Gloucester Development Opportunity on 3.7
For Sale
$1,499,000
368 Essex Ave, Gloucester, MA 01930
3.7-acre parcel with income potential and development opportunities in Gloucester.
Property SizeContact for details
Days on Market472
Property Features for 368 Essex Ave
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$9,065
Listing Agency:
Churchill Properties
Listed By:
Antonia Tullercash
Source:
Corcoran
Added: May 13, 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 offering presents a rare opportunity for investors and developers to acquire a substantial 3.7-acre parcel in a highly desirable West Gloucester location. The property includes a three-family property situated on a 2.44-acre lot, with an additional 1.26-acre lot being sold together. The existing property offers immediate income potential with three separate units. The property holds significant potential for subdivision, subject to buyer due diligence and approvals. The zoning is R20 with potential for 5 ANR lots, and the property may be included in a future MBTA MF 3A Overlay district (not yet established).
Key Highlights
- Substantial 3.7‑acre parcel in desirable West Gloucester location.
- Significant potential for subdivision (subject to approvals).
- Existing three‑family property provides immediate income potential.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
58
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
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 3.7-acre parcel with income potential and development opportunities in Gloucester.
Where is this residential land & home lot located?
The property is located at 368 Essex Ave Gloucester, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Substantial 3.7‑acre parcel in desirable West Gloucester location.; Significant potential for subdivision (subject to approvals).; Existing three‑family property provides immediate income potential.
