Restaurant Condo with Full
New
For Sale
$995,000
140 High Unit 1, Newburyport, MA 01950
Furnished first-floor space has a full kitchen, seating for diners, and assigned parking.
Property Size4,239 SF
Price / SF$234.73
Days on Market5
Property Features for 140 High Unit 1
General Information
Standard status
Active
Size
4,239 SF
Total Parking Spaces
2
Property subtype
Commercial
Space & Availability
Floor
Ground
Furnished
Yes
Restaurant
Seating Capacity
66
Equipment Included
Yes
Building Details
Year Built
1900
Listing Agency:
RE/MAX Partners
Listed By:
The Carroll Group
(978) 475-2100
Source:
Demakis
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 21 at 2:00AM
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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Investment Insights
Based on property information with market context.
This restaurant condominium provides 3,091 square feet of updated first-floor commercial space, plus 1,148 square feet of unfinished basement storage. The space is furnished with tables, chairs, and bar stools, and its full kitchen supports restaurant use. Seating is arranged for 66 guests.
The property is near downtown Newburyport and sits across from the Essex County Court House. Two assigned parking spaces are located behind the building, with street parking also available.
The property is near downtown Newburyport and sits across from the Essex County Court House. Two assigned parking spaces are located behind the building, with street parking also available.
Key Highlights
- 3,091‑square‑foot first‑floor commercial space
- 1,148 square feet of unfinished basement storage
- Restaurant furnishings include tables, chairs, and bar stools, plus a full kitchen
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
—
—
no second resolved use
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Hotels & Casinos 17%
Newburyport Bank
Shops & Services
3,646 visits/mo
0.1 miles
TD Bank
Shops & Services
3,099 visits/mo
0.2 miles
Essex Street Inn
Hotels & Casinos
1,538 visits/mo
0.2 miles
Safelite AutoGlass
Shops & Services
700 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Furnished first-floor space has a full kitchen, seating for diners, and assigned parking.
Where is this conventional restaurant located?
The property is located at 140 High Unit 1 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‑foot first‑floor commercial space; 1,148 square feet of unfinished basement storage; Restaurant furnishings include tables, chairs, and bar stools, plus a full kitchen
