Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
- Area:
- Faulkner
- Tax Year:
- 2024
- Status:
- Closed
- Zoning:
- NB
- Orig Price:
- $1,350,000
- Waterfront:
- No
- MlsStatus:
- Sold
- City:
- Malden
- State:
- MA
- County:
- Middlesex
- Postal Code:
- 02148
- Longitude:
- W72° 56' 43.6''
- Latitude:
- N42° 25' 51.6''
Commercial Sale
385-387 Salem St, Malden, Massachusetts
- Property Type :
- Commercial Sale
- Listing Type :
- For Sale
- Price :
- $1,350,000
- Square Footage :
- 6,055 Sqft
- Year Built :
- 1900
- Lot Area :
- 0.06 Acre
- Listing ID :
- 73374216
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com