1. Massachusetts
  2. Malden
  3. 385-387 Salem St
$1,350,000

385-387 Salem St, Malden, MA 02148

  • 4 baths |
  • 6,055 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon2,614sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $223/sqft
  • Property List Date Icon Listed 2 months ago

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.

Listing Status:
Pending
Date Added:
May 14, 2025 at 05:00AM
Listing Office:
Leading Edge Real Estate : 978-289-5860
Listing Agent:
Tanyeli Ballinger : 617-470-2327
MLS ID:
73374216

This listing courtesy of Tanyeli Ballinger, Leading Edge Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Salemwood

529 Salem St, Malden, MA, 02148

Grades KG-8

0.22 miles away

S

Salemwood

529 Salem St, Malden, MA, 02148

Grades KG-8

0.22 miles away

M

Malden High School

77 Salem St, Malden, MA, 02148

Grades 9-12

0.57 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.