Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15 Lexington Ave 1 Gloucester, MA 1930

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,350 /Mo

    1,165 SF commercial/retail space available for lease.

    Type:Commercial
    Property size:
    1,165 SF
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 8:09 pm

    Property Features for 15 Lexington Ave 1

    General Information

    Standard status
    Active
    Size
    1,165 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Fred Newton

    Listing agent Fred Newton

    Listing office Sovereign Realty Advisors, LLC

    Listing date Apr 24, 2026

    Source Elliman

    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 Sovereign Realty Advisors, LLC

    Overview

    Commercial/Retail Space for Lease

    This 1,165 square foot commercial/retail space is available for lease. It features two private rooms, approximately 8x12 and 8x14, suitable for offices, consultation, treatment, or storage. The space is designed with floor-to-ceiling windows at the entrance, bright white trim, wainscoting, and ceilings. It includes directional lighting and HVAC. Electric is separately metered and the tenant's responsibility. The location offers walking access to amenities, including the Post Office, nearby breakfast and coffee options, and the 525 restaurant across the street. It is also near the shoreline. The space is suitable for professional uses such as a law office, accountant, physical therapy, chiropractor, or instructional classes. Available May 1st.
    Location Intelligence

    Current Use by Public Records

    Shackteau Interiors Furniture & Home Goods Acupuncture Family Care ... Alternative Medicine Practice Kristy’s Hair Salon Hair Salon Active Healing Alternative Medicine Practice Sound Living Therapy ... Counselor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.7123942
    Latitude
    42.5766404

    Nearby Similar for Lease

    • $1,500/Mo

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main St unit: 2, Gloucester, MA 01930
      View Details
    • $7,500/Mo

      Waterfront Restaurant Opportunity

      Renovated restaurant space with patio and waterfront views.
      406 Washington Street #1, Gloucester, MA 01930
      View Details
    • $19 SF/Yr

      Versatile Office Suites with Harbor Views

      Three office suites available for lease with waterfront views.
      11-15 Parker, Gloucester, MA 01930
      View Details
    • $2,400/Mo

      Downtown Gloucester Retail/Office Space

      1,550 SF retail/office space in downtown Gloucester.
      7-11 Pleasant St #43, Gloucester, MA 01930
      View Details
    • $2,300/Mo

      Restaurant Space Near Gloucester's Main

      Restaurant space with equipment near Main Street, Gloucester.
      151 Main St, Gloucester, MA 01930
      View Details
    • $111 SF/Yr

      Professional Office Space with Views

      Elegant office space in East Gloucester with harbor and city views.
      108 E Main St, Gloucester, MA 01930
      View Details
    • $1,800/Mo

      Salon Space Ready For Occupancy

      Salon space with stations and sinks, near Magnolia beach.
      33 Lexington Ave, Gloucester, MA 01930
      View Details
    • $22 SF/Yr

      Downtown Gloucester Top-Floor Commercial Space

      Top-floor commercial space with harbor views in downtown Gloucester.
      21 Main St #3, Gloucester, MA 01930
      View Details
    • $12 SF/Yr

      Functional Warehouse Space for Rent

      Clean warehouse space with shared loading dock near Route 128.
      29 Emerson Ave, Gloucester, MA 01930
      View Details
    • $1,500/Mo

      Downtown Gloucester Storefront for Rent

      Street-level storefront in historic downtown Gloucester, high-traffic area.
      11 Center Street, Gloucester, MA 01930
      View Details
    • $1,500/Mo

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main St #2, Gloucester, MA 01930
      View Details
    • $2,400/Mo

      Prime Commercial Space in Gloucester

      Versatile commercial space in Gloucester's historic Main Street District.
      65 Middle St #1, Gloucester, MA 01930
      View Details

    FAQs

    What type of property is this?
    Retail space - 1,165 SF commercial/retail space available for lease.
    Where is this retail space located?
    The property is located at 15 Lexington Ave 1 Gloucester, MA.
    What is the lease rate?
    The lease rate is $1,350 /Mo.
    What are key features of this property?
    This property features: Versatile space suitable for various professional uses (law office, physical therapy, etc.); Two private rooms ideal for offices, consultation, or storage; Attractive interior with floor‑to‑ceiling windows, bright white trim, and wainscoting
    (508) 725-7017
    We can help!
    Listing Contact
    Fred Newton
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!