Mixed-Use Retail and
7 WALLIS ST, Beverly, MA 01915
For Sale
Contact for pricing
Mixed-use building offers both retail space and residential units in Beverly, MA.
Property Size6,722 SF
Price / SF$280.42
Days on Market158
Property Features for 7 WALLIS ST
General Information
Standard status
Size
Class
Property subtype
Zoning
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Listing Agency:
North Shore Realty Advisors
Listed By:
Dan Pouladian · License MA #423847
(617) 548-7737
Source:
Crexi
Added: Jun 8
Changed: Oct 30
Last Checked: Nov 12 at 5:35AM
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 North Shore Realty Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes 6,722 SF and is identified as a combination of storefront and apartment building space. It was last noted in the public remarks dated 04/22/2016, providing a dated reference point within the available information.
The building is located at 7 Wallis St in Beverly, Massachusetts. As a mixed-use asset, it is designed to support multiple income-producing functions within one structure, with retail space and residential components under the same ownership.
For tenants, the retail portion can be a fit for neighborhood-serving concepts that benefit from being integrated into a residential setting, while the apartment component supports an on-site residential customer base. For buyers and operators, the configuration offers a diversified property type compared with single-use assets, bringing together retail and residential uses in one offering. Prospective buyers should review the existing configuration and lease details with the listing broker to confirm unit mix, tenant status, and any operational considerations tied to the property’s specific layout and use.
The building is located at 7 Wallis St in Beverly, Massachusetts. As a mixed-use asset, it is designed to support multiple income-producing functions within one structure, with retail space and residential components under the same ownership.
For tenants, the retail portion can be a fit for neighborhood-serving concepts that benefit from being integrated into a residential setting, while the apartment component supports an on-site residential customer base. For buyers and operators, the configuration offers a diversified property type compared with single-use assets, bringing together retail and residential uses in one offering. Prospective buyers should review the existing configuration and lease details with the listing broker to confirm unit mix, tenant status, and any operational considerations tied to the property’s specific layout and use.
Key Highlights
- Mixed‑use building with retail space and residential units
- Total building size: 6,722 SF
- Year built: 1860
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,217
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,044,340
$2.0M
Cap Rate 7%
$1,460,243
$1.5M
Cap Rate 9%
$1,135,744
$1.1M
Market Conditions
NOI Build-Up for 6,722 SF
Gross rent
$193.6K $28.80/SF
− Vacancy
−$7.7K −$1.15/SF
EGI
$185.8K $27.65/SF
− OpEx
−$83.6K −$12.44/SF
NOI
$102.2K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,044,340
Cap Rate 7%
$1,460,243
Cap Rate 9%
$1,135,744
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,217 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,558 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
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Business Placement
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Essex County, MA
Properties on Market for Apartment buildings in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building offers both retail space and residential units in Beverly, MA.
Where is this apartment building located?
The property is located at 7 WALLIS ST Beverly, MA.
What is the asking price?
The asking price for this property is $1,885,000.
What are key features of this property?
This property features: Mixed‑use building with retail space and residential units; Total building size: 6,722 SF; Year built: 1860
