FOR SALE

7 Bridge Street, Danvers MA

7 Bridge Street Danvers is situated just off Route 62 at the Ryal Side split and is a mixed-use property containing two (2) buildings with sixteen (16) off-street parking spaces. #7 Bridge is a three-story multi-family property containing four (4) apartments and #7.5 Bridge is a 3,442 +/- square foot commercial building which was the property owners place of business for over 20 years. This is a quintessential value-add investment opportunity or owner occupant situation with additional rental income in place. The property is zoned R2 (Residential) with a Finding to allow commercial uses in the 7.5 Bridge building that the town hall may approve. All five units have separate electric and natural gas, where applicable, and hot water is included in with all four apartments rent.

Unit 1A is a 1BR with FHW heat by gas currently earning $1,775 per month expiring November 2024.

Unit 1B is a STUDIO with FHW heat by gas currently earning $1,350 per month expiring June 2025.

Unit 2 is a 2BR with electric heat currently earning $1,910 per month expiring July 2025.

Unit 3 is a 2BR with forced air by gas heat currently earning $1,735 per month expiring April 2025.

The commercial unit is in fantastic condition and has a non-binding LOI for a user willing to sign a 5-year NNN lease for $5,000 monthly in year-one with annual market bumps and options to renew, subject to town approval, or delivered vacant as an owner occupied unit.

7 Bridge Street in Danvers is located at the junction of Route 62 and Bridge Street, about a mile from Route 128 toward the west and about a mile from the Cummings Center and Starbucks to the east.

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For complete I&E Data, Showings / Inquiries:

   ●  Call Brian DApice directly at 978-609-1339 or email