Two-Unit Mixed-Use
For Sale
$655,000
146 Burrill St, Swampscott, MA 01907
Separate street-level commercial space and an upper-floor one-bedroom apartment support flexible occupancy.
Property Size1,600 SF
Days on Market139
Property Features for 146 Burrill St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Zoning
B1, Legal Non-Conforming
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Floor
1
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,671
Amenities
composite deck
washer and dryer
Building Details
Building Size
1,600 SF
Year Built
1964
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Beacon
(781) 771-9949
Listed By:
Kathleen Sullivan
(781) 771-9949
Source:
Liongatere
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 30 at 5:34PM
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 RE/MAX Beacon
Investment Insights
Based on property information with market context.
This 1,600-square-foot mixed-use property contains two distinct units across two floors. The ground level offers an open retail or commercial area, an additional office or workroom, two half baths, a rear exit, and access toward parking. The upper level is a maintained one-bedroom apartment with a living and dining area, full bath, updated kitchen, hardwood flooring, and a composite deck reached by exterior stairs.
Property systems include gas-fired hot-water baseboard heat and a separate gas hot-water tank. Replacement windows are installed throughout. A large unfinished basement provides storage and includes a washer and dryer. The driveway is shared through an easement. The property is located near the Swampscott Commuter Rail station, Swampscott Downtown, Monument Square, King's Beach, and Fisherman's Beach.
Property systems include gas-fired hot-water baseboard heat and a separate gas hot-water tank. Replacement windows are installed throughout. A large unfinished basement provides storage and includes a washer and dryer. The driveway is shared through an easement. The property is located near the Swampscott Commuter Rail station, Swampscott Downtown, Monument Square, King's Beach, and Fisherman's Beach.
Key Highlights
- 1,600‑square‑foot mixed‑use property with two separate units
- Ground‑floor open retail/commercial space with office area and 2 half baths
- Upper‑level one‑bedroom apartment with updated kitchen and composite deck
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
$32,400
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
4.95%
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%
$648,000
$648.0K
Cap Rate 7%
$462,857
$462.9K
Cap Rate 9%
$360,000
$360.0K
Market Conditions
NOI Build-Up for 1,600 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
$57.6K $36.00/SF
− Vacancy
−$5.8K −$3.60/SF
EGI
$51.8K $32.40/SF
− OpEx
−$19.4K −$12.15/SF
NOI
$32.4K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$648,000
Cap Rate 7%
$462,857
Cap Rate 9%
$360,000
Alternative Uses
Best Use
Mixed Use
$462.9K
$405.0K – $540.0K
NOI $32,400 @ 7.0% cap · market cap 4.95%
Second Best
Retail
$375.6K
$328.6K – $438.2K
NOI $26,289 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$947.2K
$828.8K – $1.11M
NOI $66,304 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Citgo
Shops & Services
3,794 visits/mo
0.5 miles
Giovanni's Pizza
Dining
1,097 visits/mo
0.4 miles
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate street-level commercial space and an upper-floor one-bedroom apartment support flexible occupancy.
Where is this mixed-use property located?
The property is located at 146 Burrill St Swampscott, MA.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: 1,600‑square‑foot mixed‑use property with two separate units; Ground‑floor open retail/commercial space with office area and 2 half baths; Upper‑level one‑bedroom apartment with updated kitchen and composite deck
