Mixed-Use Building on Main
For Sale
$2,089,000
100-102 Main St, Gloucester, MA 01930
Mixed-use building with retail and residential units in Gloucester, MA.
Property Size8,068 SF
Price / SF$258.92
Days on Market469
Property Features for 100-102 Main St
General Information
Standard status
Active
Size
8,068 SF
Taxes and HOA fees
Annual Taxes
$11,350
Building Details
Year Built
1905
Listing Agency:
Churchill Properties
(978) 515-7031
Listed By:
Bethany Pratt
Source:
Corcoran
Added: May 19, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Churchill Properties
Investment Insights
Based on property information with market context.
This mixed-use building, situated among shops and restaurants on Main Street, features two retail stores and three residential apartments, all currently leased. The residential units showcase architectural details such as exposed brick, oversized windows, tall wooden-beamed ceilings, recessed lighting, and central air, complemented by harbor and ocean views. The property includes a single-level luxury apartment on the second floor, spanning over 2000 square feet and featuring a large granite kitchen. Additionally, there are two townhouse units, each approximately 1350 square feet, occupying the third and fourth floors. The property is located approximately 1/10 mile from Gloucester Harbor and a public beach. The building has a total size of 8068 square feet.
Key Highlights
- Mixed‑use building with two retail stores and three residential apartments, all currently leased, offering immediate income.
- Prime location on Main Street among busy shops and restaurants.
- Luxury 2000+ sq ft single‑level apartment with granite kitchen.**
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$163,377
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,267,540
$3.3M
Cap Rate 7%
$2,333,957
$2.3M
Cap Rate 9%
$1,815,300
$1.8M
Market Conditions
NOI Build-Up for 8,068 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$290.4K $36.00/SF
− Vacancy
−$29.0K −$3.60/SF
EGI
$261.4K $32.40/SF
− OpEx
−$98.0K −$12.15/SF
NOI
$163.4K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,267,540
Cap Rate 7%
$2,333,957
Cap Rate 9%
$1,815,300
Alternative Uses
Best Use
Mixed Use
$2.33M
$2.04M – $2.72M
NOI $163,377 @ 7.0% cap · market cap 7.82%
Second Best
Retail
$1.89M
$1.66M – $2.21M
NOI $132,560 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$4.78M
$4.18M – $5.57M
NOI $334,336 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,335
Businesses Nearby
Explore this area
Business Placement
Demographics for 01930, MA
29,729
Population
14,630
Households
2
Avg Household Size
50
Median Age
39%
College-Educated
94%
High-School Grad
26.2 sq mi
ZIP Area
1,135
Density / Sq Mi
$87,898
Median Household Income
$49,580
Median Earnings
$1,395
Median Rent
$587,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with retail and residential units in Gloucester, MA.
Where is this mixed-use property located?
The property is located at 100-102 Main St Gloucester, MA.
What is the asking price?
The asking price for this property is $2,089,000.
What are key features of this property?
This property features: Mixed‑use building with two retail stores and three residential apartments, all currently leased, offering immediate income.; Prime location on Main Street among busy shops and restaurants.; Luxury 2000+ sq ft single‑level apartment with granite kitchen.**
