Six-Suite Waterfront Retail
150 Water Street, Plymouth, MA 02360
For Sale
$3,999,000
Ground-floor commercial condominium beneath a boutique hotel, private residences, and a rooftop restaurant.
Property Size8,863 SF
Price / SF$451.20
Days on Market101
Property Features for 150 Water Street
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Amenities
Fully occupied six-unit commercial condo with virtually no landlord responsibilities
Ground floor retail in a building that also houses a boutique waterfront hotel and an upscale rooftop restaurant
Annual three percent rent increases for every tenant provide a strong hedge against inflation and consistent appreciation in both cash flow and value
Exceptional income stability with a WALT of more than three years
Market and below-market rents deliver durable income stream with upside
Located in the heart of one of the most walkable town centers in the state
Steps from several historical attractions visited by over 1.5 million tourists a year
Affluent community boasts an AHHI of at least $135,000 within five miles of the property
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Marcus & Millichap - Boston
Listed By:
Adam Cohen
(617) 896-7243
Source:
Marcusmillichap
Added: Aug 2
Changed: Nov 6
Last Checked: Nov 8 at 2:12AM
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 Marcus & Millichap - Boston
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Investment Insights
Based on property information with market context.
This 8,863-square-foot commercial condominium contains six ground-floor retail suites at 150 Water Street. Built in 2021, the property occupies the lower level of a mixed-use building with a boutique waterfront hotel, private residences, and a 300-seat rooftop restaurant on the upper floors.
The asset is positioned within Plymouth’s historic waterfront district, near Plymouth Rock, Mayflower II, Town Wharf, and a concentration of restaurants, boutiques, galleries, and hospitality venues. Water Street frontage places the retail component within downtown Plymouth, which attracts approximately 1.5 million visitors annually. The property also benefits from a surrounding population of approximately 55,000 residents within a five-mile radius, combining local and seasonal customer activity in a walkable waterfront setting.
The asset is positioned within Plymouth’s historic waterfront district, near Plymouth Rock, Mayflower II, Town Wharf, and a concentration of restaurants, boutiques, galleries, and hospitality venues. Water Street frontage places the retail component within downtown Plymouth, which attracts approximately 1.5 million visitors annually. The property also benefits from a surrounding population of approximately 55,000 residents within a five-mile radius, combining local and seasonal customer activity in a walkable waterfront setting.
Key Highlights
- Six ground‑floor retail suites in a commercial condominium
- 8,863 SF of retail space
- Built in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,623
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,912,460
$2.9M
Cap Rate 7%
$2,080,329
$2.1M
Cap Rate 9%
$1,618,033
$1.6M
Market Conditions
NOI Build-Up for 8,863 SF
Gross rent
$212.7K $24.00/SF
− Vacancy
−$4.7K −$0.53/SF
EGI
$208.0K $23.47/SF
− OpEx
−$62.4K −$7.04/SF
NOI
$145.6K $16.43/SF
Area
Plymouth County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,912,460
Cap Rate 7%
$2,080,329
Cap Rate 9%
$1,618,033
Alternative Uses
Best Use
Retail
$2.08M
$1.82M – $2.43M
NOI $145,623 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.25M
$4.59M – $6.12M
NOI $367,280 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Plymouth County, MA
Properties on Market for Retail space in Plymouth County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Ground-floor commercial condominium beneath a boutique hotel, private residences, and a rooftop restaurant.
Where is this retail space located?
The property is located at 150 Water Street Plymouth, MA.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: Six ground‑floor retail suites in a commercial condominium; 8,863 SF of retail space; Built in 2021
