Street-Level Retail
2a-29 Railroad Ave Gloucester, MA 01930
2a-29 Railroad Ave, Gloucester, MA, 01930
$549,000
For Sale
$549,000
Street-level retail storefront is currently leased on a tenant-at-will basis with two deeded parking spots.
Property Size1,573 SF
Price / SF$349.01
Days on Market82
Property Features for 2a-29 Railroad Ave
General Information
- Standard status
- Active
- Size
- 1,573 SF
Listing agency
J. Barrett & Company
(978) 807-6186
Listed by
Grace Ciaramitaro
(978) 807-6186
Source
Exprealty
Added: May 1 Updated: Jul 21 at 2:43AM Checked: Jul 21 at 2:43AM
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.
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.8k | $24.00 |
| − Vacancy | −$831 | −$0.53 |
| EGI | $36.9k | $23.47 |
| − OpEx | −$11.1k | −$7.04 |
| NOI | $25.8k | $16.43 |
1,573 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$369.2K
$323.1K – $430.8K
NOI $25,845 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.2K
$814.8K – $1.09M
NOI $65,185 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Audrey's Flower Shop — 38 Railroad Ave, Gloucester, MA 01930
- Sage Floral Studio — 274 Main St, Gloucester, MA 01930
FAQs
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 $549,000.
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
