Boston Realty Advisors is pleased to present 3 South Mason Street, a ± 24,000 square foot redevelopment site in Salem, Massachusetts. 3 South Mason is located less than one mile from downtown Salem and is directly on the edge of the North River Canal. 3 South Mason is in the North River Canal Corridor special overlay zoning district, which Salem has slated to be redeveloped from its current industrial uses to residential and more pedestrian-friendly commercial uses.
Salem is one of the most historically rich cities in Massachusetts; it is home to dozens of museums and other tourist attractions dedicated to the city’s history as a pilgrim settlement and the Salem Witch Trials, many of which are within walking distance of the property. The Rockport/Newbury Commuter Rail runs through the Salem MBTA station, which is 0.3 miles or a 10-minute walk from the property. The commuter rail provides residents with a 30-minute trip to North Station in Boston, MA.
There are currently several hundred units either under construction or permitted in the Corridor. The city envisions it as an “urban gateway to Salem.” An important factor in the long-term value upside from3 South Mason Street is the commitment of the city of Salem to encourage the development of the North River Canal Corridor. This development is a key component of Salem’s long-term plans. With its proximity to public transit and amenities and the exciting new spaces developers will create, 3 South Mason is a unique opportunity for investors to take park in a revitalization of an area that was settled almost 400 years ago.