296 HIGHLAND AVE, SALEM, MA 01970-1841 For Lease

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.

This lease for the automotive facility is $15,000 per month modified gross. The residential home (288 Highland Ave) is also available for lease for a total of $20,000 per month.

The second parcel that is available for lease is a 2 bedroom / 2 Bathroom Ranch located at 288 Highland Ave.