Turnkey Brewery and
For Sale
$1,375,000
Pending
232 Rantoul St, Beverly, MA 01915
Operational brewery and taproom with on-site equipment in Central Commercial zoning near commuter rail and major roads.
Property Size3,982 SF
Days on Market66
Property Features for 232 Rantoul St
General Information
Standard status
Pending
Size
3,982 SF
Total Parking Spaces
3
Zoning
CC
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,064
Building Details
Building Size
3,982 SF
Year Built
1923
Listing Agency:
Churchill Properties
(978) 258-5211
Listed By:
Samuel Gifford
Source:
413realestate
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 8 at 4:22AM
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.
This offering includes 232 Rantoul St along with an existing, fully operational brewery and taproom setup. The space is described as approximately 4,000 +/- square feet and is laid out to support restaurant/bar service and production on-site. The package is positioned as turnkey, with a modern brewing system, customer-facing areas, and all associated equipment included for immediate brewing and service.
The property is in downtown Beverly and is listed under Central Commercial zoning. It is described as being close to the Beverly Depot commuter rail station, with easy access to highways and frontage on a highly trafficked main road.
For buyers looking for an operating craft beverage concept, this configuration offers the real estate along with the brewery business and equipment already on-site. The seller will also consider a sale of the real estate only without the business and business assets, or buyers may combine the real estate with the separate business opportunity listed at MLS #73414041.
The property is in downtown Beverly and is listed under Central Commercial zoning. It is described as being close to the Beverly Depot commuter rail station, with easy access to highways and frontage on a highly trafficked main road.
For buyers looking for an operating craft beverage concept, this configuration offers the real estate along with the brewery business and equipment already on-site. The seller will also consider a sale of the real estate only without the business and business assets, or buyers may combine the real estate with the separate business opportunity listed at MLS #73414041.
Key Highlights
- Central Commercial zoning—real estate sale at 232 Rantoul St with approx. 4,000 +/- SF described as restaurant/bar space
- Fully operational brewery and taproom with a modern brewing system for immediate production and service
- Includes on‑site equipment needed for brewery and taproom operations
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
$73,604
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
5.35%
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%
$1,472,080
$1.5M
Cap Rate 7%
$1,051,486
$1.1M
Cap Rate 9%
$817,822
$817.8K
Market Conditions
NOI Build-Up for 3,982 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
$100.3K $25.20/SF
− Vacancy
−$2.2K −$0.55/SF
EGI
$98.1K $24.65/SF
− OpEx
−$24.5K −$6.16/SF
NOI
$73.6K $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%
$1,472,080
Cap Rate 7%
$1,051,486
Cap Rate 9%
$817,822
Alternative Uses
Best Use
Specialty Retail
$1.05M
$920.1K – $1.23M
NOI $73,604 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$605.1K
$529.5K – $705.9K
NOI $42,356 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,013 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,423
Businesses Nearby
Explore this area
Business Placement
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Operational brewery and taproom with on-site equipment in Central Commercial zoning near commuter rail and major roads.
Where is this brewery 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: Central Commercial zoning—real estate sale at 232 Rantoul St with approx. 4,000 +/- SF described as restaurant/bar space; Fully operational brewery and taproom with a modern brewing system for immediate production and service; Includes on‑site equipment needed for brewery and taproom operations
