63 Grove St Salem, MA 01970

This exceptional 1.44-acre property at 63 Grove Street in Salem, MA, presents a compelling investment opportunity within a rapidly evolving redevelopment zone. Priced at $5,900,000, this substantial property boasts over 62,000 square feet of potential development space, offering significant upside for the discerning investor. The existing structure features a robust concrete block and steel construction, ensuring durability and longevity. The ground floor comprises an industrial warehouse equipped with heavy power, ideal for a variety of uses. Above, 5,500 square feet of renovated office space provides immediate functionality, complete with its own dedicated HVAC system. Convenient access is provided by a drive-in door and five loading dock doors, with one dock designed for efficient interior loading. The property's strategic location, just two miles from Salem's city center and the Peabody city line, places it within easy reach of major transportation routes and a growing population base. This is a rare chance to capitalize on the burgeoning potential of this emerging neighborhood. Prospective buyers are responsible for conducting their own due diligence.