168 Eastern Ave Gloucester, MA 01930

This commercial property, formerly a repair center for 33 years, presents an auto or development opportunity. Situated on nearly 1 acre, the property features 6 double-deep bays, accommodating 12 to 14 vehicles. A new rubber roof and deck were installed in 2023 at a cost of $150,000. The property has a clean 21E soil report, updated in 2025, and a 2024 appraisal between $2.7 million and $3 million. The zoning allows for redevelopment with approximately 10 contractor bays, each 1,500 square feet, potentially yielding around $25,000 per month. Income potential includes storage parking, with spaces renting for $100 to $450 each, and a 25-car dealer license. There is also the possibility of applying for and obtaining a state inspection facility, which could generate an additional $120,000 per year. The property benefits from a high-visibility location with strong traffic counts and easy highway access, making it suitable for multiple business uses. This property is ideal for operators or investors seeking cash flow with future growth.