Mixed-Use Building with Residential
7 Main St Essex, MA 01929
7 Main St, Essex, MA, 01929
$785,000
Pending
For Sale
$785,000
Pending
MULTI_FAMILY - Essex, MA
Property Size2,376 SF
Lot Size0.30 Acres
Days on Market48
Property Features for 7 Main St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C/Mixed
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
- Parking
- 6
- Fireplace
- 1
- Standard status
- Pending
- APN
- 1887685
- Size
- 2,376 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Year
- 2026
Building Details
- Year built
- 1836
- Floors in Building
- 2
- Number of units
- 2
Listing agency
Keller Williams Realty Evolution
(978) 927-8700
Listed by
Keller Williams Realty Evolution
Added: Jun 5 Updated: Jun 25 at 11:34AM Checked: Jul 22 at 2:06AM
MLS# 73530991
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.
Investment Insights
Based on property information with market context.
This mixed-use property was previously used for retail and office on the first floor, with residential use on the second floor. The first-floor layout includes a restroom/half bath, an oversized kitchen, two generous office spaces, and one smaller office/work space, making it well-suited for professional services or a storefront setup. The second-floor unit offers 1 to 2 bedrooms plus office space, a living room, a kitchen, a full bath, and a washer/dryer area.
Located at 7 Main St in Essex, MA 01929, the property is offered for sale under C/Mixed zoning. The building has an architectural shingle roof estimated to be approximately 4 years old, and the gas boiler and associated components were installed in December 2023. The listing also notes recent by-law changes and available sewer capacity, which may support a multiple-unit condominium development concept.
For tenants, the configuration allows an owner-operator or professional business to occupy the first floor while benefiting from an income stream from the residential unit above. Buyers and developers may also view the property as a live-work or income-producing asset, with the noted sewer capacity offering a potential pathway to reconfiguration under the current by-law framework.
Located at 7 Main St in Essex, MA 01929, the property is offered for sale under C/Mixed zoning. The building has an architectural shingle roof estimated to be approximately 4 years old, and the gas boiler and associated components were installed in December 2023. The listing also notes recent by-law changes and available sewer capacity, which may support a multiple-unit condominium development concept.
For tenants, the configuration allows an owner-operator or professional business to occupy the first floor while benefiting from an income stream from the residential unit above. Buyers and developers may also view the property as a live-work or income-producing asset, with the noted sewer capacity offering a potential pathway to reconfiguration under the current by-law framework.
Key Highlights
- Mixed‑use property: retail/office on the 1st floor with residential use on the 2nd floor
- 1st floor has restroom/1/2 bath, oversized kitchen, and two generous office spaces plus a small office/work space
- 2nd floor residential unit includes 1–2 bedrooms, office space, living room, kitchen, full bath, and washer/dryer area
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 |
2,376 SF · lease $45.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$946.1K
$827.8K – $1.10M
NOI $66,226 @ 7.0% cap · market cap 8.44%
Second Best
Mixed Use
$687.3K
$601.4K – $801.9K
NOI $48,114 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,461 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sea Meadow Gifts ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - First-floor retail or office space with a second-floor 1–2 bedroom residence and updated boiler.
Where is this mixed-use property located?
The property is located at 7 Main St Essex, MA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Mixed‑use property: retail/office on the 1st floor with residential use on the 2nd floor; 1st floor has restroom/1/2 bath, oversized kitchen, and two generous office spaces plus a small office/work space; 2nd floor residential unit includes 1–2 bedrooms, office space, living room, kitchen, full bath, and washer/dryer area
