7 Main St, Essex, MA 01929
Two-story mixed-use building with retail/office space below and residential unit above, plus updated roof and boiler.
- Added:
- Jun 5, 2026
- Days on Market:
- 7
- Last Refresh:
- Jun 10 at 2:34 am
Property Features for 7 Main St
General Information
- Standard status
- Active
- Size
- 2,376 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1836
Listing agent Kevin Street (978) 375-6246
Listing office Keller Williams Realty Evolution (978) 375-6246
Listing date Jun 5, 2026
Source Lockandkeyre
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HighLights
- Two‑story mixed‑use building: retail/office on the 1st floor and residential use on the 2nd floor
- 1st floor features a restroom/1/2 bath, oversized kitchen, two generous office spaces, and one small office/work space
- 2nd floor residential unit includes 1 to 2 bedrooms, plus office space, living room, kitchen, full bath, and washer/dryer area
- Architectural shingle roof is approximately 4 years old
- Gas boiler and associated components were new in December 2023
- Sewer capacity available for a multiple unit condominium project under recent by‑law changes; offers first reviewed June 11
Overview
Located at 7 Main St in Essex, MA, the property combines commercial and residential space under one roof, creating a built-in income stream while allowing the first floor to support a wide range of professional or service-oriented businesses. The shingle roof is approximately four years old, and the gas boiler with associated components were newly installed in December 2023.
Recent by-law changes add a potential development angle for qualified buyers, with sewer capacity available for a multiple-unit condominium project. The offering includes development consideration alongside current operating flexibility, with the first review of offers scheduled for Thursday, June 11.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.3k | $45.60 |
| − Vacancy | −$20.0k | −$8.44 |
| EGI | $88.3k | $37.16 |
| − OpEx | −$22.1k | −$9.29 |
| NOI | $66.2k | $27.87 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Essex
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.7825253
- Latitude
- 42.6348461
