route 1A, Route 107, and Route 114. The MBTA Commuter Rail Line has a stop in town via the Newburyport/Rockport line. For those who prefer to travel by bus, the MBTA bus service transports passengers into the city. During the spring and summer months, a ferry transports passengers from Boston to this town. The city has also placed an emphasis on ecologically beneficial means of transport; both a public bicycling program and municipally provided electric car charging spaces can be found within the town.

Because of the recent spate of redevelopment, numerous commercial properties within city limits have become available for lease or purchase. The property at 100 Boston Street offers 0.39 acres of commercially zoned land in the heart of the city. Currently occupied by a retail building, the property has been earmarked for a potential new development that is roughly 16,700 square feet in size. The property is located near other new projects, including new apartment buildings and mixed use projects. Located only 1 mile from the MBTA Commuter Rail Line station, this property has a sale price of $749,999.

The plot of land at 5 Florence Street has a total acreage of 0.13 and is located in a dense urban section of the area, only a few blocks from the waterfront. Currently used for boat storage, the lot has a great deal of potential, especially with its proximity to other new development projects. The sale list price for this property is $225,000. Meanwhile, the large joint lots at 355 and 373 Highland Street have 1.61 and 3.53 acres respectively, for a total acreage of 5.14 acres. This substantial slice of land is open for development. Located off Route 107 near the Salem Woods, this property is perfect for a farsighted investor who wishes to take advantage of the future waves of growth the city will undoubtedly generate. The list price for these two lots is $2,900,000.

The commercially zoned lot at 342 Highland Avenue is located off Route 107 and offers numerous possibilities for a mixed-use configuration. Both retail and office uses are possible here. With 1.06 acres, the property has a sale list price of $675,000. Meanwhile, for those investors looking for a build-to-suit opportunity, the property at 45 Traders Way may be ideal. The 8.95 acre lot has been envisioned as a site for a proposed two-story building with retail on the ground floor and office spaces on the second floor. Alternatively, a 6,000 square foot retail structure has also been recommended for this site. The price for this property is $6,000,000. Finally, the parcel at 346 Highland Avenue offers 3.0 acres for commercial development. Located off Route 107, the land has a sale list price of $2,250,000.

Office Space Market

With a number of multi-story buildings close to downtown, the office space market in this town offers a variety of different configurations for sale or lease. The property at 39 Norman Street is a 50,000 square foot multi-story glass and concrete structure located near the center of downtown. With carpeted hallways, wood-framed doors with glass insets, a kitchen with new stainless steel appliances and enormous windows in the office suites, the building offers contemporary amenities in a modern structure. Built in 1958, the building has been refurbished inside and out and has onsite parking. The estimated rent for this space is $1.67 per square foot per month.

Located in the central business district, the structure at 60 Washington Street has a classic brick facade with elegant, circular windows on the upper floors, and rectangular storefront windows on the ground floor. Built in 1915, the building has a total rentable space of 6,978 square feet with numerous office units of different sizes on each floor. Located only 0.5 miles from the MBTA Commuter Rail station, this building offers an excellent opportunity for those seeking a prominent and easily accessible office space. The estimated rent for this property is $1.75 per square foot per month.

The multi-story 48,500 square foot structure at 118-128 Washington Street not only is located in the heart of the city, but has numerous luxurious shared amenities, including a gorgeous central lobby and easy access to the nearby law courts and urban amenities including restaurants and shops. Built in 1900, the building offers suites of varying sizes, from 1,980 square feet to 9,760 square feet. The estimated rent for this property is $2.50 a square foot per month. Just down the street at 193-211 Washington Street is a 20,000 square foot structure with 15 foot high ceilings and parking on the street in front of the building. The elegant brick two-story building offers large windows on both the ground and second floors, as well as canopy-covered entrances. The estimated rent for this property is $2.50 a square foot per month.

For those investors looking to purchase an office space in this town, the property at 5-15 Derby Street offers an ideal opportunity. With a total size of 1,393 square feet, the space has a rentable unit of 1,100 square feet. Formerly a dentist’s office, the space can be configured to suit a new owner’s needs. Located in the center of downtown, the two story building has an elegant brick portico and is within walking distance of numerous boutiques, professional offices, and civic amenities. The price for this unit is $299,999.

The property at 10 Federal Street offers an unusual live/work opportunity for an investor looking to purchase prominent real estate. With 165,000 square feet, this six story brick and masonry building was built in 1960 and WA once the home to New England Telephone. The property has onsite parking and large, configurable spaces on different floors, and is located in the heart of the city. Only 0.5 miles from the MBTA Commuter Rail line, the sale price for this building has not been publicly disclosed.

Retail Space Market

Several elegant historic structures, as well as new multi-story developments, make up the majority of the retail space market in this town. The property at 94 Lafayette Street offers enormous storefront retail on both of its floors, although the second floor can be configured into office space. With 13,931 square feet of leasable space, the brick building offers high ceilings, hardwood floors, and basement storage/operation space. Built in 1917, the property has been fully refurbished and is located within walking distance of numerous historic attractions as well as the waterfront, making it an ideal space for an investor eager to capitalize on visitor traffic. The estimated rent for this property is $0.67 per square foot per month.

The 42,468 square foot rectangular brick structure at 84 Highland Avenue has an onsite parking lot, a distinctive visual portico framed by enormous arches, and an excellent location in the city. Built in 1973, the five story building is zoned for both retail and residential, and has been refurbished. The estimated rent for this property is $0.92 to $1.08 per square foot per month.

For those seeking a more removed, quieter area to set up shop, the 9,000 square foot freestanding retail structure at 297 Highland Avenue may be ideal. With a central loading bay/garage, canopied entryway and concrete block exterior, this former hardware building comes with onsite parking and is located off the heavily trafficked Route 107. The estimated rent for this property is $1.83 per square foot per month. In this same vein, the freestanding property at 400 Highland Avenue boasts 45,000 square feet of retail space with enormous floor to ceiling glass display windows in front of a parking lot. Built in 1995, this retail complex has a fleet of excellent tenants as well as options for flexible floor plans depending on tenant needs. The estimated rent for this property is $1.25 a square foot per month.

Investors who wish to buy retail property should investigate the two properties 84 North Street and 1 South Mason Street. Built in 1950 and 1955 respectively, these two properties offer a combined total of 8,425 square feet of available retail space as well as an enviable location. Close to the waterfront and the MBTA Commuter Rail line stop, the lots have been zoned for both retail and residential development, and offer a rare opportunity for a wise investor. The sale list price for these properties is $795,000.

Commercial Development News

Since 2006, the city’s waterfront has undergone extensive redevelopment to revamp its infrastructure in the form of new a wharf and pier. Nearby large industrial properties, such as the Salem Harbor Power Station, have been closed and slated for redevelopment. These changes herald a likely boom for waterfront investment and development for savvy investors.

Click Here to View Today's

Commercial Property List