296 Highland Ave
Retail296 Highland Ave, Salem, MA 01970
- Type
- Sale
- Status
- Active
- Asking Price
- $2,995,000
- List Date
- May 12, 2026
- Available
- May 1, 2026
- Days on Market
- 49
- Financing Available
- No
- Sale Investment
- YES
- Sale Total Expenses
- $33,832
- Vacant Date
- May 1, 2026
- Owner Occupied
- Yes
- Tax Amount
- $33,832
- Tax Year
- 2025
- Showing Instructions
- Call Broker
- Last Verified
- Jun 25, 2026
- Agent Ownership Interest
- No
296 and 288 Highland Ave
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 4,488 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.
Space Details
- Floor
- 1
- Suite
- Floor 1
- Available SF
- 4,488 SF
- Primary Use
- Retail
- Postal Address
- 296 and 288 Highland Ave
- Type
- Retail
- Subtype
- Auto dealer
- Size
- 4,488 SF
- Acreage
- 12.04 Acres
- Occupancy Type
- Single Tenant
- Year Built
- 1950
- Floors
- 1
- Zoning
- Commercial/Residential
- County
- Essex
- Submarket
- Sto,BO,3
- Type
- Sale
- Status
- Active
- Asking Price
- $2,995,000
- List Date
- May 12, 2026
- Available
- May 1, 2026
- Days on Market
- 49
- Financing Available
- No
- Sale Investment
- YES
- Sale Total Expenses
- $33,832
- Vacant Date
- May 1, 2026
- Owner Occupied
- Yes
- Tax Amount
- $33,832
- Tax Year
- 2025
- Showing Instructions
- Call Broker
- Last Verified
- Jun 25, 2026
- Agent Ownership Interest
- No
296 and 288 Highland Ave
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 4,488 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.
Space Details
- Floor
- 1
- Suite
- Floor 1
- Available SF
- 4,488 SF
- Primary Use
- Retail
- Postal Address
- 296 and 288 Highland Ave
- Type
- Retail
- Subtype
- Auto dealer
- Size
- 4,488 SF
- Acreage
- 12.04 Acres
- Occupancy Type
- Single Tenant
- Year Built
- 1950
- Floors
- 1
- Zoning
- Commercial/Residential
- County
- Essex
- Submarket
- Sto,BO,3