Historic Post-and-Beam Flex
For Sale
$1,250,000
16 Rogers Street, Gloucester, MA 01930
Three-story post-and-beam structure with period features, flexible floor configurations, and on-street parking.
Property Size8,010 SF
Price / SF$156.05
Days on Market473
Property Features for 16 Rogers Street
General Information
Standard status
Active
Size
8,010 SF
Property subtype
Commercial
Zoning
CB
Building Details
Year Built
1900
Stories
3
Listing Agency:
J. Barrett & Company
(508) 942-4323
Listed By:
Ann & Rick Gloucester Group
(508) 942-4323
Source:
Jbarrettrealty
Added: May 9, 2025
Changed: Aug 23
Last Checked: Aug 24 at 6:46AM
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 for-sale flex building is a post-and-beam structure built in 1900 and arranged as a three-story facility totaling 6,500+ square feet. The space includes period features such as original random-width flooring, barn doors, and soaring ceilings. The property is positioned to support multiple approaches, including refurbishing as-is for continued use or undertaking a full down-to-the-studs restoration for individual floors, separate businesses, or the entire building.
Situated with on-street visibility and overlooking Gloucester Harbor, the property also offers on-street parking for visitors and day-to-day operations. The building is zoned CB, providing a basis for a range of commercial uses.
This configuration can appeal to contractors, developers, and investors seeking a building with tangible character and the ability to tailor improvements to specific tenant layouts. With multiple floors and a flexible ownership or operational approach, it may fit users who want to modernize while preserving existing architectural elements, or who prefer a complete renovation strategy depending on their business plan.
Situated with on-street visibility and overlooking Gloucester Harbor, the property also offers on-street parking for visitors and day-to-day operations. The building is zoned CB, providing a basis for a range of commercial uses.
This configuration can appeal to contractors, developers, and investors seeking a building with tangible character and the ability to tailor improvements to specific tenant layouts. With multiple floors and a flexible ownership or operational approach, it may fit users who want to modernize while preserving existing architectural elements, or who prefer a complete renovation strategy depending on their business plan.
Key Highlights
- 3‑story post‑and‑beam building built in 1900 with original period features
- Over 6,500 SF total, with flexible options for refurbishing individual floors or the full building
- Period details include original random width 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
$85,202
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
6.82%
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%
$1,704,040
$1.7M
Cap Rate 7%
$1,217,171
$1.2M
Cap Rate 9%
$946,689
$946.7K
Market Conditions
NOI Build-Up for 8,010 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
$128.8K $16.08/SF
− Vacancy
−$7.1K −$0.88/SF
EGI
$121.7K $15.20/SF
− OpEx
−$36.5K −$4.56/SF
NOI
$85.2K $10.64/SF
Area
Essex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /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%
$1,704,040
Cap Rate 7%
$1,217,171
Cap Rate 9%
$946,689
Alternative Uses
Best Use
Flex RnD
$2.00M
$1.75M – $2.33M
NOI $139,751 @ 7.0% cap · market cap 11.18%
Second Best
Industrial
$1.22M
$1.07M – $1.42M
NOI $85,202 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$4.74M
$4.15M – $5.53M
NOI $331,932 @ 7.0% cap · market cap 26.55%
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
Under-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rhea Pizzeria Napoletana — Corner of Roger st &, Harbor Loop, Gloucester, MA 01930
- Del Rio's Cafe & Catering — 18 Rogers St, Gloucester, MA 01930
Frequently Asked Questions
What type of property is this?
Flex space - Three-story post-and-beam structure with period features, flexible floor configurations, and on-street parking.
Where is this flex space located?
The property is located at 16 Rogers Street 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: 3‑story post‑and‑beam building built in 1900 with original period features; Over 6,500 SF total, with flexible options for refurbishing individual floors or the full building; Period details include original random width flooring, barn doors, and soaring ceilings
