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    Functional Warehouse Space Near Route 128 Title is generated by Realmo AI

    29 Emerson Ave, Gloucester, MA 01930

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    For Lease
    $12 SF/Yr $2,500/Mo (calc)

    Clean warehouse space with loading dock, utilities included, near Route 128.

    Type:Commercial
    Property size:
    2,500 SF
    Added:
    Mar 13, 2026
    Days on Market:
    82
    Last Refresh:
    Apr 1 at 9:02 pm

    Property Features for 29 Emerson Ave

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    Fred Newton

    Listing agent Fred Newton

    Listing office Sovereign Realty Advisors, LLC

    Listing date Mar 13, 2026

    Source Corcoran

    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

    HighLights

    • ±2,500 square feet of warehouse space suitable for storage or light industrial use.
    • Utilities included in base rent for predictable operating costs.
    • Shared interior loading area with tailgate dock and power‑operated overhead door (8'W x 12'H).
    • Convenient location less than ¾ mile from Route 128.
    • 12'8" clear height under joists for maximizing vertical storage.
    • Mostly open floor plan with columns spaced 24’ apart, providing flexibility.

    Overview

    This property offers approximately 2,500 square feet of warehouse space suitable for businesses requiring additional storage. The space features an open floor plan with four columns spaced 24 feet apart, providing flexibility for various storage and light industrial applications. A shared 240-square-foot interior loading area is accessible, equipped with a tailgate dock and an 8-foot wide by 12-foot high power-operated overhead door to facilitate efficient loading and unloading. The warehouse provides a clear height of 12 feet 8 inches under the joists, maximizing vertical storage capabilities. Utilities are included in the base rent. There are no restrooms within the premises. The space is located less than three-quarters of a mile from Route 128. Tenants are responsible for obtaining any necessary occupancy permits from the city. The space is best suited for companies seeking straightforward storage for inventory or equipment.
    Location Intelligence

    Current Use by Public Records

    Head Start-Emerson High School Pathways For Children Charitable Organization Cape Ann Families Social Service Agency Hailey Macdonald Foster Care Service Elder Services Plan Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Prime Storage — 18 Sargent St, Gloucester, MA 01930
    • River Boatworks — 29 Ferry St, Gloucester, MA 01930
    • Willow Street Self Storage Offices — 18 Sargent St #1, Gloucester, MA 01930
    • Grove Street Self Storage — 61A Grove St, Gloucester, MA 01930

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6764698
    Latitude
    42.616111

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      Functional Warehouse Space for Rent

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    FAQs

    What type of property is this?
    Warehouse - Clean warehouse space with loading dock, utilities included, near Route 128.
    Where is this warehouse located?
    The property is located at 29 Emerson Ave Gloucester, MA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: ±2,500 square feet of warehouse space suitable for storage or light industrial use.; Utilities included in base rent for predictable operating costs.; Shared interior loading area with tailgate dock and power‑operated overhead door (8'W x 12'H).
    (978) 283-0008
    We can help!
    Listing Contact
    Fred Newton
    Learn More
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    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.

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