17 Elm Street Unit Commercial, Danvers, MA 01923

Building Details

Year Built 2026 More

Tenancy Single More

Listing Agency: The Mega Group

Listed By: Brian DApice · License #9538300 Show Phone

Source: Jmulkerinrealty

Added: Oct 31 Changed: Nov 6 Last Checked: Nov 6 at 9:23AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Mega Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,444-square-foot commercial condominium occupies the ground floor of a 2026-built property that also contains three townhome-style residences. Offered in shell condition, the unit gives an owner the ability to plan its interior layout and finishes. The property is at 17 Elm Street in downtown Danvers, within the town’s Financial District. On-street parking and municipal lots serve the downtown area, including a lot close to the building. Routes 128 and 62 and Liberty Tree Mall are accessible from the site.

Key Highlights

• 1,444‑square‑foot ground‑floor commercial condominium
• Shell condition allows customization of the interior layout and finishes
• Part of a 2026‑built property with three townhome‑style residences

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,725

Cap Rate

2.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,500 $474.5K

Cap Rate 7%

$338,929 $338.9K

Cap Rate 9%

$263,611 $263.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,444 SF

Gross rent

$34.7K $24.00/SF

− Vacancy

−$762 −$0.53/SF

EGI

$33.9K $23.47/SF

− OpEx

−$10.2K −$7.04/SF

NOI

$23.7K $16.43/SF

Area

Essex County, MA

Vacancy

2.20%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,500

Cap Rate 7%

$338,929

Cap Rate 9%

$263,611

Alternative Uses

Best Use

Retail

$338.9K

$296.6K – $395.4K (±1% cap)

NOI $23,725 @ 7.0% cap · market cap 2.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$854.8K

$748.0K – $997.3K (±1% cap)

NOI $59,839 @ 7.0% cap · market cap 7.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Soul Fruit Market Food Market

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Tech Support Center Barber Shop Carpet & Flooring Store Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

831

Businesses Nearby

Explore this area Business Placement

Demographics for 01923, MA

27,987

Population

11,405

Households

2.5

Avg Household Size

46

Median Age

47%

College-Educated

95%

High-School Grad

13.2 sq mi

ZIP Area

2,120

Density / Sq Mi

$117,072

Median Household Income

$59,916

Median Earnings

$2,004

Median Rent

$611,200

Median Home Value

Market

Average Price Trend$/SF for Retail space in Essex County, MA

$196 Jul

$119 Aug

$158 Sep

$148 Oct

Properties on Market for Retail space in Essex County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Delivered in shell condition, the unit can be configured with a layout and finishes suited to its next commercial use.

Where is this retail space located?

The property is located at 17 Elm Street Unit Commercial Danvers, MA.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 1,444‑square‑foot ground‑floor commercial condominium; Shell condition allows customization of the interior layout and finishes; Part of a 2026‑built property with three townhome‑style residences