Renovated Mixed-Use Commercial
1 Merrimac Street #7, Newburyport, MA 01950
For Sale
$675,000
Street-level commercial condominium with a flexible layout, signage rights, and direct access to downtown amenities.
Property Size1,984 SF
Price / SF$809.35
Days on Market57
Property Features for 1 Merrimac Street #7
General Information
Standard status
Size
Lease Term
Additional Details
Floor
Amenities
exterior signage rights
high-speed internet and cable
kitchenette
full bathroom with shower
custom built-in cabinetry
utility closet
Building Details
Building Size
Year Built
Listing Agency:
Compass
(978) 248-8081
Listed By:
The Bakhtiari Group
(603) 560-5357
Source:
Iverty
Added: Sep 14
Changed: Nov 8
Last Checked: Nov 8 at 6:48AM
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 Compass
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Investment Insights
Based on property information with market context.
This 834-square-foot mixed-use commercial condominium occupies a street-level position at 1 Merrimac Street, Unit 7. The single-level interior includes a reception and work area, separate meeting and conference spaces, custom built-in cabinetry, a kitchenette, a full bathroom with shower, and a utility closet for storage. Exposed brick veneer, plank accents, wood-look tile flooring, and a custom conference table contribute to the finished interior. High-speed internet and cable wiring extend throughout the unit.
The property is positioned in downtown Newburyport at Market Square, overlooking Waterfront Park, with exterior signage rights and convenient access to the Green Street municipal parking lot through the rear entrance. The space was recently renovated and is offered for sale, with lease availability also noted. Built in 1984, the condominium is configured for professional office, consulting, creative, or boutique retail use.
The property is positioned in downtown Newburyport at Market Square, overlooking Waterfront Park, with exterior signage rights and convenient access to the Green Street municipal parking lot through the rear entrance. The space was recently renovated and is offered for sale, with lease availability also noted. Built in 1984, the condominium is configured for professional office, consulting, creative, or boutique retail use.
Key Highlights
- 834 SF street‑level mixed‑use commercial condominium
- Recently renovated single‑level interior with reception, conference, kitchenette, and full bathroom
- Exterior signage rights at 1 Merrimac Street, Unit 7
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,246
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,920
$464.9K
Cap Rate 7%
$332,086
$332.1K
Cap Rate 9%
$258,289
$258.3K
Market Conditions
NOI Build-Up for 834 SF
Gross rent
$38.0K $45.60/SF
− Vacancy
−$7.0K −$8.44/SF
EGI
$31.0K $37.16/SF
− OpEx
−$7.7K −$9.29/SF
NOI
$23.2K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,920
Cap Rate 7%
$332,086
Cap Rate 9%
$258,289
Alternative Uses
Best Use
Office B
$332.1K
$290.6K – $387.4K
NOI $23,246 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$241.3K
$211.1K – $281.5K
NOI $16,889 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$493.7K
$432.0K – $576.0K
NOI $34,561 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,763
Businesses Nearby
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Business Placement
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
$792,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Essex County, MA
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial condominium with a flexible layout, signage rights, and direct access to downtown amenities.
Where is this mixed-use property located?
The property is located at 1 Merrimac Street #7 Newburyport, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 834 SF street‑level mixed‑use commercial condominium; Recently renovated single‑level interior with reception, conference, kitchenette, and full bathroom; Exterior signage rights at 1 Merrimac Street, Unit 7
