Three-Bedroom
For Sale
Contact for pricing
21 BENNETT ST, Beverly, MA 01915
Three-bedroom floor-through triplex with separate heat and oversized rooms.
Property Size5,484 SF
Price / SF$179.61
Days on Market32
Property Features for 21 BENNETT ST
General Information
Standard status
Active
Size
5,484 SF
Property subtype
Multifamily
Zoning
RMD
Occupancy
100%
Building Details
Year Built
1900
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
North Shore Realty Advisors
(617) 548-7737
Listed By:
Dan Pouladian · License #MA 423847
Source:
Crexi
Added: Jul 13
Changed: Aug 8
Last Checked: Aug 13 at 3:53AM
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 North Shore Realty Advisors
Investment Insights
Based on property information with market context.
This 3-family triplex offers three-bedroom, floor-through units configured with separate heat. Each unit features oversized rooms, supporting flexible layout options for everyday living and privacy between spaces.
The property is located off Cabot Street and is close to Downtown, making it convenient for commuting and local access.
Built in 1900, the building comprises 5,484 SF total and is well suited for buyers seeking a multi-family asset with clearly separated heating systems and consistent unit bedroom configurations.
The property is located off Cabot Street and is close to Downtown, making it convenient for commuting and local access.
Built in 1900, the building comprises 5,484 SF total and is well suited for buyers seeking a multi-family asset with clearly separated heating systems and consistent unit bedroom configurations.
Key Highlights
- 3‑family triplex with three‑bedroom floor‑through units
- Separate heat for each unit
- Oversized rooms throughout the units
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
$83,392
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
8.47%
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%
$1,667,840
$1.7M
Cap Rate 7%
$1,191,314
$1.2M
Cap Rate 9%
$926,578
$926.6K
Market Conditions
NOI Build-Up for 5,484 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
$157.9K $28.80/SF
− Vacancy
−$6.3K −$1.15/SF
EGI
$151.6K $27.65/SF
− OpEx
−$68.2K −$12.44/SF
NOI
$83.4K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,667,840
Cap Rate 7%
$1,191,314
Cap Rate 9%
$926,578
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.15M – $1.54M
NOI $92,385 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,392 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,256 @ 7.0% cap · market cap 23.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,804
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-bedroom floor-through triplex with separate heat and oversized rooms.
Where is this triplex located?
The property is located at 21 BENNETT ST Beverly, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 3‑family triplex with three‑bedroom floor‑through units; Separate heat for each unit; Oversized rooms throughout the units
