Commercial for Sale: 108-122 Lafayette, Salem, MA 01970

$6,500,000
$6,500,000
108-122 Lafayette, Salem, MA 01970
$6,500,000
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Price:
$6,500,000
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Type Commercial
Lot Size 0.18 acres
Year Built 1915
City Salem
County Essex
MLS 73264543
Status Active
DOM 54 days
Looking for cash flow? This mixed-use property is a rare gem, boasting not only six (6) commercial spaces but also a thriving fifty seven (57) room rooming house. The rooming house consists of thirty three (33) rooms with private baths and twenty four (24) with shared baths. Using 2023 income this property is being offered at a 9.7% cap rate with projected rents for 2024 bringing to a 10.8% cap rate. A 5% vacancy has already been factored into the gross revenue. The first floor office and laundromat are currently being run by the owners and are included in the sale. The Landlord is responsible for all utilities for the rooming house and heat/hw and water/sewer for the commercial spaces. **THIS PROPERTY IS TO BE SOLD WITH 286 WASHINGTON ST MLS# 73264544**. Seller is open to exploring a seller financing deal for the right buyer. See attached for income/expenses and a rent roll of the commercial space. Rooming house rent rolls change weekly but can be provided upon request.

Lot & Building Features

Tax Year 2022
Taxes Paid $48,417
Roof Rubber

Price History of 108-122 Lafayette

Date Name Price Difference
07/15/2024 Listing Price $6,500,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Photo of Maureen Carey
Direct: 603-944-7834
Office
560 High Street
Hampton, NH 03842
603-929-1100
Listed by Little & Co., REALTORS®, Francesca Little
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108-122 Lafayette (MLS #73264543) is a commercial listing located in Salem, MA. This commercial listing is on a lot of 7,762 sqft (or 0.18 acres) and is 109 years old. This property was listed on 07/15/2024 and has been priced for sale at $6,500,000.

Nearby zip codes are 01790, 01915, 01945, 01960 and 02132. This property neighbors other cities such as Beverly, Danvers, Marblehead, Peabody and Swampscott.

MLS PIN

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: Little & Co., REALTORS®

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.