296 & 288 Highland Avenue
296 & 288 Highland Avenue photo 2
296 & 288 Highland Avenue photo 3
296 & 288 Highland Avenue photo 4
296 & 288 Highland Avenue photo 5
296 & 288 Highland Avenue photo 6
296 & 288 Highland Avenue photo 7
296 & 288 Highland Avenue photo 8
296 & 288 Highland Avenue photo 9
296 & 288 Highland Avenue photo 10
296 & 288 Highland Avenue photo 11
296 & 288 Highland Avenue photo 12
296 & 288 Highland Avenue photo 13
296 & 288 Highland Avenue photo 14
296 & 288 Highland Avenue photo 15
296 & 288 Highland Avenue photo 16
296 & 288 Highland Avenue photo 17
296 & 288 Highland Avenue photo 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 #
5088383
Property type
Commercial Sale
Subdivision
N/A
Status
Active
Days on market
92
On market date
N/A
Stories
N/A
Garage spaces
N/A
Lot size
12.25 acres
Loading map…

Nearby schools

Within 10 miles · public school directory data (NCES)

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

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

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.