109 Dodge StBeverly, MA 01915

Property Details for 109 Dodge St

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

3,087 SF

Zone code

R10

Property type

Investment properties

Property subtype

Live-work space

APN

BEVE M:0067 B:0093 L:

APU

BEVEM0067B0093L

Description

This mixed-use property in Beverly, Massachusetts, presents a compelling investment opportunity. The offering includes two parcels totaling 24,560 square feet. The main parcel, 109 Dodge Street, features a 5,595 square foot, two-unit building constructed around 1688. Currently, the ground floor houses a dental practice under lease until October 2025, with a five-year renewal option. Above is a two-bedroom residential apartment on a month-to-month tenancy. The second parcel, 5 Tozer Road (13,540 sq ft), is zoned residentially and currently used as a parking lot. Both parcels are zoned R-10, allowing for single-family residences at urban density. The property's location at the corner of Tozer Road and Dodge Street (Route 1A) provides convenient access to Route 128 via Route 1A (approximately a two-minute drive). Recent development approvals in the immediate vicinity suggest potential for redevelopment or expansion. The asking price is $1,100,000, translating to $196.60 per square foot. This represents a 100% occupied, value-add investment with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $510,373

  6.5%

  $471,114

  7%

  $437,463

• Comparable approach

  Method

  Valuation

  Relative Method

  $403,347

  Geo Method

  $403,347

• Alternative Use

  Use

  Valuation

  Residential

  $584,181

  Hospitality

  $535,107

  Educational

  $445,203

  Medical

  $460,514

  Retail

  $692,537

Location Insight

City

Beverly

County

Essex

State

Massachusetts

Latitude

42.58

Longitude

-70.8865

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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