35-37 Sargent St, Gloucester, MA 01930

Building Details

Building Size 5,919 SF More

Year Built 1900 More

Listing Agency: Vadala Real Estate

Listed By: Mark Ventimiglia · License #9070608 Show Phone

Source: Classifiedrealtygroup

Added: Oct 28 Changed: Nov 7 Last Checked: Nov 8 at 2:57AM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$90,007

Cap Rate

9.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,800,140 $1.8M

Cap Rate 7%

$1,285,814 $1.3M

Cap Rate 9%

$1,000,078 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,919 SF

Gross rent

$170.5K $28.80/SF

− Vacancy

−$6.8K −$1.15/SF

EGI

$163.6K $27.65/SF

− OpEx

−$73.6K −$12.44/SF

NOI

$90.0K $15.21/SF

Area

Essex County, MA

Vacancy

4.00%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,800,140

Cap Rate 7%

$1,285,814

Cap Rate 9%

$1,000,078

Alternative Uses

Best Use

Multifamily LT 5

$1.42M

$1.25M – $1.66M (±1% cap)

NOI $99,713 @ 7.0% cap · market cap 10.02%

Second Best

Apartment 5plus

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,007 @ 7.0% cap · market cap 9.05%

Theoretical Best

Office A

$3.50M

$3.07M – $4.09M (±1% cap)

NOI $245,282 @ 7.0% cap · market cap 24.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Cosmetic Store Tattoo & Piercing Shop Nursing Home Home Appliance Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,099

Businesses Nearby

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

Average Price Trend$/SF for Duplexes in Essex County, MA

$352 Jul

$360 Aug

$377 Sep

$338 Oct

Properties on Market for Duplexes in Essex County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 35-37 Sargent St Gloucester, MA.

What is the asking price?

The asking price for this property is $995,000.