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    9 Brg St Danvers, MA 01923-3807

    • Investment properties
    • 2,936 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2023
    $950,000
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    7.9%
    Investment properties
    Location Intelligence
    Property ID
    US38-1820159
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cardtronics ATM / Atm

    Property Details for 9 Brg St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    2,936 SF
    Zone code
    R2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    DANV M:060 L:054 P:
    APU
    DANVM060L054P

    Description

    This exceptional mixed-use property at 9 Bridge Street in Danvers, Massachusetts, presents a compelling investment opportunity. The offering includes a four-unit building: three residential units and a thriving convenience store/deli occupying the fourth unit. The convenience store currently holds transferable beer, wine, and lottery licenses, adding significant value to the acquisition. Located just off Route 62, at the Danvers/Beverly line near the Ryal Side split, this property benefits from ample off-street parking. Its central location provides easy access to the train station and major highways, enhancing its appeal to both residents and businesses. The property's potential for growth is further amplified by Danvers' evolving zoning regulations, offering possibilities for future development or expansion. The asking price is $1,449,000. Prospective buyers are advised to conduct their own due diligence with the Town of Danvers to confirm intended use and compliance with local ordinances. This value-add property is ideal for owner-operators seeking a hands-on investment or investors looking for a strong return on investment in a desirable Massachusetts location. The property's existing income stream, combined with its development potential, makes it a truly unique opportunity in the Essex County market. The zip code is 01923.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $755,000
      ML approach
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $873,000
      Market price range: $329k - $873k
      AI Estimate
      $786,000
      Market price range: $225k - $787k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Danvers
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9094
    Latitude
    42.5572
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $0.00
    $311,100
    $607,100
    $918,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $235,000
      0.54 Acres

      1 Nichols St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.54 Acres
      1 Nichols St, Danvers, MA 01923-1554
      View Details
    • Value Estimation
      $230,000
      0.13 Acres

      12 Page St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.13 Acres
      12 Page St, Danvers, MA 01923-2825
      View Details
    • Value Estimation
      $250,000
      3,393 SF

      76 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,393 SF
      76 High St, Danvers, MA 01923-3158
      View Details
    • Value Estimation
      $220,000
      2,589 SF

      10 Page St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,589 SF
      10 Page St, Danvers, MA 01923-2825
      View Details
    • Value Estimation
      $230,000
      4,686 SF

      14 Water St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,686 SF
      14 Water St, Danvers, MA 01923-3793
      View Details
    • Value Estimation
      $240,000
      2,503 SF

      70 Holten St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,503 SF
      70 Holten St, Danvers, MA 01923-1975
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Retail space for lease in supermarket-anchored Danvers Plaza.
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      Danvers Retail Space For Rent

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      Endicott Square Retail Center

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      View Details
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    9 Brg St
    Danvers, MA 01923-3807
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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