Description
Exceptional 6.7-acre development opportunity positioned along Salem’s rapidly growing East State Street corridor. With over 700 feet of prime frontage and outstanding visibility, this high-exposure site offers tremendous potential for senior housing, affordable or workforce housing, assisted living, mixed-use development, medical offices, retail, or other commercial ventures. Strategically located just minutes from Salem Regional Medical Center, major shopping destinations, restaurants, and established residential communities, this parcel sits in one of Salem’s most active growth corridors. The location offers convenient access for residents, patients, customers, and commuters alike, making it highly attractive for developers and investors seeking long-term value and community impact. A major advantage to this property is the potential 15-year CRA tax abatement available through the City of Salem, creating a significant incentive for developers pursuing residential, senior living, workforce housing, or mixed-use projects. The expansive frontage provides flexibility for multiple access points, phased development, and strong traffic exposure. With increasing demand for senior living, affordable housing, medical-related services, and commercial expansion in the area, this property presents a rare opportunity to secure a highly visible, strategically positioned development tract in a thriving community. Endless possibilities await visionary investors ready to bring their next project to life.
Description
Exceptional 6.7-acre development opportunity positioned along Salem’s rapidly growing East State Street corridor. With over 700 feet of prime frontage and outstanding visibility, this high-exposure site offers tremendous potential for senior housing, affordable or workforce housing, assisted living, mixed-use development, medical offices, retail, or other commercial ventures. Strategically located just minutes from Salem Regional Medical Center, major shopping destinations, restaurants, and established residential communities, this parcel sits in one of Salem’s most active growth corridors. The location offers convenient access for residents, patients, customers, and commuters alike, making it highly attractive for developers and investors seeking long-term value and community impact. A major advantage to this property is the potential 15-year CRA tax abatement available through the City of Salem, creating a significant incentive for developers pursuing residential, senior living, workforce housing, or mixed-use projects. The expansive frontage provides flexibility for multiple access points, phased development, and strong traffic exposure. With increasing demand for senior living, affordable housing, medical-related services, and commercial expansion in the area, this property presents a rare opportunity to secure a highly visible, strategically positioned development tract in a thriving community. Endless possibilities await visionary investors ready to bring their next project to life.