Duplex with Approved Townhouse
For Sale
$995,000
35-37 Sargent Street, Gloucester, MA 01930
Two occupied residences accompany city-approved plans for four additional townhouse-style homes.
Property Size5,919 SF
Price / SF$168.10
Days on Market8
Property Features for 35-37 Sargent Street
General Information
Standard status
Active
Size
5,919 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Public Transit
Yes
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Vadala Real Estate
Listed By:
Mark Ventimiglia · License #9070608
(978) 479-7257
Source:
Cabotandcompany
Added: Oct 25
Changed: Oct 30
Last Checked: Oct 30 at 12:52PM
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 Vadala Real Estate
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.
This duplex dates to 1900 and is occupied by two long-term tenants. The property includes a level, mostly cleared lot and city approvals for approximately 4,200 square feet of added building area. The approved plan calls for four townhouse-style units, each with three bedrooms and 1.5 baths.
The property is on Sargent Street in Gloucester, near downtown amenities and the MBTA Commuter Rail. The seller has also obtained a modular construction quote for the proposed units.
The property is on Sargent Street in Gloucester, near downtown amenities and the MBTA Commuter Rail. The seller has also obtained a modular construction quote for the proposed units.
Key Highlights
- Two existing units are occupied by long‑term tenants
- City approvals cover approximately 4,200 square feet of additional building area
- Expansion plan includes four townhouse‑style units, each with three bedrooms and 1.5 baths
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
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
NOI $99,713 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,007 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$3.50M
$3.07M – $4.09M
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
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,432
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences accompany city-approved plans for four additional townhouse-style homes.
Where is this duplex located?
The property is located at 35-37 Sargent Street Gloucester, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two existing units are occupied by long‑term tenants; City approvals cover approximately 4,200 square feet of additional building area; Expansion plan includes four townhouse‑style units, each with three bedrooms and 1.5 baths
