296 & 288 Highland Ave, Salem MA 01970
Salem, MA 01970
$3,495,000
$2,795,000
Est. $17,641/month
Estimate assumptions
20% down, a 30-year loan at 6.5%, and $200/month estimated insurance.
Includes the supplied property-tax and HOA inputs; missing inputs contribute $0. HOA fees with an unspecified frequency are treated as monthly. PMI and closing costs are excluded.
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About this home
Exceptional investment / redevelopment opportunity with outstanding visibility on busy Highland Ave. The property is approved for AUTO BODY USE -a highly sought-after & difficult-to-obtainThe primary retail parcel features a 4,488 SF automotive facility equipped with 6 service bays, 4 lifts, showroom space, manager’s office, parts & stock rooms, customer waiting area, 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. Strategically located alongside major national retailers and traffic generators w/ more than 35,000 vehicles per day.This property is also being offered for lease. Automotive facility (296 Highland Ave) is $15,000 per month modified gross. Add the residential home in for $20,000 per month.
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Recently Sold Nearby
Property History
Market Insights
2
Price Changes
20%
Price Range
Property Timeline
Price Reduced
Jul 23, 2026
$2,795,000
$200,000
(-6.68%)
From $2,995,000 to $2,795,000 (-6.7%)
Price Reduced
Jun 10, 2026
$2,995,000
$500,000
(-14.31%)
From $3,495,000 to $2,995,000 (-14.3%)
Listed for Sale
May 12, 2026
$3,495,000
Original listing
Office: Keller Williams Realty - Londonderry
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 07/23/2026 | ↓ Price Reduced | $2,795,000 | $200,000 | - | From $2,995,000 to $2,795,000 (-6.7%) |
| 06/10/2026 | ↓ Price Reduced | $2,995,000 | $500,000 | - | From $3,495,000 to $2,995,000 (-14.3%) |
| 05/12/2026 | 🏠 Listed for Sale | $3,495,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $39,693 | — |
Financial Details
Annual Property Tax
$39,693
Tax Year 2026
Facts & Features
Home Facts
Type
Commercial Sale
Year Built
1950
Living Area
5,483 sq ft
Lot Size
12.25 acres
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
None
Architecture
None
Roof
None
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
None
Water
None
Sewer
None
Gas
None
Other
Public Water, Public Sewer
Financial
Annual Tax
$39,693
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Documents
None
County
Essex
Property Overview
Listing Type
For Sale
Year Built
1950
Living Area
5,483 sq ft
Floor Layout
Interactive room guide
Floor Layout
Display Options
Room Markers
OOffice (1)
KKitchen (1)
BRBedroom (5)
BABathroom (4)
DDining (1)
LLiving (2)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1950
Structure Type:
Exterior Materials:
Roof:
Foundation:
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Salem School District local
B-
School Safety
2024-25
3.6%
Above Average
2.3%
Suspensions
0.8%
In-School
1.3%
Emergency
1.9% below state avg
Elementary Schools
3 schools
C
Horace Mann Laboratory School
0.9 mi
|
#653 of 825
|
Score: 38.1
Improved 68 spots from last year
-20.1 below state avg
320 students
Diverse
Rising School
Diverse Student Body
Grades PK-05
B
Witchcraft Heights School
1.0 mi
|
#339 of 825
|
Score: 49.4
Improved 211 spots from last year
-8.8 below state avg
465 students
Diverse
Rising School
Diverse Student Body
Grades K-05
C
William A Welch Sr School
1.1 mi
|
#660 of 825
|
Score: 37.8
Improved 130 spots from last year
-20.4 below state avg
400 students
Diverse
Rising School
Grades K-05
Middle Schools
3 schools
B-
Collins Middle School
1.4 mi
|
#203 of 352
|
Score: 40.3
Improved 76 spots from last year
-17.9 below state avg
753 students
Diverse
Rising School
Diverse Student Body
Grades 06-08
C+
J. Henry Higgins Middle School
1.8 mi
|
#235 of 352
|
Score: 37.4
Improved 10 spots from last year
-20.8 below state avg
1,271 students
Diverse
Grades 06-08
C+
Pickering Middle School
2.0 mi
|
#229 of 352
|
Score: 38.5
Improved 78 spots from last year
-19.7 below state avg
539 students
Diverse
Rising School
Grades 06-08
High Schools
3 schools
B+
Salem High School
0.8 mi
|
#124 of 346
|
Score: 58.3
Dropped 4 spots from last year
+0.1 above state avg
960 students
Diverse
18 sports
• 1,080 athletes
Early College Program
Career Tech Programs
College Ready Curriculum
Strong Athletics
Grades 09-12
A-
Swampscott High School
1.6 mi
|
#101 of 346
|
Score: 60.3
Dropped 69 spots from last year
+2.1 above state avg
675 students
Moderate
18 sports
• 1,578 athletes
Strong AP Program
Career Tech Programs
College Ready Curriculum
Strong Athletics
Grades 09-12
D
Lynn English High School
2.0 mi
|
#315 of 346
|
Score: 35.5
Improved 40 spots from last year
-22.7 below state avg
1,727 students
Moderate
18 sports
• 1,425 athletes
Early College Program
Rising School
Career Tech Programs
Strong Athletics
Grades 09-12
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Over life of loan
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Including down payment
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Down: $0
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Monthly Payment Breakdown
Principal & Interest
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Property Tax
$3,308
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
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Rate Impact
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
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Neighborhood
296 & 288 Highland Ave, Salem MA 01970
Salem, MA 01970
Listing Information
Listing Office
Keller Williams Realty - Londonderry
Office Phone
603-965-2992
Agent MLS ID
CN238282
Office MLS ID
AC2360
Listing Data Updated
Jul 27, 2026 3:05 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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