Mixed-Use Building Overlooking Gloucester
For Sale
$1,250,000
16 Rogers St, Gloucester, MA 01930
Three-story mixed-use building with period features and business potential.
Property Size8,010 SF
Lot Size0.07 Acres
Price / SF$192.31
Days on Market152
Property Features for 16 Rogers St
General Information
Standard status
Active
Size
8,010 SF
Lot size
0.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,696
Building Details
Building Size
8,010 SF
Year Built
1900
Listing Agency:
J. Barrett & Company
(508) 942-4323
Listed By:
Ann Rick Gloucester Group
(508) 942-4323
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:22PM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
This three-story mixed-use building, dating back to 1900, offers approximately 6,500 square feet of space and overlooks Gloucester Harbor. The property retains period features, including original random width flooring, barn doors, and soaring ceilings. The building provides flexibility for refurbishment, allowing for individual floors or the entire building to be restored. Zoned CB, the property has a business rental history. On-street parking is available. It is suitable for contractors, developers, and investors.
Key Highlights
- Excellent on‑street visibility and Gloucester Harbor views.
- 6,500+ SF, 3‑story building with flexible CB zoning and business rental history.
- Post‑and‑beam construction with period features like original flooring, barn doors, and soaring ceilings.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$106,798
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,135,960
$2.1M
Cap Rate 7%
$1,525,686
$1.5M
Cap Rate 9%
$1,186,644
$1.2M
Market Conditions
NOI Build-Up for 6,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$156.0K $24.00/SF
− Vacancy
−$3.4K −$0.53/SF
EGI
$152.6K $23.47/SF
− OpEx
−$45.8K −$7.04/SF
NOI
$106.8K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,135,960
Cap Rate 7%
$1,525,686
Cap Rate 9%
$1,186,644
Alternative Uses
Best Use
Office B
$2.59M
$2.26M – $3.02M
NOI $181,175 @ 7.0% cap · market cap 14.49%
Second Best
Mixed Use
$1.88M
$1.65M – $2.19M
NOI $131,625 @ 7.0% cap · market cap 10.53%
Theoretical Best
Office A
$3.85M
$3.37M – $4.49M
NOI $269,358 @ 7.0% cap · market cap 21.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,278
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with period features and business potential.
Where is this mixed-use property located?
The property is located at 16 Rogers St Gloucester, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Excellent on‑street visibility and Gloucester Harbor views.; 6,500+ SF, 3‑story building with flexible CB zoning and business rental history.; Post‑and‑beam construction with period features like original flooring, barn doors, and soaring ceilings.
