Street-Level Retail
For Sale
$525,000
2a-29 Railroad Ave, Gloucester, MA 01930
Street-level retail storefront is currently leased on a tenant-at-will basis with two deeded parking spots.
Property Size1,573 SF
Price / SF$333.76
Days on Market175
Property Features for 2a-29 Railroad Ave
General Information
Standard status
Active
Size
1,573 SF
Total Parking Spaces
2
Taxes and HOA fees
Annual Taxes
$5,349
Listing Agency:
J. Barrett & Company
(978) 282-1315
Listed By:
Grace Ciaramitaro
(978) 807-6186
Source:
Exprealty
Added: May 1
Changed: Oct 11
Last Checked: Oct 21 at 1:45AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Station Place Condos includes a street-level retail storefront currently rented by an optical shop on a tenant-at-will basis. The property is complemented by residential condo use on the second and third floors.
The storefront is centrally located near a T Station and bus stop, with nearby restaurants and convenience uses, plus access to the downtown area. Additional access includes street parking and extra spots behind the building, along with two deeded parking spaces.
The layout supports retail operations on the ground level, with residential condos above, and offers parking convenience through deeded spaces, street parking, and rear parking options.
The storefront is centrally located near a T Station and bus stop, with nearby restaurants and convenience uses, plus access to the downtown area. Additional access includes street parking and extra spots behind the building, along with two deeded parking spaces.
The layout supports retail operations on the ground level, with residential condos above, and offers parking convenience through deeded spaces, street parking, and rear parking options.
Key Highlights
- Street‑level retail storefront leased on a tenant‑at‑will basis
- Currently rented by an optical shop
- Includes two deeded parking spots plus street parking and extra spots out back
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,845
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,900
$516.9K
Cap Rate 7%
$369,214
$369.2K
Cap Rate 9%
$287,167
$287.2K
Market Conditions
NOI Build-Up for 1,573 SF
Gross rent
$37.8K $24.00/SF
− Vacancy
−$831 −$0.53/SF
EGI
$36.9K $23.47/SF
− OpEx
−$11.1K −$7.04/SF
NOI
$25.8K $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 Rate 5%
$516,900
Cap Rate 7%
$369,214
Cap Rate 9%
$287,167
Alternative Uses
Best Use
Retail
$369.2K
$323.1K – $430.8K
NOI $25,845 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.2K
$814.8K – $1.09M
NOI $65,185 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,396
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 Retail in Northeast region
Similar Off Market Nearby
- Audrey's Flower Shop — 38 Railroad Ave, Gloucester, MA 01930
- Sage Floral Studio — 274 Main St, Gloucester, MA 01930
Frequently Asked Questions
What type of property is this?
Storefront property - Street-level retail storefront is currently leased on a tenant-at-will basis with two deeded parking spots.
Where is this storefront property located?
The property is located at 2a-29 Railroad Ave Gloucester, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Street‑level retail storefront leased on a tenant‑at‑will basis; Currently rented by an optical shop; Includes two deeded parking spots plus street parking and extra spots out back
