Leased Storefront
For Sale
$775,000
92 Pleasant St. # A, Newburyport, MA 01950
Occupied storefront with a five-year lease, extension options, and annual lease-rate increases.
Property Size1,720 SF
Price / SF$450.58
Days on Market54
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
(404) 689-4408
Listed By:
The North Shore Realty Group · License #.
Source:
Donnellyandco
Added: Jun 25
Changed: Aug 13
Last Checked: Aug 16 at 3:51PM
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.
This 1,720-square-foot storefront property at 92 Pleasant St. # A was built in 1921 and is currently occupied under a five-year lease with extensions. The lease includes annual increases to the lease rate, providing a defined contractual structure for the existing tenancy.
The property is situated in downtown Newburyport, within a commercial setting that includes local businesses, restaurants, and waterfront amenities. Its location is also described as having high visibility and pedestrian activity, placing the storefront within an active coastal community environment.
The property is situated in downtown Newburyport, within a commercial setting that includes local businesses, restaurants, and waterfront amenities. Its location is also described as having high visibility and pedestrian activity, placing the storefront within an active coastal community environment.
Key Highlights
- 1,720‑square‑foot storefront property at 92 Pleasant St. # A
- Built in 1921
- Current tenant has a 5‑year lease with extensions
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,902
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Hotels & Casinos 17%
Home Improvements & Furnishings 9%
Newburyport Bank
Shops & Services
3,646 visits/mo
0.2 miles
TD Bank
Shops & Services
3,099 visits/mo
0.2 miles
Essex Street Inn
Hotels & Casinos
1,538 visits/mo
0.2 miles
Johnson Paint, a Ring's End Brand
Home Improvements & Furnishings
858 visits/mo
0.5 miles
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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- Jan Lorrey Flowers — Delivery and pick up at studio, 150 Merrimac St, Newburyport, MA 01950
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Frequently Asked Questions
What type of property is this?
Storefront property - Occupied storefront with a five-year lease, extension options, and annual lease-rate increases.
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‑square‑foot storefront property at 92 Pleasant St. # A; Built in 1921; Current tenant has a 5‑year lease with extensions
