Commercial Sale at 296 & 288 Highland Avenue, Salem
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 2 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 3 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 4 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 5 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 6 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 7 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 8 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 9 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 10 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 11 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 12 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 13 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 14 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 15 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 16 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 17 of 18
Commercial Sale at 296 & 288 Highland Avenue, Salem, photo 18 of 18
18 photos

$2,795,000

296 & 288 Highland Avenue
Salem, MA 01950
Listed by Doug Martin · Keller Williams Realty Metro-Londonderry
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1950

About this home

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 4,261 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.

Property details

MLS
Prime MLS
MLS #
5088383
Property type
Commercial Sale
Subdivision
N/A
Status
Active
Days on market
92
On market date
N/A
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
12.25 acres
Loading map…

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Horace Mann Laboratory
0.91 mi away · Grades -1-5
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
293
Student:teacher ratio
10.9:1
District
Salem
Middle
Collins Middle
1.34 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
633
Student:teacher ratio
11.1:1
District
Salem
High
Salem High
0.8 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
803
Student:teacher ratio
8.2:1
District
Salem

Walkability

Blended score for Salem's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

67
Walkable
out of 100
EPA National Walkability Index
8.8 / 20 -- Below average walkable
Google Places amenity density
100 / 100
Restaurants & cafes14
Grocery stores4
Parks7
Schools5
Transit stops20
Pharmacies2

Market position

How this listing compares to current activity in Salem, from live MLS data.

On the market 92 days -- 14 fewer days than Salem's current average of 106 days.
For reference, the median list price across 399 active listings in Salem right now is $439,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

$
%
%
Adjust tax / insurance estimates
% / yr
$
/mo
Est. monthly payment
$16,982/mo
$559,000 down
$2,236,000 loan
Principal & interest$14,503
Property tax (est.)$2,329
Home insurance (est.)$150

Similar homes you might like

Prime MLS logo

Copyright 2026 PrimeMLS. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 07/23/26.