Commercial
New
For Sale
Contact for pricing
3 Lexington Ave, Gloucester, MA 01930
The space is suited to retail, office, service, wellness, or creative business uses.
Property Size1,290 SF
Price / SF$1.94
Days on Market7
Property Features for 3 Lexington Ave
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Commercial
Building Details
Year Built
2015
Listing Agency:
Coldwell Banker Realty - Manchester
(978) 526-7572
Listed By:
Gabriela Debenedictis
(978) 879-9773
Source:
Lockandkeyre
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 20 at 10:52PM
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.
Built in 2015, this Gloucester storefront contains approximately 1,290 square feet and has abundant parking. The property is presented for retail, office, service, wellness, or creative business uses.
The address is 3 Lexington Ave, Gloucester, MA 01930. Magnolia Beach is minutes away, with local businesses and neighborhood amenities in the surrounding area.
The address is 3 Lexington Ave, Gloucester, MA 01930. Magnolia Beach is minutes away, with local businesses and neighborhood amenities in the surrounding area.
Key Highlights
- Approximately 1,290 square feet of storefront space
- Built in 2015
- Abundant parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,195
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,900
$423.9K
Cap Rate 7%
$302,786
$302.8K
Cap Rate 9%
$235,500
$235.5K
Market Conditions
NOI Build-Up for 1,290 SF
Gross rent
$31.0K $24.00/SF
− Vacancy
−$681 −$0.53/SF
EGI
$30.3K $23.47/SF
− OpEx
−$9.1K −$7.04/SF
NOI
$21.2K $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%
$423,900
Cap Rate 7%
$302,786
Cap Rate 9%
$235,500
Alternative Uses
Best Use
Retail
$302.8K
$264.9K – $353.3K
NOI $21,195 @ 7.0% cap · market cap 847.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$763.7K
$668.2K – $891.0K
NOI $53,457 @ 7.0% cap · market cap 2,138.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
158
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Storefront property - The space is suited to retail, office, service, wellness, or creative business uses.
Where is this storefront property located?
The property is located at 3 Lexington Ave Gloucester, MA.
What are key features of this property?
This property features: Approximately 1,290 square feet of storefront space; Built in 2015; Abundant parking
