Downtown Mixed-Use
For Sale
$859,000
14-16-18 Friend Street, Amesbury, MA 01913
Two vacant street-level commercial spaces plus a one-bedroom apartment leased through June 2027.
Property Size2,847 SF
Price / SF$301.72
Days on Market140
Property Features for 14-16-18 Friend Street
General Information
Standard status
Active
Size
2,847 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Matthew Blanchette
Source:
Kwevolution
Added: Apr 19
Changed: Sep 3
Last Checked: Sep 4 at 9:57AM
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 in the heart of downtown Amesbury, this mixed-use property includes two vacant street-level commercial spaces and a spacious one-bedroom apartment. The residential unit is leased through June 2027, providing established income within the building.
The property has benefited from substantial improvements over the years, including updates to major systems and utilities, along with window, siding, and fire safety component upgrades. With street-level frontage and a mix of commercial and residential space under one roof, the building offers flexibility for owners and investors seeking a downtown presence.
The configuration provides two distinct commercial spaces on the ground level while maintaining the separate, leased apartment above.
The property has benefited from substantial improvements over the years, including updates to major systems and utilities, along with window, siding, and fire safety component upgrades. With street-level frontage and a mix of commercial and residential space under one roof, the building offers flexibility for owners and investors seeking a downtown presence.
The configuration provides two distinct commercial spaces on the ground level while maintaining the separate, leased apartment above.
Key Highlights
- Mixed‑use building in downtown Amesbury with two vacant street‑level commercial spaces and a 1‑bedroom apartment
- 1‑bedroom apartment is leased through June 2027
- Building has updates to major systems and utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,652
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,153,040
$1.2M
Cap Rate 7%
$823,600
$823.6K
Cap Rate 9%
$640,578
$640.6K
Market Conditions
NOI Build-Up for 2,847 SF
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.
Gross rent
$102.5K $36.00/SF
− Vacancy
−$10.2K −$3.60/SF
EGI
$92.2K $32.40/SF
− OpEx
−$34.6K −$12.15/SF
NOI
$57.7K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,153,040
Cap Rate 7%
$823,600
Cap Rate 9%
$640,578
Alternative Uses
Best Use
Mixed Use
$823.6K
$720.7K – $960.9K
NOI $57,652 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$668.2K
$584.7K – $779.6K
NOI $46,777 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,979 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
10,188 visits/mo
0.4 miles
Dollar General
Shops & Services
4,283 visits/mo
0.4 miles
Newburyport Bank
Shops & Services
2,159 visits/mo
0.1 miles
Demographics for 01913, MA
17,366
Population
7,827
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
1,412
Density / Sq Mi
$100,599
Median Household Income
$60,627
Median Earnings
$1,573
Median Rent
$475,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two vacant street-level commercial spaces plus a one-bedroom apartment leased through June 2027.
Where is this mixed-use property located?
The property is located at 14-16-18 Friend Street Amesbury, MA.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Mixed‑use building in downtown Amesbury with two vacant street‑level commercial spaces and a 1‑bedroom apartment; 1‑bedroom apartment is leased through June 2027; Building has updates to major systems and utilities
