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    406 Washington St, Unit 1 Gloucester, MA 01930

    For Lease
    $7,500 /Mo

    Renovated restaurant space with patio and waterfront views.

    Lot size:
    0.12 Acres

    Property Features for 406 Washington St

    General Information

    Lot size
    0.12 Acres

    Building Details

    Year built
    1900

    Source: J. Barrett & Company Agent Julia Virden

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Restaurant Space Available

    This renovated commercial property offers 2,000 sq. ft. of versatile open space. It has a history of successful restaurant operations, with the most recent tenant occupying the space for over 25 years. A new 1,300 sq. ft. stone patio provides 180-degree waterfront views. The property is located along Route 127, benefiting from foot traffic and vehicle flow. This location serves as the main connection between Downtown Gloucester and Riverview, Riverdale, Annisquam, Lanesville, Pigeon Cove, and Rockport. The property is suitable for restaurants and retail businesses.
    Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6768623
    Latitude
    42.6329891

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    FAQs

    What type of property is this?
    Restaurant - Renovated restaurant space with patio and waterfront views.
    Where is this restaurant located?
    The property is located at 406 Washington St, Unit 1 Gloucester, MA.
    What are key features of this property?
    This property features: - Prime waterfront location with unmatched 180-degree views.; - 2,000 sq. ft. of renovated, versatile open commercial space.; - Additional **1,300 sq. ft. stone patio for outdoor dining/events.**
    (978) 406-7345
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    406 Washington St, Unit 1 Gloucester, MA 01930
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    Gloucester, MA 01930
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    406 Washington St, Unit 1 Gloucester, MA 01930
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