Updated Second-Floor Office
For Sale
$995,000
One Harris St Unit 6, Newburyport, MA 01950
Professional office condominium in a downtown building near restaurants, retail, and the waterfront.
Property Size2,721 SF
Price / SF$365.67
Days on Market195
Property Features for One Harris St Unit 6
General Information
Standard status
Active
Size
2,721 SF
Class
B
Property subtype
Single Tenant Office
Additional Details
Floor
2
Office Units
1
Building Details
Building Size
2,721 SF
Year Built
1950
Buildings
1
Tenancy
Single
Properties For Sale
at One Harris St Unit 6 Contact us- Size
- 2,721 SF
- Lease Type
- NNN
One Harris St, Unit 6
Listing Agency:
KW Commercial | Inglewood
(978) 269-5445
Listed By:
Janet Faulkner · License #9516868
(978) 269-5445
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 4:36PM
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 KW Commercial | Inglewood
Investment Insights
Based on property information with market context.
This second-floor office condominium offers 2,721sf within One Harris St Professional Office Building. The suite has undergone updates and renovations, with quality finishes incorporated throughout the interior. Built in 1950, the property provides a professional setting for office occupancy in a dedicated commercial building.
The unit is located at One Harris St, Unit 6, in downtown Newburyport. Restaurants, retail, neighboring professional offices, and the historic Newburyport waterfront are all within easy walking distance. The suite is subject to an NNN lease structure, with the tenant responsible for NNN expenses in addition to base rent.
The unit is located at One Harris St, Unit 6, in downtown Newburyport. Restaurants, retail, neighboring professional offices, and the historic Newburyport waterfront are all within easy walking distance. The suite is subject to an NNN lease structure, with the tenant responsible for NNN expenses in addition to base rent.
Key Highlights
- 2,721sf second‑floor office condominium
- Updated interior with renovations and quality finishes
- Located in One Harris St Professional Office Building
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
$75,842
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
7.62%
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%
$1,516,840
$1.5M
Cap Rate 7%
$1,083,457
$1.1M
Cap Rate 9%
$842,689
$842.7K
Market Conditions
NOI Build-Up for 2,721 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
$124.1K $45.60/SF
− Vacancy
−$23.0K −$8.44/SF
EGI
$101.1K $37.16/SF
− OpEx
−$25.3K −$9.29/SF
NOI
$75.8K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,516,840
Cap Rate 7%
$1,083,457
Cap Rate 9%
$842,689
Alternative Uses
Best Use
Office B
$1.08M
$948.0K – $1.26M
NOI $75,842 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,758 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
509
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condominium in a downtown building near restaurants, retail, and the waterfront.
Where is this office units located?
The property is located at One Harris St Unit 6 Newburyport, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,721sf second‑floor office condominium; Updated interior with renovations and quality finishes; Located in One Harris St Professional Office Building
