Three-Story Mixed-Use
For Sale
$799,000
7 Foster Street, Wakefield, MA 01880
Commercial Sale, Wakefield, MA
Property Size4,388 SF
Lot Size0.08 Acres
Price / SF$182.09
Days on Market91
Property Features for 7 Foster Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
comm
Zoning description
Legal Conforming
Directions
Please use GPS.
Standard status
Active
APN
817034
Size
4,388 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14703
Amenities
kitchen area
multiple bathrooms
abundant storage
attic space
full-height walk-out basement
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
Listed By:
John Veneziano
(781) 395-7676
Added: Jul 21
Changed: Oct 18
Last Checked: Oct 19 at 7:06AM
MLS# 73552647
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 7 Foster Street in downtown Wakefield, this 4,388-square-foot mixed-use property extends across three stories and is zoned comm. The building provides open space on each level, allowing for varied interior arrangements, along with kitchen areas, multiple bathrooms, and substantial storage. Additional space includes an attic and a full-height walk-out basement.
The property occupies a 0.0751-acre lot in Wakefield, Massachusetts. Its configuration supports a range of commercial applications, including professional, creative, educational, nonprofit, and wellness uses, subject to buyer due diligence. Possible additional parking is also noted.
The property occupies a 0.0751-acre lot in Wakefield, Massachusetts. Its configuration supports a range of commercial applications, including professional, creative, educational, nonprofit, and wellness uses, subject to buyer due diligence. Possible additional parking is also noted.
Key Highlights
- 4,388‑square‑foot, 3‑story mixed‑use building
- 0.0751‑acre lot at 7 Foster Street, Wakefield, MA 01880
- Open space available on each floor for flexible layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,402
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,040
$1.4M
Cap Rate 7%
$1,034,314
$1.0M
Cap Rate 9%
$804,467
$804.5K
Market Conditions
NOI Build-Up for 4,388 SF
Gross rent
$131.6K $30.00/SF
− Vacancy
−$15.8K −$3.60/SF
EGI
$115.8K $26.40/SF
− OpEx
−$43.4K −$9.90/SF
NOI
$72.4K $16.50/SF
Area
Middlesex County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,040
Cap Rate 7%
$1,034,314
Cap Rate 9%
$804,467
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,233 @ 7.0% cap · market cap 17.43%
Second Best
Mixed Use
$1.03M
$905.0K – $1.21M
NOI $72,402 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$2.60M
$2.27M – $3.03M
NOI $181,838 @ 7.0% cap · market cap 22.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible downtown commercial property with open floorplates, supplemental storage, and a walk-out basement.
Where is this mixed-use property located?
The property is located at 7 Foster Street Wakefield, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 4,388‑square‑foot, 3‑story mixed‑use building; 0.0751‑acre lot at 7 Foster Street, Wakefield, MA 01880; Open space available on each floor for flexible layouts
