Mixed-Use Property with
For Sale
$1,400,000
414 Boston St, Topsfield, MA 01983
Separate metering allows the property to serve up to four tenant spaces across restaurant, residential, and commercial areas.
Property Size5,053 SF
Lot Size0.70 Acres
Days on Market8
Property Features for 414 Boston St
General Information
Standard status
Active
Size
5,053 SF
Total Parking Spaces
50
Lot size
0.70 Acres
Property subtype
Commercial
Zoning
Business Park District
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Patio
Yes
Taxes and HOA fees
Annual Taxes
$11,806
Amenities
outdoor seating area
Building Details
Building Size
5,053 SF
Year Built
1979
Listing Agency:
Keller Williams Elite
Listed By:
Matthew Kelly
(508) 294-3869
Source:
Classifiedrealtygroup
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 4 at 7:02AM
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 Elite
Investment Insights
Based on property information with market context.
A freestanding Italian and pizza restaurant anchors this mixed-use property, with dining areas, counter service, a commercial kitchen, prep areas, refrigeration, stainless-steel equipment, and a wood-fired pizza oven. Outdoor seating adds another component. The broader property can accommodate two apartments or an apartment alongside office or retail space, and is divided and separately metered for up to four tenant spaces. The building was constructed in 1979 and includes gas-fired rooftop HVAC units, rubber roofing, natural gas, and public water.
The approximately 0.70-acre site has approximately 467 feet of frontage on Route 1 and approximately 50 on-site parking spaces. The property is in the Business Park District.
The approximately 0.70-acre site has approximately 467 feet of frontage on Route 1 and approximately 50 on-site parking spaces. The property is in the Business Park District.
Key Highlights
- Freestanding restaurant includes a wood‑fired pizza oven, commercial kitchen, dining areas, and outdoor seating
- Separately metered configuration supports up to four tenant spaces
- Can accommodate two apartments or one apartment with office or retail space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,323
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,046,460
$2.0M
Cap Rate 7%
$1,461,757
$1.5M
Cap Rate 9%
$1,136,922
$1.1M
Market Conditions
NOI Build-Up for 5,053 SF
Gross rent
$181.9K $36.00/SF
− Vacancy
−$18.2K −$3.60/SF
EGI
$163.7K $32.40/SF
− OpEx
−$61.4K −$12.15/SF
NOI
$102.3K $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 Rate 5%
$2,046,460
Cap Rate 7%
$1,461,757
Cap Rate 9%
$1,136,922
Alternative Uses
Best Use
Mixed Use
$1.46M
$1.28M – $1.71M
NOI $102,323 @ 7.0% cap · market cap 7.31%
Second Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,401 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,395 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
10,319 visits/mo
0.4 miles
Demographics for 01983, MA
6,569
Population
2,319
Households
2.8
Avg Household Size
47
Median Age
73%
College-Educated
98%
High-School Grad
11.9 sq mi
ZIP Area
552
Density / Sq Mi
$176,698
Median Household Income
$74,872
Median Earnings
$1,003
Median Rent
$810,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate metering allows the property to serve up to four tenant spaces across restaurant, residential, and commercial areas.
Where is this mixed-use property located?
The property is located at 414 Boston St Topsfield, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Freestanding restaurant includes a wood‑fired pizza oven, commercial kitchen, dining areas, and outdoor seating; Separately metered configuration supports up to four tenant spaces; Can accommodate two apartments or one apartment with office or retail space
