Triplex with Rooftop
54-56 Lime St, Newburyport, MA 01950
For Sale
$2,399,000
Three residential units provide a multifamily configuration in Newburyport’s South End.
Property Size5,840 SF
Price / SF$410.79
Days on Market15
Property Features for 54-56 Lime St
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
rooftop deck
air conditioning
Full,Partially Finished,Interior Entry,Concrete,Unfinished
Wood,Tile,Carpet,Hardwood
1
Yes
5
6
Skylight(s),Screens
Measured
12
Wood Burning
Pantry,Walk-Up Attic,Storage,Walk-In Closet(s),Bathroom with Shower Stall,Bathroom With Tub & Shower,Stone/Granite/Solid Counters,Upgraded Cabinets,Bathroom With Tub,Living Room,Dining Room,Kitchen,L
4730
1110
No
Fenced/Enclosed,Fenced
Corner Lot,Level
Public
0.11
Off Street
Paved
Balcony/Deck,Garden,Stone Wall
Stone
5840
Public Maintained Road
Building Details
Building Size
Year Built
Stories
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Lynne Hendricks
(978) 518-7369
Source:
Jrpierre
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 8 at 5:49PM
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 three-unit residential property contains 4,730 square feet of living area, with 5,840 square feet including the finished lower level. The layout includes five bedrooms and five bathrooms, and the building has updated systems and air conditioning throughout. A rooftop deck is shared by two of the units.
The property occupies a 0.11-acre corner lot at 54-56 Lime St in Newburyport’s South End. From the deck, views extend over downtown, South Church, Newburyport Harbor, and Plum Island Sound. Zoning is R3.
The property occupies a 0.11-acre corner lot at 54-56 Lime St in Newburyport’s South End. From the deck, views extend over downtown, South Church, Newburyport Harbor, and Plum Island Sound. Zoning is R3.
Key Highlights
- Three‑unit residential property with five bedrooms and five bathrooms
- 4,730 square feet of living area; 5,840 square feet including finished lower level
- Rooftop deck shared by two units, with views of downtown, South Church, Newburyport Harbor, and Plum Island Sound
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,382
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,640
$2.0M
Cap Rate 7%
$1,405,457
$1.4M
Cap Rate 9%
$1,093,133
$1.1M
Market Conditions
NOI Build-Up for 5,840 SF
Gross rent
$147.2K $25.20/SF
− Vacancy
−$6.6K −$1.13/SF
EGI
$140.5K $24.07/SF
− OpEx
−$42.2K −$7.22/SF
NOI
$98.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,640
Cap Rate 7%
$1,405,457
Cap Rate 9%
$1,093,133
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,382 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,805 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$3.46M
$3.03M – $4.03M
NOI $242,008 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,514
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
$792,400
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Essex County, MA
Properties on Market for Triplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide a multifamily configuration in Newburyport’s South End.
Where is this triplex located?
The property is located at 54-56 Lime St Newburyport, MA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Three‑unit residential property with five bedrooms and five bathrooms; 4,730 square feet of living area; 5,840 square feet including finished lower level; Rooftop deck shared by two units, with views of downtown, South Church, Newburyport Harbor, and Plum Island Sound
