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Property profile & analytics
OFF-MARKET
Estimated value
$15,995,000
Residential income homes
1 Essex St, Beverly, MA 01915-4560
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0570439
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1874
Construction
CONCRETE
Total area
73,019 SF
Lot
1.43 ac (62,256 SF)
Zoning code
CC
APN
BEVE M:0011 B:0475 L:
UPID
US38-0570439
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.08M
Comparable Approach
Comparable
$16.33M
Blend (final)
Blend
$16.00M
Owner & transaction history
Well Beverly Landlord LLC · 3 yrs held
Well Beverly Landlord LLC
since 2023
Last sale
$16.0M
4 recorded transactions
Zoning & alternative use
CC · Beverly, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$25.2M
+8.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Beverly submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Beverly submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$15,650,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$18,505,000
6.5%
$17,080,000
7%
$15,860,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$23,345,000
Current use
RESTAURANT
$25,205,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$21,975,000
Change: -6% · Conversion: Moderate
OFFICE BUILDING
$18,765,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$16.00M
Range $14.40M – $17.59M · ±10% · vs last sale $16.00M (Jan 12 2023)
Last sale anchor
$16.00M
Jan 12 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$219 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$123,360
Tax year 2024
Assessed value
$10,984,900
Assessed 2024
Previous assessed
$10,984,900
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$7,790,000
Assessed improvement
$3,194,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1874
Construction
CONCRETE
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
5
Units
82
Rooms
85
Bathrooms
97
Total area
73,019 SF
Lot
1.43 ac (62,256 SF)
Zoning code
CC
APN
BEVE M:0011 B:0475 L:
UPID
US38-0570439
Jurisdiction
BEVERLY
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CC · Beverly, MA
Zoning CC · permitted uses
CC · Beverly, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Beverly. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$23.3M
RESTAURANT
Est. value
$25.2M
COMMERCIAL (GENERAL)
Est. value
$22.0M
OFFICE BUILDING
Est. value
$18.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1874
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
5
Buildings
1
Units
82
Rooms
85
Bathrooms
97
Lot
1.43 ac
Current owner
From public records · entity-resolved
Well Beverly Landlord LLC
Entity
Mailing address
4500 DORR ST, TOLEDO, OH 43615-4040
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2023
—
Well Beverly Landlord LLC
Welltower Nnn Group LLC
Quit Claim Deed
related
—
Dec 30, 2021
$16,000,000
Welltower Nnn Group LLC
Briscoe LP
Quit Claim Arm's Length For Ne States
—
Dec 30, 1996
—
Briscoe LP
—
Deed Of Trust
related
$8,209,700 · Charles River Mortgage Co
Apr 29, 1996
$325,000
Briscoe LP
Beverly City Of
Grant Deed
$187,500 · Boston Private Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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