Six-Unit Apartment
For Sale
$1,775,000
36 Market St, Newburyport, MA 01950
Renovated exterior and roof improvements support a well-maintained multifamily property near downtown amenities.
Property Size4,410 SF
Lot Size0.08 Acres
Price / SF$282.82
Days on Market72
Property Features for 36 Market St
General Information
Standard status
Active
Size
4,410 SF
Total Parking Spaces
6
Lot size
0.08 Acres
Property subtype
Multifamily
Units
Unit Mix
4 x 1BR/1BA, 2 x Studio
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$14,379
Building Details
Building Size
4,410 SF
Year Built
1800
Listing Agency:
Horvath & Tremblay
Listed By:
Stephen Girolamo
Source:
Classifiedrealtygroup
Added: Jun 20
Changed: Aug 29
Last Checked: Jun 25 at 12:39PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This apartment property includes six units: four one-bedroom, one-bath residences and two studios. The building provides 4,410 square feet of gross living area within 6,276 square feet of gross area, along with six off-street parking spaces on a 0.08-acre parcel. Originally built in 1800, the property has recently received exterior and roof renovations.
Located at 36 Market Street in downtown Newburyport, the building offers access to the central business district, waterfront amenities, and nearby historic residential neighborhoods. Residents pay gas heating and hot water costs, as well as separately metered electricity, directly. The landlord pays for city water and sewer.
Located at 36 Market Street in downtown Newburyport, the building offers access to the central business district, waterfront amenities, and nearby historic residential neighborhoods. Residents pay gas heating and hot water costs, as well as separately metered electricity, directly. The landlord pays for city water and sewer.
Key Highlights
- Four 1‑Bedroom/1‑Bathroom units and two Studio units
- 4,410 square feet of gross living area within 6,276 square feet of gross area
- Six off‑street parking spaces
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
$95,435
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
5.38%
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%
$1,908,700
$1.9M
Cap Rate 7%
$1,363,357
$1.4M
Cap Rate 9%
$1,060,389
$1.1M
Market Conditions
NOI Build-Up for 6,276 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
$180.7K $28.80/SF
− Vacancy
−$7.2K −$1.15/SF
EGI
$173.5K $27.65/SF
− OpEx
−$78.1K −$12.44/SF
NOI
$95.4K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,908,700
Cap Rate 7%
$1,363,357
Cap Rate 9%
$1,060,389
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,435 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.25M – $4.33M
NOI $260,076 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,957
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated exterior and roof improvements support a well-maintained multifamily property near downtown amenities.
Where is this apartment building located?
The property is located at 36 Market St Newburyport, MA.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Four 1‑Bedroom/1‑Bathroom units and two Studio units; 4,410 square feet of gross living area within 6,276 square feet of gross area; Six off‑street parking spaces
