5 North Water Street

Nantucket, MA 02554

$12,995,000
Price
5
Beds
4
Baths
7
1/2 Baths
9,093 Sq. Ft.
$1,429 / Sq. Ft.
9,093
Sq. Ft.
$1,429
per Sq. Ft.

Description

An amazing canvas for creative visionaries to bring something new to Downtown. With two buildings on an oversized corner lot, there is significant infrastructure in place to accelerate the next project. A unique opportunity to re-develop a prime piece of Nantucket commercial real estate. Approximately 7186 sqft of finished interior space in the existing theater building and 1,907 sqft of finished interior space in the antique house. There are a multitude of complementing mixed use options to consider...An amazing canvas for creative visionaries to bring something new to Downtown. With two buildings on an oversized corner lot, there is significant infrastructure in place to accelerate the next project. A unique opportunity to re-develop a prime piece of Nantucket commercial real estate. Approximately 7186 sqft of finished interior space in the existing theater building and 1,907 sqft of finished interior space in the antique house. There are a multitude of complementing mixed use options to consider here. Some allowable uses in CDT: residential, retail, restaurant/bar/tavern, hotel, personal services, spa, offices, gallery, bakery & market. Condominium eligible.
  1. Listed by Carolyn Durand • Lee Real Estate

Property Details for 5 North Water Street

Zoning
CDT
View
None, Twn
LISTING UPDATED: 09/10/2024 01:37 PM

Property Details for 5 North Water Street

StatusActive
MLS #91229
Days on Market174
Taxes$43,468 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS Type1 Family / Single Family Residence
Year Built1850
Lot Size0.19 AC / 8,070 SF
CountyNantucket County

Building Information for 5 North Water Street

Stories-Year Built1850Building Size-Lot Size0.19 AC / 8,070 SF

Property Information for 5 North Water Street

Summary
Location and General Information
  • Latitude: 41.285856
  • Longitude: -70.099362
  • Listing ods: Patio, Porch
  • MLS Area Major: Town
Taxes and HOA Information
  • Tax Assessed Value: $5,599,800.00
  • Tax Lot: -
  • Tax Map Number: 42.4.2
  • Tax Other Annual Assessment Amount: $2,601,700.00
  • Tax Year: 2024
Property
Lot Information
  • Lot Features: Brick courtyard
  • Property Type: 1 Family
Property and Assessments
  • Possible Use: Pl Bk 10, pg 49
  • Parcel Number: 88
  • Photos Count: 12
  • Deed No: 1475
  • Approval Status: -1
  • Reviewed: Yes
Utilities
  • Sewer: Twn
  • Utilities: Cbl
  • Water Source: Well
Interior and Exterior Features
Exterior Features
  • Basement: The basement space was engineered with a coffer dam and heated slab. There are three separate bathroom facilities in the basement with two generous dressing rooms. The rehearsal space is a great mulitipurpose room. There is an access to "backstage" and a utility room with mechanicals and elevator control room.
  • Exterior Features: Patio, Porch
  • Frontage Type: None
Interior Features
  • Foundation Details: Engineered foundation with cofferdam
  • Main Level Bedrooms: 0
  • Other Structures: Brick walkway from North Water street to a generous courtyard. A second brick walkway leads from Whaler's Lane to the side of the theatre buiding off Whaler's Lane. There is a commercial grade elevator from basement to mezzanaine level. *1000 amp electrical service, commercial sprinkler system, security system and extensive theatre stage, lighting and sound equipment.
  • Rooms Total: 19
  • Fireplace: No
  • Flooring: wood and concrete
  • Furnished: Unfurnished
  • Heating: OFHW
  • Interior Features: A,AC,Ins,Irr, Floor 1: The theatre building was completed in 2016 with an intimate stage inside a voluminous three story building. The design was conceived as a Maritime Wharehouse with oversized doors that open into the courtyard from inside the theatre. The lobby is a spacious and light filled reception area with windows on Whalers Lane and doors to the courtyard. The side wing has stairs up to the office and down to the full basement. Within the theatre there are nine elevating rows of seating to view the stage. There is a side exit/entry door at the foot of the stage that opens to the side alley with brick walkway. An upper tier door opens to the staircase landing in the cathedral vaulted foyer space. Accessible half bath and elevator., Floor 2: Accessed by the open staircase in the vaulted foyer, the mezzanine level houses the tech booth for sound and lighting control. There are also two tiers of seating here. In the other wing of the building there is an office accessed by separate stairs.

Property History for 5 North Water Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5 North Water Street

Taxable ValueLand$2,601,700Additions$5,599,800Total$8,201,500
Tax Record2020$37,666 ($3,139 / month)
Home Facts
Total Finished SqFt6,196 SqFtAbove Grade Finished SqFt6,196 SqFtStories2Lot Size7,405 SqFtStyleMiscellaneous CommercialYear Built1850ZoningCDTCountyNANTUCKETAPNNANT M:04242 P:00088

Schools near 5 North Water Street

This home is within Nantucket School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 6 to 8
Public - 9 to 12
Public - 3 to 5
Rating
School
Distance
Nantucket Elementary School
PublicPK to 2

Cyrus Peirce
Public6 to 8

Nantucket High School
Public9 to 12

Nantucket Intermediate School
Public3 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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5 North Water Street is a single family home for sale in Nantucket, MA 02554. This property was listed for sale on June 10, 2024 by Lee Real Estate, it's currently listed at $12,995,000. This listing's school district is Nantucket School District. Nearby schools include Nantucket Elementary School, Cyrus Peirce and Nantucket High School. 5 North Water Street is a 5-bed, 7.5-bath, 9,093 sqft single family home built in 1850.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lee Real Estate, Carolyn Durand

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.