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47 S Main St
Ipswich, MA 01938
Retail Property For Sale
Investment Highlights
- Prime downtown Ipswich location with strong foot traffic
- Value-add potential through future rent growth and repositioning
- Mixed-use asset: ground-floor retail + four office suites
Executive Summary
Downtown Ipswich mixed-use opportunity. 47 South Main Street is ideally located in the heart of Ipswich overlooking the Ipswich River and surrounded by shops, restaurants, and strong foot traffic. The property, built in 1950, features a large ground-level retail space with four offices above, offering flexibility for both investors and owner-users. Currently leased, the property provides immediate income with future upside potential. Ideal for an owner-occupant seeking a prominent retail location with additional rental income, or an investor looking for a well-located asset in a high-demand market. Convenient access to Route 1A and the Ipswich MBTA commuter rail.
Property Facts In Escrow
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,623 SF
Building Class
B
Year Built
1950
Price
$950,000
Price Per SF
$110.17
Cap Rate
4.02%
NOI
$38,220
Percent Leased
72%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.20 AC
Zoning
CB
Frontage
39’ on S Main St
Amenities
- Signage
Property Taxes
| Parcel Number | IPSW-000042A-000172 | Improvements Assessment | $573,800 |
| Land Assessment | $313,600 | Total Assessment | $887,400 |
Property Taxes
Parcel Number
IPSW-000042A-000172
Land Assessment
$313,600
Improvements Assessment
$573,800
Total Assessment
$887,400
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