This Property is No Longer Available
385-387 Salem St, Malden, MA 02148
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$1,000,000
*Sale Price
Type: Mixed Use
Lease Type N/A
6055 Bldg. SQFT
4 Restroom
Parking: N/A

Property Description

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.

Property Details tap to expand

Property Information

  • Type: Mixed Use
  • Location: Legal Non-Conforming
  • MLS ID#: 73374216

Financial

  • Gross Annual Expenses: 24282
  • Gross Annual Income: 43200
  • Net Operating Income: 18918

Building Information

  • Total SQFT: 6055
  • Total Restrooms: 4

Construction & Utilities

  • Utilities: Natural Gas, Public Sewer, Public Water

Property History tap to expand

Date Event Price Price/Sq Ft Source
08/21/2025Killed$1,350,000$223MLSPIN
08/21/2025Killed$1,350,000$223MLSPIN
08/18/2025Sold$1,000,000$165MLSPIN
08/18/2025Sold$1,000,000$165MLSPIN
06/21/2025Under Agreement$1,350,000$223MLSPIN
06/21/2025Under Agreement$1,350,000$223MLSPIN
06/07/2025Contingent$1,350,000$223MLSPIN
06/07/2025Contingent$1,350,000$223MLSPIN
05/18/2025Active$1,350,000$223MLSPIN
05/17/2025Active$1,350,000$223MLSPIN
05/14/2025New$1,350,000$223MLSPIN
05/13/2025New$1,350,000$223MLSPIN

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Seller's Representative: Tanyeli Ballinger, Leading Edge Real Estate
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-08-18 13:34:00

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