10 Federal StSalem, MA 01970

Property Details for 10 Federal St

Year built

1956

Construction

STEEL FRAME

Lot size

1.21 AC

Property size (Sq ft)

140,944 SF

Zone code

B5

Property type

Office buildings

APN

SALE M:35 L:0192

APU

SALEM35L0192

Description

This exceptional commercial property at 10 Federal Street in the heart of Salem, MA, offers 16,000 square feet of versatile office space available for lease. Situated on a 1.21-acre lot, this building enjoys a highly desirable location, within easy walking distance of the commuter rail station and garage, Essex County Courts, City Hall, Peabody Essex Museum, Pickering Wharf, a wide array of restaurants and shops, hotels, and ample municipal parking. Its central location provides unparalleled access to Salem's rich historical, cultural, and seasonal attractions. The building itself is fully handicap accessible, featuring elevators conveniently located at both ends. On-site parking is provided, with the number of spaces allocated based on the leased area. Recent upgrades include new, modern common men's and women's restrooms on the third floor, and the building boasts extensive window lines providing abundant natural light. The flexible floor plans accommodate a variety of uses, including general office administration, medical practices, and executive suites. Leasing options include utilities, CAM charges, real estate taxes, building insurance, and a basic build-out allowance. Tenants are responsible for their own communications, internet, and office cleaning. Available office space ranges from 3,000 to 11,000 square feet, offering a range of options to suit diverse business needs. The asking price is $18 million.

• CAP approach

  CAP return

  Valuation

  6%

  $23,302,254

  6.5%

  $21,509,772

  7%

  $19,973,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,415,744

  Geo Method

  $18,415,744

• Alternative Use

  Use

  Valuation

  Residential

  $26,672,118

  Hospitality

  $24,431,516

  Educational

  $20,326,734

  Medical

  $21,025,802

  Retail

  $31,619,366

Location Insight

City

Salem

County

Essex

State

Massachusetts

Latitude

42.5236

Longitude

-70.8939

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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