Automotive Service and Storage
For Sale
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16 Perry Way, Newburyport, MA 01950
Multi-bay medium-duty truck service and indoor storage garage with multiple drive-in doors and full wet sprinkler system.
Property Size15,520 SF
Price / SF$0.00
Days on Market96
Property Features for 16 Perry Way
General Information
Standard status
Active
Size
15,520 SF
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
8
Power
200 amps
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Amenities
Floor drains and MDC trap
2000 gallon above ground diesel tank
Six 14'x14' drive-in doors (front) and two 14'x14' drive-in doors (rear)
Additional smaller bay at rear
Finished office area
ADA bathroom
Shop bathroom
Storage mezzanine
Two oil-fired hot air furnaces
Full HVAC in office
200 amp electrical service
Building Details
Year Built
2002
Listing Agency:
Minco Commercial
(978) 687-6200
Listed By:
Laurence Marocco · License #9009996
(978) 479-3137
Source:
Lockandkeyre
Added: Jul 26
Changed: Oct 29
Last Checked: Oct 28 at 8:25AM
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 Minco Commercial
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Investment Insights
Based on property information with market context.
This multi-bay service and storage garage is built for the indoor service and storage of medium-duty trucks. The shop includes floor drains and an MDC trap, plus a 2000-gallon above-ground diesel tank on site. At the front, there are six large 14' by 14' drive-in doors, with two additional at the rear, along with an additional smaller bay at the rear. A small finished office area includes one ADA bathroom, and the shop area includes an additional bathroom and a storage mezzanine above the office.
The property is listed as fully wet sprinklered and includes a 200-amp electrical service, two brand new oil-fired hot air furnaces, and full HVAC in the office. The facility is described as just minutes from both Routes 95 and 495.
The property is listed as fully wet sprinklered and includes a 200-amp electrical service, two brand new oil-fired hot air furnaces, and full HVAC in the office. The facility is described as just minutes from both Routes 95 and 495.
Key Highlights
- Multi‑bay medium‑duty truck service and indoor storage garage built in 2002
- Six 14' x 14' front drive‑in doors plus two drive‑in doors at the rear and an additional smaller rear bay
- 2000‑gallon above‑ground diesel tank on site, with floor drains and MDC trap
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,085
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,301,700
$3.3M
Cap Rate 7%
$2,358,357
$2.4M
Cap Rate 9%
$1,834,278
$1.8M
Market Conditions
NOI Build-Up for 15,520 SF
Gross rent
$249.6K $16.08/SF
− Vacancy
−$13.7K −$0.88/SF
EGI
$235.8K $15.20/SF
− OpEx
−$70.8K −$4.56/SF
NOI
$165.1K $10.64/SF
Area
Essex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,301,700
Cap Rate 7%
$2,358,357
Cap Rate 9%
$1,834,278
Alternative Uses
Best Use
Retail
$3.64M
$3.19M – $4.25M
NOI $255,000 @ 7.0% cap · market cap 1,961,538.46%
Second Best
Warehouse
$2.86M
$2.51M – $3.34M
NOI $200,460 @ 7.0% cap · market cap 1,542,000.00%
Theoretical Best
Office A
$9.19M
$8.04M – $10.72M
NOI $643,145 @ 7.0% cap · market cap 4,947,269.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Relics & Rust — 77 Parker St, Newburyport, MA 01950
- Jenner's Towing Service — 65 Parker St #3a, Newburyport, MA 01950
- Relics & Rust — 18 graf rd unit 24, newburyport, ma 01950
- Relics & Rust — 18 graf rd unit 24, newburyport, ma 01950
- Compass Auto Works — 6 New Pasture Rd, Newburyport, MA 01950
Frequently Asked Questions
What type of property is this?
Auto shop - Multi-bay medium-duty truck service and indoor storage garage with multiple drive-in doors and full wet sprinkler system.
Where is this auto shop located?
The property is located at 16 Perry Way Newburyport, MA.
What are key features of this property?
This property features: Multi‑bay medium‑duty truck service and indoor storage garage built in 2002; Six 14' x 14' front drive‑in doors plus two drive‑in doors at the rear and an additional smaller rear bay; 2000‑gallon above‑ground diesel tank on site, with floor drains and MDC trap
