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REDUCED! Don't let this opportunity pass you by. The design work is completed to transform this local landmark into a trophy waterfront restaurant. For many years, this restaurant has been a single level, and plans are now complete to move the prep kitchen, restrooms, office, storage, employee space, and a large service window for the patio downstairs, leaving the upstairs as dining, open kitchen, private dining/ small functions and bar, with extensive outdoor seating on wraparound decks to enjoy the views. There is a tidal dock on the water that facilitates dockside pickup and adds additional ambiance. Design is compliant, no variances required! This sale includes a coveted full liquor license, there are currently no more available in Salem. Designs for the rooftop include an eco-friendly green roof with a vegetable & herb garden, it has the possibility to be a rooftop deck for patrons with additional ADA compliance. Design work has also been done to transform the large patio into an outdoor experience. This property is located directly on the Danvers River, as the Essex Bridge enters Salem. The prior use was as a restaurant and the DEP indicates that the existing building and continued restaurant use is exempt from state licensing. The building is currently vacant and the interior finish has been removed in anticipation of a full renovation. All information has been obtained from public information, owner, and other sources deeme
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 1/26/2026Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,000,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 617.281.4872
Kate.Rockett@raveis.com
NMLS Mortgage Loan Originator ID 1500191
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $800,000 | $800,000 | $800,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.000% | 5.750% | 5.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.048% | 5.858% | 5.681% |
| Monthly Tax Payment | $1,667 | $1,667 | $1,667 |
| H/O Insurance Payment | TBD | TBD | TBD |
| Initial Principal & Interest Pmt | $4,295 | $4,669 | $6,537 |
| Total Monthly Payment | $6,054 | $6,336 | $8,204 |
* 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.