Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    451 Essex St Beverly, MA 01915

    View on Map
    Claim this Listing
    For Lease
    $35 SF/Yr

    Commercial Lease, Other - Beverly, MA

    Lot size:
    1.85 Acres
    Added:
    Jan 15, 2026
    Days on Market:
    106
    Last Refresh:
    May 1 at 3:06 pm

    Property Features for 451 Essex St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Other (See Remarks)
    Standard status
    Active
    APN
    M:0071 B:0010 L:,4189445
    Lot size
    1.85 Acres

    Building Details

    Year built
    2024
    Architectural style
    Other

    We can help!

    Listing Contact
    Katelyn Ciaramitaro

    Listing agent Katelyn Ciaramitaro

    Listing office Engel & Völkers Gloucester 120 Main Street, Gloucester, MA

    Listing date Jan 15, 2026

    MLS# 73329224 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Commercial Space in Beverly

    This new construction commercial space is located in Centerville, Beverly. The property features two floors, with the first floor suitable for a reception area and the second floor ready to be outfitted for office use. The property includes 12 parking spots. The location offers high visibility and proximity to 128. The lot size is 1.85 acres. Ownership is open to discussing pricing opportunities and welcomes serious offers as part of a flexible negotiation process.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Gym & Fitness Center Daycare Center Kitchen & Bath Showroom Department Store Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Beverly
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8493514
    Latitude
    42.5763063

    Nearby Similar for Lease

    • $1,625/Mo

      Beverly Office Space For Lease

      Office space in a busy plaza, available for lease.
      79 Bridge Street unit: E, Beverly, MA 01915
      View Details
    • Contact for pricing

      Beverly Office Space For Rent

      Office space in Beverly's Ryal Side area, ready now.
      79 Bridge Street #E, Beverly, MA 01915
      View Details
    • $3,795/Mo

      Beverly Take-Out Restaurant Opportunity

      Take-out restaurant with parking on a busy Beverly intersection.
      437 Rantoul, Beverly, MA 01915
      View Details
    • Contact for pricing

      Retail Space on Cabot Street

      Street-level commercial space in Beverly with high visibility.
      94 Cabot St, Beverly, MA 01915
      View Details
    • $2,700/Mo

      Downtown Beverly Retail Storefront Available

      Retail storefront in downtown Beverly with high visibility.
      231 Cabot St, Beverly, MA 01915
      View Details
    • $20 SF/Yr

      Beverly Retail Space For Rent

      Retail space available for lease in Beverly, Massachusetts.
      500 Cummings Center #3490, Beverly, MA 01915
      View Details
    • Contact for pricing

      Retail Space in Cabot Plaza

      913 SF retail suite in downtown Beverly for lease.
      409 Cabot Street #9B, Beverly, MA 01915
      View Details
    • Contact for pricing

      Warehouse Bay for Rent

      Warehouse bay with overhead door, suitable for contractors.
      17 Wellman St, Beverly, MA 01915
      View Details
    • $35 SF/Yr

      New Commercial Space in Centerville

      Two-story commercial space with parking in a vibrant community.
      451 Essex St, Beverly, MA 01915
      View Details
    • Contact for pricing

      Beverly Commercial Space For Rent

      Street-level commercial space with high visibility and flexible layout.
      447 Rantoul St, Beverly, MA 01915
      View Details
    • Contact for pricing

      Street-Level Commercial Space in Beverly

      Commercial space in Beverly, MA with high visibility.
      94 Cabot St, Beverly, MA 01915
      View Details
    • $4,900/Mo

      Beverly Retail/Showroom Space Available

      Street-level commercial space in Beverly with high visibility.
      447 Rantoul St, Beverly, MA 01915
      View Details

    FAQs

    What type of property is this?
    Office property - Two-story commercial space with ample parking and high visibility.
    Where is this office property located?
    The property is located at 451 Essex St Beverly, MA.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Prime commercial space in a vibrant, picturesque community.; Brand‑new 2024 construction, ready to be customized.; Two floors: reception area on the first floor and office space on the second floor.
    (978) 865-1168
    We can help!
    Listing Contact
    Katelyn Ciaramitaro
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    451 Essex St, Beverly, MA 01915

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!