Four-Unit Mixed-Use
27 Commercial Street, Gloucester, MA 01930
For Sale
$1,999,999
Includes a dental practice layout, a woodworking shop, and two upper-level spaces overlooking the Fort area.
Property Size1,975 SF
Price / SF$363.64
Days on Market21
Property Features for 27 Commercial Street
General Information
Standard status
Size
Total Parking Spaces
Lease Term
Additional Details
Public Transit
Dock-High Doors
Property Use
Medical Specialty
Amenities
loading docks
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Coldwell Banker Realty - Manchester
(978) 526-7572
Listed By:
Lisa Ramos
(978) 290-3005
Source:
Iverty
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 5:48AM
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 Coldwell Banker Realty - Manchester
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,500-square-foot mixed-use building contains four units. One 1,800-square-foot space is configured as a dental office with five treatment rooms; another 1,800-square-foot unit is used as a woodworking shop. Two upper-floor units, each approximately 750 square feet, face the Fort area. The property also has five bathrooms, two street-level loading docks with garage doors, and a roof approximately five years old. Built in 1975, the building has six parking spaces at the front, with additional parking available in a nearby public lot.
At 27 Commercial Street in Gloucester, the property is situated in the Fort area. Downtown, commuter rail service, hotels, and other businesses are accessible from the property.
At 27 Commercial Street in Gloucester, the property is situated in the Fort area. Downtown, commuter rail service, hotels, and other businesses are accessible from the property.
Key Highlights
- Four‑unit building totaling approximately 5,500 square feet
- Dental office unit is approximately 1,800 square feet with five treatment rooms
- Approximately 1,800‑square‑foot unit currently used as a woodworking shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,302
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,066,040
$3.1M
Cap Rate 7%
$2,190,029
$2.2M
Cap Rate 9%
$1,703,356
$1.7M
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$250.8K $45.60/SF
− Vacancy
−$46.4K −$8.44/SF
EGI
$204.4K $37.16/SF
− OpEx
−$51.1K −$9.29/SF
NOI
$153.3K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,066,040
Cap Rate 7%
$2,190,029
Cap Rate 9%
$1,703,356
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,302 @ 7.0% cap · market cap 7.67%
Second Best
Mixed Use
$1.59M
$1.39M – $1.86M
NOI $111,375 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,919 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Dock-high doors
Multi-tenant
Tenancy
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
$587,800
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Essex County, MA
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a dental practice layout, a woodworking shop, and two upper-level spaces overlooking the Fort area.
Where is this mixed-use property located?
The property is located at 27 Commercial Street 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: Four‑unit building totaling approximately 5,500 square feet; Dental office unit is approximately 1,800 square feet with five treatment rooms; Approximately 1,800‑square‑foot unit currently used as a woodworking shop
