Commercial for Sale: 296 & 288 Highland Avenue, Salem, MA 01950

$2,795,000
$2,795,000
296 & 288 Highland Avenue, Salem, MA 01950
$2,795,000
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Price:
$2,795,000
$200,000 - 07/23/2026

Type Commercial
Lot Size 12.25 acres
Year Built 1950
Taxes Paid $39,693

City Salem
County Essex

MLS 5088383
Status Active
DOM 155 days
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.

Lot & Building Features

Utilities Telephone at Site
Construction Steel Frame
Parking Description Parking Spaces 21+, On-Site, Paved
Sewer Public
Tax Year 2026
Taxes Paid $39,693
Water Public
Foundation Concrete
Lot Description Major Road Frontage, Near Shopping
Roof Flat, Membrane

Price History of 296 & 288 Highland Avenue, Salem, MA

Date Name Price Difference
07/23/2026 Price Adjustment $2,795,000 6.68%
06/10/2026 Price Adjustment $2,995,000 14.31%
05/12/2026 Listing Price $3,495,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

Map of 296 & 288 Highland Avenue, Salem, MA

Location Map Street View
Photo of Jessica Emerson
Direct: 603-303-7037
Office
PO Box 103
Epping, NH 03042
603-944-1456
Listed by Keller Williams Realty Metro-Londonderry, Doug Martin 603-232-8282
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1.4201584973166%
6.75%
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296 & 288 Highland Avenue (MLS #5088383) is a commercial listing located in Salem, MA. This commercial listing is on a lot of 533,610 sqft (or 12.25 acres) and is 76 years old. This property was listed on 05/12/2026 and has been priced for sale at $2,795,000.

Nearby zip codes are 01970.

PrimeMLS

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: Keller Williams Realty Metro-Londonderry

Copyright 2026 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display 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 10/14/2026