Restaurant Condo with Full
New
For Sale
$995,000
1-140 High, Newburyport, MA 01950
Furnished dining space accommodates 66 guests and includes two assigned parking spaces.
Property Size4,239 SF
Price / SF$234.73
Days on Market3
Property Features for 1-140 High
General Information
Standard status
Active
Size
4,239 SF
Total Parking Spaces
2
Space & Availability
Floor
Ground
Furnished
Yes
Restaurant
Seating Capacity
66
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$7,055
Amenities
full kitchen
seating for 66
Listing Agency:
RE/MAX Partners
Listed By:
The Carroll Group
(978) 475-2100
Source:
Exprealty
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:35AM
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 RE/MAX Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This first-floor restaurant condominium offers 3,091 square feet of updated commercial space, with seating for 66. Furnishings include tables, chairs, and bar stools, alongside a full kitchen. An additional 1,148 square feet of unfinished basement area provides storage space.
The property is across the street from the Essex County Court House and close to downtown Newburyport. Parking includes two assigned spaces in the lot behind the building, with street parking also available.
The property is across the street from the Essex County Court House and close to downtown Newburyport. Parking includes two assigned spaces in the lot behind the building, with street parking also available.
Key Highlights
- 3,091 square feet of updated first‑floor commercial space
- Full kitchen, tables, chairs, and bar stools are included
- Dining area seats 66
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,355
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,567,100
$1.6M
Cap Rate 7%
$1,119,357
$1.1M
Cap Rate 9%
$870,611
$870.6K
Market Conditions
NOI Build-Up for 4,239 SF
Gross rent
$106.8K $25.20/SF
− Vacancy
−$2.4K −$0.55/SF
EGI
$104.5K $24.65/SF
− OpEx
−$26.1K −$6.16/SF
NOI
$78.4K $18.48/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,567,100
Cap Rate 7%
$1,119,357
Cap Rate 9%
$870,611
Alternative Uses
Best Use
Specialty Retail
$1.12M
$979.4K – $1.31M
NOI $78,355 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$995.0K
$870.6K – $1.16M
NOI $69,648 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,663 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Newburyport Bank
Shops & Services
1,650 visits/mo
0.3 miles
Demographics for 01950, MA
18,289
Population
8,298
Households
2.2
Avg Household Size
50
Median Age
66%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,177
Density / Sq Mi
$144,259
Median Household Income
$85,573
Median Earnings
$1,511
Median Rent
$792,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Furnished dining space accommodates 66 guests and includes two assigned parking spaces.
Where is this conventional restaurant located?
The property is located at 1-140 High Newburyport, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,091 square feet of updated first‑floor commercial space; Full kitchen, tables, chairs, and bar stools are included; Dining area seats 66
