Flex Space with Office
65 Parker #1, Newburyport, MA 01950
For Sale
Contact for pricing
Pending
I-1 zoning and a dedicated office area complement the property's warehouse configuration.
Property Size2,236 SF
Days on Market50
Property Features for 65 Parker #1
General Information
Standard status
Size
Zoning
Warehouse & Industrial
Drive-In Doors
Sprinkler System
Amenities
kitchenette
roof top unit (RTU) providing heating and cooling
50-gallon hot water heater
vinyl plank flooring
¾ bath
mop sink
Building Details
Year Built
Stories
Construction
Listing Agency:
Laffely Real Estate Associates
(978) 255-4788
Listed By:
Sally Laffely · License MA #9011465
(978) 375-1821
Source:
Lockandkeyre
Added: Sep 24
Changed: Nov 12
Last Checked: Nov 12 at 8:02AM
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 Laffely Real Estate Associates
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Investment Insights
Based on property information with market context.
At 65 Parker Street, Unit 1, this 2,236-square-foot flex property combines warehouse area with a second-floor office buildout. The first floor has a concrete slab, more than 17 feet of ceiling height, and a 10-by-10-foot garage door. Concrete block construction and a full sprinkler system are also in place. The upper level includes three offices and two additional unheated rooms suited to storage. A three-quarter bath, mop sink, and kitchenette round out the interior. Heating is provided by natural gas Reznor units and a rooftop system that also supplies cooling; the property has a 50-gallon water heater and vinyl plank flooring.
The property is zoned I-1 and dates to 1988. It is adjacent to the MBTA train station and a short distance from downtown Newburyport. On-site parking is available.
The property is zoned I-1 and dates to 1988. It is adjacent to the MBTA train station and a short distance from downtown Newburyport. On-site parking is available.
Key Highlights
- 2,236 SF of flex space, built in 1988
- I‑1 zoning
- 10' x 10' garage bay door and first‑floor ceiling height exceeding 17'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,910
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,200
$478.2K
Cap Rate 7%
$341,571
$341.6K
Cap Rate 9%
$265,667
$265.7K
Market Conditions
NOI Build-Up for 2,236 SF
Gross rent
$36.0K $16.08/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$34.2K $15.28/SF
− OpEx
−$10.2K −$4.58/SF
NOI
$23.9K $10.69/SF
Area
Essex County, MA
Vacancy
5.00%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,200
Cap Rate 7%
$341,571
Cap Rate 9%
$265,667
Alternative Uses
Best Use
Flex RnD
$557.3K
$487.7K – $650.2K
NOI $39,012 @ 7.0% cap
Second Best
Warehouse
$416.9K
$364.8K – $486.4K
NOI $29,186 @ 7.0% cap
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,659 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Under-served
Demand for This Use
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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 Flex space in Essex County, MA
Properties on Market for Flex space in Essex County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - I-1 zoning and a dedicated office area complement the property's warehouse configuration.
Where is this flex space located?
The property is located at 65 Parker #1 Newburyport, MA.
What are key features of this property?
This property features: 2,236 SF of flex space, built in 1988; I‑1 zoning; 10' x 10' garage bay door and first‑floor ceiling height exceeding 17'
