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 Market515
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
Listed By:
Bethany Pratt
(978) 515-7031
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 / Yr
$163,377
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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.**
