Mixed-Use Property with
New
For Sale
$1,400,000
414 Boston St, Topsfield, MA 01983
Commercial Sale, Topsfield, MA
Property Size5,053 SF
Lot Size0.70 Acres
Price / SF$277.06
Days on Market1
Property Features for 414 Boston St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BP
Zoning description
Legal Non-Conforming
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 5
Directions
Boston Post Road is Route 1
Standard status
Active
APN
M:0019 B:0004 L:,3693514
Size
5,053 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11806
Building Details
Year built
1979
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 528-1000
Listed By:
Jennifer Hoyt
(508) 695-4545
Added: Sep 27
Last Checked: Sep 27 at 2:06PM
MLS# 73583055
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 5,053-square-foot property includes a freestanding Italian/pizza restaurant with dining areas, counter service, a commercial kitchen, prep space, refrigeration, stainless-steel equipment and a wood-fired pizza oven. Outdoor seating is also available. The property is subdivided and separately metered for up to four tenant spaces. Its configuration can accommodate two residential apartments, or an apartment alongside office or retail space. Improvements include gas-fired rooftop HVAC units, rubber roofing, natural gas and public water.
At 414 Boston St in Topsfield, the property fronts Route 1, with approximately 467 feet of frontage. The site spans approximately 0.70 acres and includes approximately 50 parking spaces. Zoning is BP.
At 414 Boston St in Topsfield, the property fronts Route 1, with approximately 467 feet of frontage. The site spans approximately 0.70 acres and includes approximately 50 parking spaces. Zoning is BP.
Key Highlights
- 5,053‑square‑foot mixed‑use property with restaurant, residential and commercial components
- Freestanding Italian/pizza restaurant includes a wood‑fired pizza oven and commercial kitchen equipment
- Subdivided and separately metered for up to four tenant spaces
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
$102,323
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
7.31%
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%
$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
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
$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 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%
$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
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant improvements are paired with flexible residential and commercial space in a BP-zoned property.
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: 5,053‑square‑foot mixed‑use property with restaurant, residential and commercial components; Freestanding Italian/pizza restaurant includes a wood‑fired pizza oven and commercial kitchen equipment; Subdivided and separately metered for up to four tenant spaces
