380 Main Street, Salem, NH, 03079 | $3,000,000

Attention Developers! Adjusted Price. Property bein sold "As Is" Preconstruction/Renovation Project, 55 Units, 55+, 3 Existing Buildings. Beautifully landscaped 5-acre property, designed specifically for individuals 55 and over. This development includes three distinct buildings: Proposed project for: Approvals in disclosures. Building(1) 32 condominiums, needs approval. Building (2) 8 condominiums with full clubhouse, needs approval Building (3) 15 condominiums, approved. Total Units: 55 carefully thought out condos and a mix of 1 and 2 bedroom units with a few studios. Building 1 is gutted and ready for construction. Building 2 has not been touched and Building 3 is rough framed inside. Located on a tranquil corner. There is an approval for 24 units in Building 3. Located just 3 miles from the Tuscan Village in Salem, NH. This preconstruction development design had thoughtfully planned amenities that foster community. A gate at the entrance to create a gated community Balcony's on all buildings. Covered parking for 16 cars, up to 242 parking spaces. A gathering space complete with a kitchen, walk-out patio equipped with fire pits. A 15-seat theater/tv room w/ stadium seating for movie nights 3 dedicated offices and a conference room for those needing professional spaces.

Features

  • Property Type: Land
  • Units: 3
  • Zoning: B2
  • Est. Taxes: $26,016
  • MLS#: 5017617
  • Website: https://www.raveis.com
    /prop/5017617/380mainstreet_salem_nh?source=qrflyer
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Listing courtesy of BHHS Verani Bradford   Phone: 978-372-9171
Listing Agent: Meredith Gavin

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380 Main Street, Salem, NH, 03079

$3,000,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,400,000 $2,400,000 $2,400,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.625% 6.500% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.955% 6.612% 6.182%
Monthly Tax Payment $2,168 $2,168 $2,168
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $13,816 $15,170 $20,253
Total Monthly Payment $16,109 $17,463 $22,546

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.