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29207573
29207574

65 Parker St, Newburyport, MA 01950

BC
MA MA 9564566-RE-S
Paramount Partners
SB
MA 9576643
Paramount Partners
Listed by Paramount Partners
Unpriced
147 days on market
Updated 26 days ago
Under Contract

65 Parker Street / Site 6, Newburyport, MA 01950

Details
Property Type Industrial, Office
Sub Type Executive Office, Flex (+1)
Square Footage 10,832
Net Rentable (SqFt) 10,832
Units 1
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 3
Lease Expiration 10/31/2026
Remaining Term 0.4
Rent Bumps Yes
Lease Options Two (2), Three-Year Options
Year Built 1996
Year Renovated 2013
Buildings 1
Stories 1
Zoning SGOD -A
Parking Spaces 21 spaces
Parking Per SqFt 1.94
Investment Type Value Add
Tenant Credit Credit Rated
Lease Commencement 10/31/2023

Value-Add Office Condo with Credit Tenant Upside

Marketing description

Paramount Partners is pleased to exclusively market for sale 65 Parker Street/Site 6, a commercial condominium located within the well-regarded Seacoast Business Park in Newburyport, Massachusetts.

65 Parker Street/Site6 is a well-maintained commercial condo featuring a modern office aesthetic and full ADA accessibility. The property is thoughtfully built out with four bathrooms, a fitness/gym area, kitchen space, and 21 dedicated parking spaces, offering functionality and flexibility for a wide range of users.

The property benefits from an exceptional location with convenient access to Routes1 and I-95, providing efficient regional connectivity. It is adjacent to the MBTA Commuter Rail, enhancing accessibility for employees and clients alike. The surrounding area supports a strong commercial ecosystem comprised of professional services, light industrial, and support businesses, while also enjoying proximity to downtown Newburyport’s restaurants, retail, and waterfront amenities.

The property is currently 100% occupied by Gallagher Insurance (NYSE: AJG). The existing lease expires on October 31, 2026. Gallagher has expressed interest in remaining at the property with a reduced footprint, presenting a near-term opportunity to re-tenant a portion of the space or restructure occupancy to meet ownership objectives.

65 Parker Street/Site 6 offers an exceptional opportunity for an owner/user seeking a strategic Newburyport location, or for an investor pursuing stable income with future leasing flexibility. The combination of strong tenancy, prime location, and adaptability positions the asset for both immediate cash flow and long-term value creation.

Investment highlights

PROPERTY HIGHLIGHTS:

  • Fully ADA Accessible

  • Sprinklered

  • Onsite Parking

  • Well-Maintained

  • High Upside

LOCATION HIGHLIGHTS:

  • Prime Newburyport Location within the Established Seacoast Business Park

  • Convenient Access to Route 1 and I -95

  • Serviced by Newburyport MBTA Commuter Rail Station

  • Proximity to Downtown Newburyport Retail and Waterfront Amenities

MARKET HIGHLIGHTS:

  • One of Massachusetts Most Desirable Communities

  • Strong Demographics

  • Household Income Well Above State Average

  • Strong Occupancy and Tenant Retention Rates

  • Amenity-Rich Market

Listing Contacts

BC
MA MA 9564566-RE-S
Paramount Partners
SB
MA 9576643
Paramount Partners
Listed by Paramount Partners

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$126,408.00
$10,534.00/mo

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Additional Information

Name
Brendan Coan
License
MA 9564566-RE-S
Brokerage
Paramount Partners
Brokerage Phone
6178455243
Brokerage Address
1266 Furnace Brook Parkway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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