Mixed-Use Property with Gas Water
For Sale
$2,750,000
46-48 Walnut St, Peabody, MA 01960
Established mixed-use property with GBD zoning and a gas water heater.
Property Size10,231 SF
Price / SF$268.79
Days on Market192
Property Features for 46-48 Walnut St
General Information
Standard status
Active
Size
10,231 SF
Property subtype
Residential Income
Zoning
GBD
Net Operating Income
$68,400
Taxes and HOA fees
Annual Taxes
$15,390
Amenities
Park
Gas Water Heater
Building Details
Building Size
10,231 SF
Year Built
1930
Stories
5
Listing Agency:
(617) 835-3400
Listed By:
Helena Araujo
(617) 835-3400
Source:
Evrealestate
Added: Feb 20
Changed: Aug 30
Last Checked: Aug 30 at 8:28PM
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 Helena Araujo
Investment Insights
Based on property information with market context.
Located at 46-48 Walnut St in Peabody, Massachusetts, this mixed-use property was constructed in 1930 and includes a gas water heater. The property size is 10,231 square feet, with GBD zoning supporting its documented mixed-use classification.
Access is provided from Lowell St to Central St to Walnut St. The property is situated in Essex County and carries a 01960 ZIP code.
Access is provided from Lowell St to Central St to Walnut St. The property is situated in Essex County and carries a 01960 ZIP code.
Key Highlights
- 10,231‑square‑foot mixed‑use property
- GBD zoning
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$207,178
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,143,560
$4.1M
Cap Rate 7%
$2,959,686
$3.0M
Cap Rate 9%
$2,301,978
$2.3M
Market Conditions
NOI Build-Up for 10,231 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$368.3K $36.00/SF
− Vacancy
−$36.8K −$3.60/SF
EGI
$331.5K $32.40/SF
− OpEx
−$124.3K −$12.15/SF
NOI
$207.2K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,143,560
Cap Rate 7%
$2,959,686
Cap Rate 9%
$2,301,978
Alternative Uses
Best Use
Mixed Use
$2.96M
$2.59M – $3.45M
NOI $207,178 @ 7.0% cap · market cap 7.53%
Second Best
Retail
$2.40M
$2.10M – $2.80M
NOI $168,099 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$6.06M
$5.30M – $7.07M
NOI $423,970 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,375
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Established mixed-use property with GBD zoning and a gas water heater.
Where is this mixed-use property located?
The property is located at 46-48 Walnut St Peabody, MA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10,231‑square‑foot mixed‑use property; GBD zoning; Built in 1930
