Mixed-Use Condominium
For Sale
$930,000
50 Main Street, Topsfield, MA 01983
Four rental spaces combine two apartments with commercial areas in a historic village property.
Property Size3,269 SF
Days on Market195
Property Features for 50 Main Street
General Information
Standard status
Active
Size
3,269 SF
Class
B
Property subtype
Multi Tenant Office
Additional Details
Floor
1
Multifamily Units
2
Building Details
Building Size
3,269 SF
Year Built
1890
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
KW Commercial | Inglewood
(978) 269-5445
Listed By:
Janet Faulkner · License #9516868
(978) 269-5445
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 2:01PM
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 KW Commercial | Inglewood
Investment Insights
Based on property information with market context.
This mixed-use condominium property contains four rental spaces: two apartments and two commercial areas. The first floor includes a front office area and a separate rear space currently used as a small gym. A two-bedroom apartment is tenant-occupied, while the owner uses one of the office areas.
Constructed in 1890, the property is located at 50 Main Street in Topsfield, Massachusetts. Its combination of residential and commercial components supports a range of ownership and occupancy arrangements, subject to verification of measurements, condition, permits, and intended-use suitability.
Constructed in 1890, the property is located at 50 Main Street in Topsfield, Massachusetts. Its combination of residential and commercial components supports a range of ownership and occupancy arrangements, subject to verification of measurements, condition, permits, and intended-use suitability.
Key Highlights
- Four rental spaces: two apartments and two commercial areas
- Two‑bedroom apartment is currently tenant‑occupied
- First‑floor layout includes front office space and a separate rear gym area
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
$66,197
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
7.12%
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%
$1,323,940
$1.3M
Cap Rate 7%
$945,671
$945.7K
Cap Rate 9%
$735,522
$735.5K
Market Conditions
NOI Build-Up for 3,269 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
$117.7K $36.00/SF
− Vacancy
−$11.8K −$3.60/SF
EGI
$105.9K $32.40/SF
− OpEx
−$39.7K −$12.15/SF
NOI
$66.2K $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%
$1,323,940
Cap Rate 7%
$945,671
Cap Rate 9%
$735,522
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,117 @ 7.0% cap · market cap 9.80%
Second Best
Mixed Use
$945.7K
$827.5K – $1.10M
NOI $66,197 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,467 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
361
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four rental spaces combine two apartments with commercial areas in a historic village property.
Where is this mixed-use property located?
The property is located at 50 Main Street Topsfield, MA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Four rental spaces: two apartments and two commercial areas; Two‑bedroom apartment is currently tenant‑occupied; First‑floor layout includes front office space and a separate rear gym area
