Triplex with In-Unit
366 Main St, Gloucester, MA 01930
For Sale
$1,139,999
Three residential units feature updated kitchens and bathrooms, modern finishes, and two dedicated parking spaces.
Property Size3,600 SF
Price / SF$316.67
Days on Market11
Property Features for 366 Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Land Use
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
Partial
4
No
9
Other
3600
Public
0.1
2
Yes
Off Street
Block
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
Gjikondi Realty
Listed By:
Kristi Gjikondi
Source:
Coarealtygroup
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 8:07PM
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 Gjikondi Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this NB-zoned triplex contains 3,600 square feet across three residential units. Renovations include updated kitchens and bathrooms, modern finishes, and in-unit laundry. Two off-street parking spaces serve the property, which offers ocean views.
A separate parcel at 368R Main Street sits directly behind the property. An additional residential unit or ADU may be considered there, subject to zoning, permitting, utilities, and site requirements. Good Harbor Beach, Gloucester’s harbor, restaurants, and downtown amenities are nearby.
A separate parcel at 368R Main Street sits directly behind the property. An additional residential unit or ADU may be considered there, subject to zoning, permitting, utilities, and site requirements. Good Harbor Beach, Gloucester’s harbor, restaurants, and downtown amenities are nearby.
Key Highlights
- Three‑unit residential property with 3,600 square feet
- Built in 1900 and zoned NB
- Updated kitchens and bathrooms, modern finishes, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,646
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,920
$1.2M
Cap Rate 7%
$866,371
$866.4K
Cap Rate 9%
$673,844
$673.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$90.7K $25.20/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$86.6K $24.07/SF
− OpEx
−$26.0K −$7.22/SF
NOI
$60.6K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,920
Cap Rate 7%
$866,371
Cap Rate 9%
$673,844
Alternative Uses
Best Use
Multifamily LT 5
$866.4K
$758.1K – $1.01M
NOI $60,646 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$782.0K
$684.3K – $912.4K
NOI $54,743 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,183 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
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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
$587,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Essex County, MA
Properties on Market for Triplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature updated kitchens and bathrooms, modern finishes, and two dedicated parking spaces.
Where is this triplex located?
The property is located at 366 Main St Gloucester, MA.
What is the asking price?
The asking price for this property is $1,139,999.
What are key features of this property?
This property features: Three‑unit residential property with 3,600 square feet; Built in 1900 and zoned NB; Updated kitchens and bathrooms, modern finishes, and in‑unit laundry
