371 Cabot StBeverly, MA 01915

Property Details for 371 Cabot St

Year built

1890

Construction

FRAME

Lot size

0.16 AC

Property size (Sq ft)

3,709 SF

Zone code

CN

Property type

Office properties

Property subtype

Office buildings

APN

BEVE M:0020 B:0444 L:

APU

BEVEM0020B0444L

Description

This 3,709 square foot medical office building in Beverly, MA, is offered at $800,000 ($215.69/sq ft). Situated on a 7,974 square foot corner lot zoned Neighborhood Commercial (CN), it presents a compelling mixed-use development opportunity. The property includes ten parking spaces, with eight in the rear and a two-car garage, accessed via a large curb cut. Currently configured as commercial space, the building offers redevelopment potential for residential apartments and street-level retail. Conveniently located near downtown Beverly at the base of Prospect Hill, it's within walking distance of parks, shops, restaurants, and The Cabot Theater. Excellent access to Montserrat rail and Route 128 is also a key advantage. The building features two central HVAC systems, one forced hot water boiler, four electric meters, and one natural gas meter. This property offers a unique blend of existing functionality and significant future development potential in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $613,208

  6.5%

  $566,039

  7%

  $525,607

• Comparable approach

  Method

  Valuation

  Relative Method

  $484,618

  Geo Method

  $484,618

• Alternative Use

  Use

  Valuation

  Residential

  $701,888

  Hospitality

  $642,926

  Educational

  $534,906

  Medical

  $553,303

  Retail

  $832,077

Location Insight

City

Beverly

County

Essex

State

Massachusetts

Latitude

42.557

Longitude

-70.8782

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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