Mixed-Use Corner Building with
For Sale
$799,000
261 Rantoul Street, Beverly, MA 01915
Corner mixed-use building with a high-visibility storefront, two residential units, and oversized garage with full basement.
Property Size3,231 SF
Price / SF$247.29
Days on Market281
Property Features for 261 Rantoul Street
General Information
Standard status
Active
Size
3,231 SF
Total Parking Spaces
1
Property subtype
Multi-family / 3 Family
Zoning
CC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,856
Amenities
high-visibility storefront
oversized garage
full basement
updated fire alarm systems
walk-to-train access
No
Wood, Vinyl, Carpet, Varies, Hardwood
Range, Refrigerator
Insulated Doors, Storm Door(s)
4.0
Insulated Windows, Storm Window(s)
Electric Dryer Hookup, Washer Hookup
Partial
Ceiling Fan(s), Storage, Living Room, Kitchen, Family Room, Laundry Room, Window AC
2
3.00
4
Fenced
Frame
Shingle
Corner Lot, Zero Lot Line
Fenced Yard, Porch, Deck, Patio
Harbor, River, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
Porch, Deck, Patio
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Davis McVay · License #9586649
(978) 992-4050
Source:
Compass
Added: Nov 30, 2025
Changed: Aug 8
Last Checked: Jul 22 at 10:02PM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
Located on the corner of Federal and Rantoul, 261 Rantoul Street in Beverly offers a mixed-use configuration with a high-visibility storefront, two residential units, and an oversized garage supported by a full basement. The building also includes a brand new 400-amp electrical system and updated fire alarm systems.
The property is steps from Beverly Depot, positioning the storefront for strong day-to-day visibility. It is well-suited for owner-occupancy or those seeking a flexible downtown-style footprint that combines retail frontage with on-site housing and substantial garage and storage space.
The property is steps from Beverly Depot, positioning the storefront for strong day-to-day visibility. It is well-suited for owner-occupancy or those seeking a flexible downtown-style footprint that combines retail frontage with on-site housing and substantial garage and storage space.
Key Highlights
- Corner mixed‑use building on Federal and Rantoul Sts with a high‑visibility storefront
- Total building size of 3,300 sq ft with two residential units
- Oversized garage plus full basement included
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
$54,430
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
6.81%
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%
$1,088,600
$1.1M
Cap Rate 7%
$777,571
$777.6K
Cap Rate 9%
$604,778
$604.8K
Market Conditions
NOI Build-Up for 3,231 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
$81.4K $25.20/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$77.8K $24.07/SF
− OpEx
−$23.3K −$7.22/SF
NOI
$54.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,088,600
Cap Rate 7%
$777,571
Cap Rate 9%
$604,778
Alternative Uses
Best Use
Multifamily LT 5
$777.6K
$680.4K – $907.2K
NOI $54,430 @ 7.0% cap · market cap 6.81%
Second Best
Retail
$758.4K
$663.6K – $884.8K
NOI $53,087 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,892 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,976
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Corner mixed-use building with a high-visibility storefront, two residential units, and oversized garage with full basement.
Where is this duplex located?
The property is located at 261 Rantoul Street Beverly, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Corner mixed‑use building on Federal and Rantoul Sts with a high‑visibility storefront; Total building size of 3,300 sq ft with two residential units; Oversized garage plus full basement included
