Mixed-Use Retail and
For Sale
Contact for pricing
7 WALLIS ST, Beverly, MA 01915
Mixed-use building offers both retail space and residential units in Beverly, MA.
Property Size6,722 SF
Price / SF$280.42
Days on Market66
Property Features for 7 WALLIS ST
General Information
Standard status
Active
Size
6,722 SF
Class
B
Property subtype
Multifamily, Mixed Use
Zoning
cc
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$79,432
Building Details
Year Built
1860
Buildings
1
Stories
2
Listing Agency:
North Shore Realty Advisors
(617) 548-7737
Listed By:
Dan Pouladian · License #MA 423847
Source:
Crexi
Added: Jun 8
Changed: Aug 11
Last Checked: Aug 11 at 2:06PM
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
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 = 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
$102,217
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
5.42%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,442
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
