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71 Washington St 2,800 SF of Retail Space Available in Salem, MA 01970
HIGHLIGHTS
- Consistent heavy daily foot traffic.
- Municipal surface lots and parking garage nearby.
- Near Essex County Courts .
- Corner space offering superb natural light.
- Strong visibility and exposure.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,800 SF | Negotiable | $39.55 CAD/SF/YR $3.30 CAD/SF/MO $110,732 CAD/YR $9,228 CAD/MO | Triple Net (NNN) |
1st Floor
Outstanding opportunity to lease highly visible first floor commercial space and basement in the heart of Salem. Suitable for numerous retail, restaurant, and specialty uses. The space is currently occupied by a bank branch. The Landlord will perform partial demolition and deliver the premises in "warm vanilla box" condition. Contains private restrooms, kitchenette, and break room. Deal structure is Triple Net.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Bank
- Space is in Excellent Condition
- Central Air and Heating
- Private Restrooms
- Wi-Fi Connectivity
- Security System
- Corner Space
- Secure Storage
- Recessed Lighting
- After Hours HVAC Available
- Basement
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 2,800 SF | Gross Leasable Area | 9,590 SF |
| Property Type | Retail | Year Built | 1800 |
| Property Subtype | Bank |
| Total Space Available | 2,800 SF |
| Property Type | Retail |
| Property Subtype | Bank |
| Gross Leasable Area | 9,590 SF |
| Year Built | 1800 |
ABOUT THE PROPERTY
Strong corner location in Downtown Salem at Washington and Church Streets, in close proximity to City Hall, County Courts, Commuter Rail Station, buses, the Peabody Essex Museum, historic sites/landmarks, area attractions, restaurants, and lodging. Equidistant to Salem State University and Salem Hospital
NEARBY MAJOR RETAILERS
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71 Washington St
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