Historic Waterfront Mixed-Use
45 Water Street, Newburyport, MA 01950
For Sale
$5,200,000
Two connected buildings offer finished commercial space, on-site parking, and harbor views within a walkable downtown setting.
Property Size9,285 SF
Price / SF$560.04
Days on Market94
Property Features for 45 Water Street
General Information
Standard status
Size
Property subtype
Lease Term
Additional Details
Asking Price
Building Details
Year Built
Buildings
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Lynne Hendricks
(978) 518-7369
Source:
Littlefieldre
Added: Aug 8
Changed: Nov 8
Last Checked: Nov 8 at 6:38AM
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 Gibson Sotheby's International Realty
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Investment Insights
Based on property information with market context.
The offering combines 45 and 47 Water Street as a two-building mixed-use property. The 1822 Clock Tower Building at 45 Water Street provides approximately 9,300 sq. ft. of finished space, a brick exterior, period architectural details, on-site parking, and a fourth-floor balcony. The adjoining 47 Water Street building was constructed in 1970 and extends toward the Clipper City Rail Trail, adding a larger footprint to the assemblage.
The property occupies a waterfront position with views across the harbor, including the marina, Custom House, Harbormaster’s office, Waterfront Park, Gillis Bridge, and Plum Island. The upper floors of 45 Water Street provide elevated harbor outlooks, while the surrounding downtown offers access to restaurants, cafés, cultural destinations, and the waterfront. Both buildings are being offered together.
The property occupies a waterfront position with views across the harbor, including the marina, Custom House, Harbormaster’s office, Waterfront Park, Gillis Bridge, and Plum Island. The upper floors of 45 Water Street provide elevated harbor outlooks, while the surrounding downtown offers access to restaurants, cafés, cultural destinations, and the waterfront. Both buildings are being offered together.
Key Highlights
- Two‑building mixed‑use assemblage at 45 and 47 Water Street
- 1822 Clock Tower Building with approximately 9,300 sq. ft. of finished space
- Adjoining warehouse building constructed in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$188,021
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,760,420
$3.8M
Cap Rate 7%
$2,686,014
$2.7M
Cap Rate 9%
$2,089,122
$2.1M
Market Conditions
NOI Build-Up for 9,285 SF
Gross rent
$334.3K $36.00/SF
− Vacancy
−$33.4K −$3.60/SF
EGI
$300.8K $32.40/SF
− OpEx
−$112.8K −$12.15/SF
NOI
$188.0K $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 Rate 5%
$3,760,420
Cap Rate 7%
$2,686,014
Cap Rate 9%
$2,089,122
Alternative Uses
Best Use
Mixed Use
$2.69M
$2.35M – $3.13M
NOI $188,021 @ 7.0% cap · market cap 3.62%
Second Best
Warehouse
$1.73M
$1.51M – $2.02M
NOI $121,197 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$5.50M
$4.81M – $6.41M
NOI $384,768 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
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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
$792,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Essex County, MA
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected buildings offer finished commercial space, on-site parking, and harbor views within a walkable downtown setting.
Where is this mixed-use property located?
The property is located at 45 Water Street Newburyport, MA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Two‑building mixed‑use assemblage at 45 and 47 Water Street; 1822 Clock Tower Building with approximately 9,300 sq. ft. of finished space; Adjoining warehouse building constructed in 1970
