[1] Wallace Farm is located in northern Columbia, a rural community on the east bank of the Connecticut River.

The farm property extends eastward from the river, straddling United States Route 3.

The farmstead consists of a series of connected buildings, the oldest of which is the c. 1825 main house, and a separate dairy barn.

The house is a 2 1/2 story timber frame structure, that has an L shape, and exhibits Greek Revival styling.

At first a diversified agricultural operation, the farm became focused on dairying as its primary activity in the late 19th century, continuing until 1986, when the herd was sold off.