13 Flume Rd, Gloucester, MA 01930

Listing agent Richard Palladino License #9081833

Listing office Century 21 North East Peabody

Listing date May 29, 2024

Source Crexi

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Overview

This mixed-use property is located in the heart of Magnolia Village, within sight of the ocean. It features four residential apartments, including a first-floor unit with an updated kitchen, hardwood floors, three bedrooms, and 2.5 baths. There are also two one-bedroom apartments, one currently rented and the other being renovated, as well as a completely renovated two-bedroom penthouse unit. Residents can enjoy a common area ocean-view roof deck. The property includes four retail units on Lexington Avenue, with three currently rented and one vacancy. The store fronts pay their own utilities, while the residential renters have heat and hot water included. The septic system is designed to support up to 14 bedrooms. The property is located steps from the ocean, Kettle Cove beach, restaurants, shops, and the Magnolia Library. This property offers potential for condo conversion, Airbnb, or the opportunity to live and operate a business without a commute.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

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

Location Insight

• Map
• Local Demand

City

Gloucester

County

Essex

State

Massachusetts

Longitude

-70.7124079

Latitude

42.5758163

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FAQs

What type of property is this?

Mixed-use property - Mixed-use property with apartments and retail in Magnolia Village.

Where is this mixed-use property located?

The property is located at 13 Flume Rd Gloucester, MA.

What is the asking price?

The asking price for this property is $1,999,999.

What are key features of this property?

This property features: Mixed‑use property in the heart of Magnolia Village, offering both residential and commercial income potential.; Ocean views and a common area roof deck provide a desirable amenity for residents.; Four retail units on Lexington Ave, with three currently rented, providing immediate income.