The neighborhood that this property is located is nothing special and as a local, not the best place around to walk around because of the high amount of car traffic, noise, small sidewalks, etc...
In terms of shops nearby, there are two major malls Cevahir and Trump Towers Mall that are located near the hotel ( both walking distance ) and should have a decent store options but in terms of shops in the street, nothing much other than tobacco shops, supermarkets and offices.

Although, if you like to walk, it would be better to walk towards the Nişantaşı area ( 15-20 minute walk ) which would have more restaurants, shops, etc... for a visitor. Also, if you are a decent speed walker, you could walk to Taksim within 30 minutes from this property and the Galata area within 45 minutes.