Waterfront Mixed-Use
47 Water Street, Newburyport, MA 01950
For Sale
$2,800,000
Two complementary downtown buildings combine historic character, warehouse flexibility, harbor views, and on-site parking.
Property Size3,320 SF
Price / SF$843.37
Days on Market81
Property Features for 47 Water Street
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Building Details
Year Built
Buildings
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Lynne Hendricks
(978) 518-7369
Source:
Wilsonwolfe
Added: Aug 21
Changed: Nov 6
Last Checked: Nov 8 at 6:42AM
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.
This offering combines two waterfront buildings at 45 and 47 Water Street in Newburyport. The 1822 Clock Tower Building at 45 Water Street features a brick façade, period architectural detail, approximately 9,300 square feet of finished space, and on-site parking. Its upper floors include a fourth-floor balcony oriented toward the harbor. The adjacent 1970 warehouse at 47 Water Street extends toward the Clipper City Rail Trail and adds substantial complementary space.
The property occupies a prominent position along the working waterfront, with views toward the marina, Custom House, Harbormaster’s office, Waterfront Park, Gillis Bridge, and Plum Island. The two buildings are being offered together, creating a combined mixed-use property with historic character, modern warehouse scale, and direct downtown waterfront context.
The property occupies a prominent position along the working waterfront, with views toward the marina, Custom House, Harbormaster’s office, Waterfront Park, Gillis Bridge, and Plum Island. The two buildings are being offered together, creating a combined mixed-use property with historic character, modern warehouse scale, and direct downtown waterfront context.
Key Highlights
- Two waterfront buildings at 45 and 47 Water Street offered together
- 1822 Clock Tower Building with brick façade and period architectural detail
- Approximately 9,300 square feet of finished space at 45 Water Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,538
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,850,760
$1.9M
Cap Rate 7%
$1,321,971
$1.3M
Cap Rate 9%
$1,028,200
$1.0M
Market Conditions
NOI Build-Up for 3,320 SF
Gross rent
$151.4K $45.60/SF
− Vacancy
−$28.0K −$8.44/SF
EGI
$123.4K $37.16/SF
− OpEx
−$30.8K −$9.29/SF
NOI
$92.5K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,850,760
Cap Rate 7%
$1,321,971
Cap Rate 9%
$1,028,200
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.54M
NOI $92,538 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$960.4K
$840.4K – $1.12M
NOI $67,230 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,580 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two complementary downtown buildings combine historic character, warehouse flexibility, harbor views, and on-site parking.
Where is this mixed-use property located?
The property is located at 47 Water Street Newburyport, MA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two waterfront buildings at 45 and 47 Water Street offered together; 1822 Clock Tower Building with brick façade and period architectural detail; Approximately 9,300 square feet of finished space at 45 Water Street
