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15 Cherry Street # 24, Danvers MA 01923

Danvers, MA 01923 • Danvers Center
$1,525,000
$1,390,000
Est. $8,806/month
4,645
Sq Ft
$299
Price/Sq Ft
0.10
Acres
1900
Year Built
281
Days on Market
Active Price Drop -$135,000 Listed Oct 2, 2025 • MLS# 73438789 Copied! • Updated Apr 21, 2026

About this home

Downtown Danvers Mixed-Use Investment - Rare opportunity to own a well-maintained, professionally managed mixed-use property in the heart of downtown Danvers. This income-producing building features four units, including two street-level commercial spaces and two residential apartments above, offering strong cash-flow potential and long-term investment value. The commercial units benefit from outstanding visibility and flexible floor plans ideal for office, retail, or service use. The residential apartments are spacious, well-maintained, and attractive to long-term tenants. Ample off-street parking enhances the property’s appeal, providing a rare convenience in the downtown setting. Located just moments from restaurants, shops, public transportation, and major commuter routes, this is a standout opportunity in a highly desirable location. New price adjustment and Motivated Seller create an exceptional value for investors and owner-occupants alike. Showings are by appointment only.

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Recently Sold Nearby

Property History

Market Insights

1
Price Changes
8.9%
Price Range

Property Timeline

Price Reduced
Mar 16, 2026
$1,390,000 $135,000 (-8.85%)
From $1,525,000 to $1,390,000 (-8.8%)
🏠
Listed for Sale
Oct 2, 2025
$1,525,000
Original listing
Agent: Stephen Velonis Office: Coldwell Banker Realty - Lynnfield

Tax History

Year Taxes Assessment
2025 $18,926

Financial Details

Annual Property Tax
$18,926
Tax Year 2025

Facts & Features

Home Facts

Type Commercial Sale
Year Built 1900
Living Area 4,645 sq ft
Lot Size 0.10 acres
Heating None
Cooling None
Flooring None
Appliances None
Fireplace None
Basement None
Laundry None
Features None
Construction None
Architecture None
Roof Asphalt/composition Shingles
Features None
Pool None
Spa None
Fencing None
Patio/Porch None
Features None

Utilities

Electric None
Water None
Sewer None
Gas None
Other Public Water, Public Sewer, Natural Gas Available

Financial

Annual Tax $18,926
Fee Includes None
Amenities None
Optional Fee Includes None
Seller Disclosures Units 21 & 24 Are Commercial And Units 22 & 23 Are Residential. All Measurements Are Approximate.
Possession None
Accepted Financing None
Structure Type []
Documents None
County Essex

Property Overview

Listing Type
Commercial Sale
Year Built
1900
Living Area
4,645 sq ft

Room Details

Other Floor

Bathroom1
Bedroom5
Bedroom4
Bedroom3
Dining Room
Kitchen
Bathroom2
Bedroom2
Living Room
Bathroom3
Master Bedroom
Office
Family Room
Master Bathroom

Interior Features

Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:

Construction & Materials

Year Built: 1900
Structure Type:
Exterior Materials:
Roof: Asphalt/Composition Shingles
Foundation:

Heating, Cooling & Utilities

Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:

Exterior & Lot

Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Parking Features:

Nearby Schools

School information not available for this location.

Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $1,577
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Location

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Neighborhood

Danvers Center

15 Cherry Street # 24, Danvers MA 01923

Danvers, MA 01923

Listing Information

Listing Agent Stephen Velonis
Listing Office Coldwell Banker Realty - Lynnfield
Office Phone 781-334-5700
Agent MLS ID CT000331
Office MLS ID AN6219
Listing Data Updated Apr 21, 2026 12:06 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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