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    33 Main St Nantucket, MA 02554

    Sponsored
    For Sale
    $9,500,000

    Historic Nantucket mixed-use gem, high NOI.

    Property size:
    4,799 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 33 Main Street in the heart of Nantucket, MA, presents a rare investment opportunity. The three-story, 4,799 square foot building, constructed in 1847 and extensively renovated in 2009, 2015, and 2021, boasts a prime corner location at Main and Federal Streets. The property features approximately 1,256 square feet of ground-floor retail space with 14-foot ceilings and three points of egress, currently leased to Hill House Home. A matching sub-grade retail space of 1,256 square feet is also available, offering additional retail potential. A 628 square foot second-floor office unit, also leased to Hill House Home, provides versatile space. Completing the offering is a 1,031 square foot, one-bedroom apartment on the third floor, ideal for employee housing or seasonal rental. The building includes central HVAC, a sprinkler system, and an elevator. The property sits on a 0.03-acre lot and is zoned CDT. Currently operating at 100% occupancy with two tenants, the property generates a Net Operating Income (NOI) of $500,000, representing a 5.26% cap rate. Leases have a remaining term of 4.1 years, expiring December 31, 2028, with 3% annual rent bumps. The asking price is $9,500,000, translating to $1,979.58 per square foot. This turn-key investment offers significant upside potential in a highly desirable location.

    Property Features for 33 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,799 SF
    Lot Size
    1,307 SF

    Building Details

    Year Built/Renovated
    1847/2009
    Buildings
    1
    Stories
    3
    Units
    4

    HighLights

    • 1,256+/- SF ground floor retail space with 14' ceilings.
    • Matching 1,256+/- SF lower‑level retail space.
    • 628+/- SF second‑floor office space.
    • 1,031+/- SF third‑floor one‑bedroom apartment.
    • Central HVAC, sprinkler system, and elevator.
    • Cash‑flow positive property suitable for a 1031 exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Magellan Jets Airline Hill House Home Women'S Clothing Store Flight King Charter ... Aircraft Rental Service The Diamond Door Nantucket Jewelry Store Nantucket Psychic Psychic

    Suggested Use

    Restaurant Realty agency Spa & Massage Wholesale Shop Grocery Store Food Market Hotel & Motel Wine and Liquor Store Bed & Breakfast Bookstore

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nantucket
    County
    Nantucket
    State
    Massachusetts
    Longitude
    -70.098621594805
    Latitude
    41.283486179277

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    FAQs

    What type of property is this?
    Individual retail property - Historic Nantucket mixed-use gem, high NOI.
    Where is this individual retail property located?
    The property is located at 33 Main St Nantucket, MA.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: 1,256+/- SF ground floor retail space with 14' ceilings.; Matching 1,256+/- SF lower-level retail space.; 628+/- SF second-floor office space.
    Request Owner's contact information
    33 Main St Nantucket, MA 02554
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    33 Main St Nantucket, MA 02554
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