Downtown Beverly Commercial Building For
For Sale
$1,250,000
306 Cabot Street, Beverly, MA 01915
Free-standing commercial building in downtown Beverly with redevelopment potential.
Property Size2,921 SF
Lot Size0.27 Acres
Price / SF$427.94
Days on Market233
Property Features for 306 Cabot Street
General Information
Standard status
Active
Size
2,921 SF
Lot size
0.27 Acres
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Herrick Lutts Realty Partners
(978) 927-1959
Listed By:
Herrick Lutts Realty Partners
Source:
Corcoran
Added: Feb 19
Changed: Aug 24
Last Checked: Jul 25 at 4:01AM
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 Herrick Lutts Realty Partners
Investment Insights
Based on property information with market context.
Located in the heart of downtown Beverly, 306 Cabot Street offers a free-standing commercial building for sale. The 2,921 SF property is situated on a 0.27-acre lot and is zoned Central Business (CC), allowing for a wide variety of potential uses including retail, office, food service, and potential redevelopment to apartments. The interior features a flexible layout with a spacious open storefront area, four private offices, two restrooms, an eat-in kitchen, and abundant storage. The property benefits from exceptional visibility, strong foot and vehicle traffic, and proximity to restaurants, shops, and public transportation. The property includes an expansive on-site parking area accommodating 20+ vehicles, complemented by additional on-street public parking. Formerly configured as office space, this property is ideal for investors or owner-users seeking a prominent downtown location with versatility and convenience.
Key Highlights
- Prime downtown Beverly location with high visibility and foot/vehicle traffic.
- Flexible Central Business (CC) zoning allows for diverse uses: retail, office, food service, or potential redevelopment to apartments.
- Expansive on‑site parking for 20+ vehicles, plus additional on‑street parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,417
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,340
$1.6M
Cap Rate 7%
$1,163,100
$1.2M
Cap Rate 9%
$904,633
$904.6K
Market Conditions
NOI Build-Up for 2,921 SF
Gross rent
$133.2K $45.60/SF
− Vacancy
−$24.6K −$8.44/SF
EGI
$108.6K $37.16/SF
− OpEx
−$27.1K −$9.29/SF
NOI
$81.4K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,340
Cap Rate 7%
$1,163,100
Cap Rate 9%
$904,633
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.36M
NOI $81,417 @ 7.0% cap · market cap 6.51%
Second Best
Specialty Retail
$771.3K
$674.9K – $899.9K
NOI $53,992 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,045 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,527
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Free-standing commercial building in downtown Beverly with redevelopment potential.
Where is this storefront property located?
The property is located at 306 Cabot Street Beverly, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime downtown Beverly location with high visibility and foot/vehicle traffic.; Flexible Central Business (CC) zoning allows for diverse uses: retail, office, food service, or potential redevelopment to apartments.; Expansive on‑site parking for 20+ vehicles, plus additional on‑street parking.
