296 Highland Ave

Retail

296 Highland Ave, Salem, MA 01970

9 photos
Retail For Sale
Asking
$2,995,000
Available
4,488 SF
Floor / Suite
1 · Floor 1
Listing Details
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
Property Highlights
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
Contact
DC
Douglas C MartinPrimary
KW Commercial, NH
Location