Updated Office Condo in
1 Harris #5 Newburyport, MA 01950
For Sale
$675,000
2,201 SF office condo with modern updates and historic charm.
Property Size2,201 SF
Price / SF$306.68
Days on Market94
Property Features for 1 Harris #5
General Information
- Standard status
- Active
- Size
- 2,201 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency:
Keller Williams Realty Evolution
(978) 852-3936
Listed By:
Neca Group
(978) 852-3936
Source:
Liongatere
Added: Apr 25
Changed: Jul 10
Last Checked: Jul 26 at 4:30PM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
Located at 1 Harris St, Unit 5, this 2,201 SF office condo is situated on the second floor of the One Harris St Professional Office Building. The suite combines historic character with modern updates, featuring exposed brick and natural light from a central overhead skylight. The layout is designed for efficiency and hosting, and includes a dedicated conference room, a kitchen/bar, and two private bathrooms. The property is located in downtown Newburyport, near the waterfront, dining, and retail options. This suite offers a presence in a professional hub.
Key Highlights
- Prime downtown Newburyport location, steps from waterfront, dining, and retail.
- Spacious 2,201 SF office condo with high‑end modern updates.
- Unique historic character with exposed brick and abundant natural light from a central skylight.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.4k | $45.60 |
| − Vacancy | −$18.6k | −$8.44 |
| EGI | $81.8k | $37.16 |
| − OpEx | −$20.4k | −$9.29 |
| NOI | $61.3k | $27.87 |
2,201 SF · lease $45.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$876.4K
$766.9K – $1.02M
NOI $61,348 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,209 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - 2,201 SF office condo with modern updates and historic charm.
Where is this office units located?
The property is located at 1 Harris #5 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: Prime downtown Newburyport location, steps from waterfront, dining, and retail.; Spacious 2,201 SF office condo with high‑end modern updates.; Unique historic character with exposed brick and abundant natural light from a central skylight.
