Tenanted Retail Building with
For Sale
$775,000
92 Pleasant St. A, Newburyport, MA 01950
Retail building with 1,720 sq ft and a current tenant under a 5-year lease with extensions.
Property Size1,720 SF
Price / SF$450.58
Days on Market69
Property Features for 92 Pleasant St. A
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,178
Building Details
Building Size
1,720 SF
Year Built
1921
Listing Agency:
eXp Realty LLC
Listed By:
Frank Bertolino · License #9550382
(978) 270-0365
Source:
Elliman
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 7 at 6:19AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Located at 92 Pleasant St. A in Newburyport, this retail building offers 1,720 sq. ft. and is currently occupied by a tenant. The tenant is in place on a 5-year lease with extensions, and the lease includes yearly lease rate bumps.
Set in the heart of Historic Newburyport, the property benefits from a downtown setting with high visibility and foot traffic. The immediate area is described as surrounded by thriving local businesses, restaurants, and waterfront amenities. Walkability and bikeability are reflected by a walkScore of 76 (very walkable) and a bikeScore of 56 (bikeable).
Set in the heart of Historic Newburyport, the property benefits from a downtown setting with high visibility and foot traffic. The immediate area is described as surrounded by thriving local businesses, restaurants, and waterfront amenities. Walkability and bikeability are reflected by a walkScore of 76 (very walkable) and a bikeScore of 56 (bikeable).
Key Highlights
- 1,720 sq ft commercial retail building built in 1921
- Current tenant has a 5‑year lease with extensions
- Yearly lease rate bump included in the lease terms
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
$28,260
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
3.65%
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%
$565,200
$565.2K
Cap Rate 7%
$403,714
$403.7K
Cap Rate 9%
$314,000
$314.0K
Market Conditions
NOI Build-Up for 1,720 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
$41.3K $24.00/SF
− Vacancy
−$908 −$0.53/SF
EGI
$40.4K $23.47/SF
− OpEx
−$12.1K −$7.04/SF
NOI
$28.3K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$565,200
Cap Rate 7%
$403,714
Cap Rate 9%
$314,000
Alternative Uses
Best Use
Retail
$403.7K
$353.3K – $471.0K
NOI $28,260 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,276 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Garden Imprint — 11 Norman Ave, Newburyport, MA 01950
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building with 1,720 sq ft and a current tenant under a 5-year lease with extensions.
Where is this storefront property located?
The property is located at 92 Pleasant St. A Newburyport, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 1,720 sq ft commercial retail building built in 1921; Current tenant has a 5‑year lease with extensions; Yearly lease rate bump included in the lease terms
