DOWNTOWN NEWBURYPORT—TURNKEY, INCOME-PRODUCING, WITH FLEXIBILITY AND UPSIDE.

Located in the heart of downtown, 32 Market Street offers a rare opportunity to own a multi, 11- unit asset just steps from the waterfront, restaurants, shops, and everything that defines Newburyport living.

Currently operated as a furnished rental property, the property delivers a strong in-place income stream with consistent demand driven by its unbeatable location. The existing setup provides immediate cash flow, while still offering meaningful upside for investors looking to optimize operations or increase returns over time.

Thoughtfully maintained and improved, the property spans 5,903 square feet and features durable Hardie Plank siding, reflecting ongoing care and investment. Numerous upgrades enhance both functionality and long-term ownership appeal, minimizing near-term capital needs.

Future Potential - With its scale and positioning, the property lends itself to a variety of strategies—continue as a high-performing rental, explore a boutique inn concept, or evaluate the possibility of condominium conversion. Buyers to perform their own due diligence regarding zoning, permitting, and feasibility.

This is a versatile downtown asset that works on multiple levels—income today, optionality tomorrow, and long-term appreciation in one of the North Shore’s most supply-constrained markets.

INVESTMENT HIGHLIGHTS

• Strong in-place income with current NOI of $193,295 (~6.0% cap rate)
• Turnkey, well-maintained asset with significant upgrades completed
• Additional upside potential through rent optimization or repositioning
• 5,903 SF building with durable, low-maintenance Hardie Plank exterior
• Prime downtown Newburyport location with consistent rental demand
• Flexible future use potential including boutique inn or condo conversion (buyer due diligence required)

PROPERTY SNAPSHOT

Offered at: $3,200,000
Units: 11
Square Footage: 5,903 SF
Current Net Operating Income (NOI): Approximately $193,295
In-Place Cap Rate: ~6.0%

Full financial package available upon request for qualified buyers. Buyers to perform their own due diligence. 

**interior photos are representative of a selection of the 11 apartments included, and have been edited with AI.