Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    124 Main St Gloucester, MA 01930-5731
    Back to Search
    Property profile & analytics

    124 Main St, Gloucester, MA 01930-5731

    View on Map
    • Investment properties
    • 5,367 SF
    • 0.05 lot acres
    Off-Market
    Property ID
    US38-0315285
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cape Ann Vajra Vidya / Alternative Medicine Practice
    • David B. Cox / Physician
    • Main Street Arts & Antiques / Home Decor Store / (Bike/Boat/Book/etc) Store

    Property Details for 124 Main St

    Year built
    1902
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.05 lot acres
    Zone code
    CB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    GLOU M:0007 B:0054 L:0000
    APU
    GLOUM0007B0054L0000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 3, 2025 — Cynthia H Mcnamara — Deed · related $100k · Cape Ann Savings Bank
    Mar 1, 2021 — Cynthia H Mcnamara — Deed · related $50k · Cape Ann Savings Bank
    Oct 18, 2004 — Cynthia H Mcnamara — Deed Of Trust · related $300k · Cape Ann Savings Bank
    May 27, 1999 — Michael T Mcnamara — Deed Of Trust · related $200k · Cape Ann Savings Bank
    Mar 17, 1997 — Michael T Mcnamara — Deed Of Trust · related $8k · Cape Ann Savings Bank
    Jun 1, 1993 — Michael Mcnamra — Deed Of Trust · related $5k · Cape Ann Savings Bank
    Feb 3, 1989 — Michael T Mcnamara — Deed Of Trust · related $60k · Cape Ann Savings Bank
    Feb 3, 1988 — Michael T Mcnamara — Deed Of Trust · related $15k · Cape Ann Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $831,000
      Market price range: $652k - $1.99M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,215,000
      Current use
      AUTO REPAIR, GARAGE
      $1,285,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $1,195,000
      Change: -2% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6634
    Latitude
    42.6127
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $6,274
    $294,900
    $434,100
    $729,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.70 Acres

      33 Commercial St

      OFFICE/RESIDENTIAL (MIXED USE)
      33 Commercial St, Gloucester, MA 01930-5040
      View Details
    • Value Estimation by Request
      0.21 Acres

      1075 Washington St

      OFFICE/RESIDENTIAL (MIXED USE)
      1075 Washington St, Gloucester, MA 01930-1129
      View Details
    • Value Estimation
      $570,000
      2,360 SF

      210 Eastern Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      210 Eastern Ave, Gloucester, MA 01930-1810
      View Details
    • Value Estimation
      $560,000
      3,139 SF

      2 Magnolia Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      2 Magnolia Ave, Gloucester, MA 01930-5130
      View Details
    • Value Estimation by Request
      2,112 SF

      146 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      146 Main St, Gloucester, MA 01930-5761
      View Details
    • Value Estimation
      $625,000
      3,434 SF

      161 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      161 Main St, Gloucester, MA 01930-5754
      View Details

    Similar Nearby for Sale

    • $2,089,000
      8,068 SF

      Mixed-Use Building on Main Street

      Mixed-use building with retail and residential units in Gloucester, MA.
      100-102 Main St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Mixed-Use Property Near the Ocean

      Mixed-use property with apartments and retail in Magnolia Village.
      13 Flume Rd, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Mixed-Use Building Overlooking Gloucester Harbor

      Three-story mixed-use building with period features and business rental history.
      16 Rogers St, Gloucester, MA 01930
      View Details
    • Contact for pricing
      8,010 SF

      Historic Mixed-Use Building Overlooking Harbor

      Three-story, 6,500+ SF mixed-use building with harbor views.
      16 Rogers St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Gloucester Land with Utilities

      Improved lot in Gloucester's Bay View neighborhood ready for development.
      5 Ciaramitaro Ct, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Established Ice Cream Shop For Sale

      Turnkey ice cream shop in high-traffic Gloucester location.
      185 Washington St, Gloucester, MA 01930
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Commercial Space in Gloucester

      Versatile commercial space in Gloucester's historic Main Street District.
      65 Middle St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Commercial/Retail Space for Lease

      1,165 SF commercial/retail space available for lease.
      15 Lexington Ave, Gloucester, MA 01930
      View Details
    • Contact for pricing
      Pending

      Office/Flex Space Near Route 128

      Office/flex space with conversion potential, near Gloucester center.
      44 Whittemore St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Downtown Gloucester Top-Floor Commercial Space

      Top-floor commercial space with harbor views in downtown Gloucester.
      21 Main St, Gloucester, MA 01930
      View Details
    • Contact for pricing
      2,758 SF

      Downtown Gloucester Retail/Office Space

      2,758 SF retail/office space in downtown Gloucester.
      186 Main St, Gloucester, MA 01930
      View Details
    • Contact for pricing

      Distinctive Commercial Space in Gloucester

      Versatile commercial space with high ceilings and excellent visibility.
      65 Middle St, Gloucester, MA 01930
      View Details
    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.
    124 Main St
    Gloucester, MA 01930-5731
    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

    Thank You for Inquiry
    124 Main St, Gloucester, MA, 01930
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!