Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    305-361 Gloucester Crossing Rd Gloucester, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a busy shopping center.

    Type:RETAIL
    Property size:
    3,450 SF
    Lot size:
    31.23 Acres
    Added:
    Oct 4, 2024
    Days on Market:
    568
    Last Refresh:
    Apr 5 at 9:59 pm

    Property Features for 305-361 Gloucester Crossing Rd

    General Information

    Standard status
    Active
    Size
    3,450 SF
    Lot size
    31.23 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 305-361 Gloucester Crossing Rd Contact us

    We can help!

    Listing Contact
    Josh Durell
    Josh Durell

    Listing agent Josh Durell License #9529607-RE-S

    Listing office Blackline Retail Group

    Listing date Oct 4, 2024

    Source Moodyscre

    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 Blackline Retail Group

    Overview

    Retail Space in Gloucester Crossing

    Located in Gloucester Crossing, a prominent shopping center on Massachusetts' North Shore, this retail space offers a strategic location with high visibility. The shopping center benefits from strong national anchor tenants, including Market Basket, Marshall’s, Petco, and ACE Hardware. Situated on Route 128, Gloucester Crossing experiences a daily traffic volume of over 23,500 vehicles. The available retail space measures 3,450 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    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

    • Stop & Shop Florist — 6 Thatcher Rd, Gloucester, MA 01930
    • Gloucester Crossing — 100 Gloucester Crossing Rd, Gloucester, MA 01930
    • Coinstar Kiosk | Bitcoin ATM — Stop & Shop - New England, 6 Thatcher Rd, Gloucester, MA 01930
    • Coinstar Kiosk | Bitcoin ATM — 7 Railroad Ave Shaw's, Gloucester, MA 01930

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6555
    Latitude
    42.6235

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main St unit: 2, Gloucester, MA 01930
      View Details
    • $18/mo

      Versatile Office Suites with Harbor Views

      Three office suites available for lease with waterfront views.
      11-15 Parker, Gloucester, MA 01930
      View Details
    • $11/mo

      Office/Flex Space Near Route 128

      Office/flex space suitable for various business uses, convenient location.
      44 Whittemore St, Gloucester, MA 01930
      View Details
    • $12/mo

      Functional Warehouse Space Near Route 128

      Clean warehouse space with loading dock, utilities included, near Route 128.
      29 Emerson Ave, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Salon Ready for New Occupancy

      Salon space with stations, sinks, and private rooms available.
      33 Lexington Ave, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Professional Office Space in Gloucester

      Elegant office solutions with harbor views in East Gloucester.
      108 E Main St #3, Gloucester, MA 01930
      View Details
    • $1.00/mo

      Downtown Gloucester Top-Floor Commercial Space

      Top-floor commercial space with harbor views in downtown Gloucester.
      21 Main St #3, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main Street, Gloucester, MA 01930
      View Details
    • $111/mo

      Professional Office Space with Views

      Elegant office spaces in East Gloucester with harbor and city views.
      108 E Main St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main St #2, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Downtown Gloucester Retail/Office Space

      1,650 SF retail/office space in downtown Gloucester.
      7-11 Pleasant St #43, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Restaurant Space Near Main Street

      Restaurant space with equipment or adaptable for other commercial uses.
      151 Main St, Gloucester, MA 01930
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in a busy shopping center.
    Where is this shopping center located?
    The property is located at 305-361 Gloucester Crossing Rd Gloucester, MA.
    What are key features of this property?
    This property features: Premiere shopping center on Massachusetts North Shore; Strong national anchors including Market Basket, Marshall’s, Petco, and ACE Hardware; Located on Route 128
    (608) 988-5227 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Josh Durell
    Josh Durell
    Real Estate License ID: 9529607-RE-S
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!