Brewery and Taproom in
For Sale
$1,375,000
232 Rantoul St, Beverly, MA 01915
Turnkey brewery and taproom in downtown Beverly, Massachusetts.
Property Size3,982 SF
Lot Size0.12 Acres
Price / SF$343.75
Days on Market153
Property Features for 232 Rantoul St
General Information
Standard status
Active
Size
3,982 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,064
Building Details
Building Size
3,982 SF
Year Built
1923
Listing Agency:
Churchill Properties
(781) 307-0228
Listed By:
Samuel Gifford
(781) 307-0228
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Churchill Properties
Investment Insights
Based on property information with market context.
Located in downtown Beverly, Massachusetts, this property offers a turnkey brewery and taproom experience. The property, situated at 232 Rantoul St, includes the existing business (Old Planters Brewing) and all associated equipment. The space is approximately 4,000 square feet and is zoned Central Commercial, described as a restaurant/bar. The location provides close proximity to the Beverly Depot commuter rail station, easy access to highways, and high traffic flow on the main road. The property is one of the North Shore's most recognizable craft brewing establishments, featuring a modern brewing system and a customer-facing space. The seller will also consider selling the real estate only without the business and business assets. The property can be combined with the Business Opportunity.
Key Highlights
- Fully operational, turnkey brewery and taproom in downtown Beverly.
- Includes a modern brewing system and all equipment for immediate production and service.
- Prime location near Beverly Depot commuter rail station, highways, and a highly trafficked main road.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,937
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,478,740
$1.5M
Cap Rate 7%
$1,056,243
$1.1M
Cap Rate 9%
$821,522
$821.5K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.8K $25.20/SF
− Vacancy
−$2.2K −$0.55/SF
EGI
$98.6K $24.65/SF
− OpEx
−$24.6K −$6.16/SF
NOI
$73.9K $18.48/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,478,740
Cap Rate 7%
$1,056,243
Cap Rate 9%
$821,522
Alternative Uses
Best Use
Specialty Retail
$1.06M
$924.2K – $1.23M
NOI $73,937 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,759 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,423
Businesses Nearby
42k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 36%
Home Improvements & Furnishings 6%
Speedway
Shops & Services
15,345 visits/mo
0.3 miles
Dunkin' Donuts
Dining
15,338 visits/mo
0.4 miles
TD Bank
Shops & Services
5,068 visits/mo
0.2 miles
Moynihan Lumber Of Beverly
Home Improvements & Furnishings
1,504 visits/mo
0.2 miles
Kelly Ford, Inc
Shops & Services
1,276 visits/mo
0.1 miles
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Lucky Dog — 129 Cabot St, Beverly, MA 01915
- Anchor Pub & Grille — 20 Cabot St, Beverly, MA 01915
- Toscana Bar Italiano — 90 Rantoul St, Beverly, MA 01915
- Franco American Club Functions — 44 Park St, Beverly, MA 01915
- Old Planters Brewing Co. — 232 Rantoul St, Beverly, MA 01915
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey brewery and taproom in downtown Beverly, Massachusetts.
Where is this bar & pub located?
The property is located at 232 Rantoul St Beverly, MA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Fully operational, turnkey brewery and taproom in downtown Beverly.; Includes a modern brewing system and all equipment for immediate production and service.; Prime location near Beverly Depot commuter rail station, highways, and a highly trafficked main road.
