76 Summer St
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76 Summer St
10,644 SF 100% Leased Office Building Manchester By The Sea, MA 01944 $3,114,182 CAD ($293 CAD/SF) 5% Cap Rate
Investment Highlights
- Commercial Office Building 2/10 mile from Manchester Center and Train
- 19+ parking spaces
- Multiple potential uses - potential to redevelop into Luxury condo or short/long term apartments.
Executive Summary
This is a rare offering of an office building, situated on 16,200 sf with more than 19 parking spaces, located just 2/10 of a mile from the town center and the commuter rail. The property provides many potential investment opportunities including, subject to town approval, multiple luxury condominiums, an apartment building for short or long-term rentals, or remaining as is. Architectural plans and renderings for potential luxury condominiums have been produced and are available. In its current use, the owner estimates future annual total rents of $156,000. The building’s floor plan is highly adaptable to suit various office needs, while the large unfinished lower level provides substantial space to lease for storage, shipping, or workshops. With the potential for both immediate income and redevelopment this is an outstanding opportunity for investors and developers to capitalize on a prime location in Manchester.
Financial Summary (Pro forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$221,125
|
$24.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$221,125
|
$24.18
|
| Taxes |
$15,784
|
$1.73
|
| Operating Expenses |
$19,419
|
$2.12
|
| Total Expenses |
$35,203
|
$3.85
|
| Net Operating Income |
$185,922
|
$20.33
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $221,125 |
| Annual Per SF | $24.18 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $221,125 |
| Annual Per SF | $24.18 |
| Taxes (CAD) | |
|---|---|
| Annual | $15,784 |
| Annual Per SF | $1.73 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $19,419 |
| Annual Per SF | $2.12 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $35,203 |
| Annual Per SF | $3.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $185,922 |
| Annual Per SF | $20.33 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
10,644 SF
Building Class
C
Year Built
1900
Price
$3,114,182 CAD
Price Per SF
$293 CAD
Cap Rate
5%
NOI
$155,709 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
3,548 SF
Building FAR
0.66
Lot Size
0.37 AC
Zoning
G - General District
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PROPERTY TAXES
| Parcel Number | MANC-000047-000000-000008 | Total Assessment | $1,669,785 CAD (2024) |
| Land Assessment | $513,877 CAD (2024) | Annual Taxes | $15,784 CAD ($1.48 CAD/SF) |
| Improvements Assessment | $1,155,908 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
MANC-000047-000000-000008
Land Assessment
$513,877 CAD (2024)
Improvements Assessment
$1,155,908 CAD (2024)
Total Assessment
$1,669,785 CAD (2024)
Annual Taxes
$15,784 CAD ($1.48 CAD/SF)
Tax Year
2025
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76 Summer St
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