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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Retail space
169 Main St Gloucester, MA 01930-5703
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US38-1354517
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,283 SF
Lot
0.37 ac (16,057 SF)
Zoning code
CB
APN
GLOU M:0008 B:0033 L:0000
UPID
US38-1354517
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Floating Lotus Gloucester Clothing & Fashion Store
-
The Folklore Theatre Company Theater & Performing Art Venue
-
Direct Garage Door Repair Inc. Building Supply General Contractor
-
Family Dentistry: Martinetti Terry M DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$1.55M
Owner & transaction history
171 M St Glouc RT · 24 yrs held
171 M St Glouc RT
since 2002
5 recorded transactions
Zoning & alternative use
CB · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.4M
+15.6%
Auto repair, garage
$2.2M
+7.7%
Commercial (general)
$2.1M
+1.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gloucester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gloucester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,065,000
Current use
OFFICE BUILDING
$2,385,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,225,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,100,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$167 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$16,241
Tax year 2024
Assessed value
$1,616,000
Assessed 2024
Previous assessed
$1,616,000
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$464,600
Assessed improvement
$1,151,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Bathrooms
4
Total area
9,283 SF
Lot
0.37 ac (16,057 SF)
Zoning code
CB
APN
GLOU M:0008 B:0033 L:0000
UPID
US38-1354517
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CB · Gloucester, MA
Zoning CB · permitted uses
CB · Gloucester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gloucester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
4
Lot
0.37 ac
Current owner
From public records · entity-resolved
171 M St Glouc RT
Individual
Mailing address
6 GAP HEAD RD, ROCKPORT, MA 01966-1908
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2021
—
171 Main St Gloucester RT
—
Deed
related
$1,432,500 · Brookline Bank
May 3, 2016
—
171 Main Street RT
—
Deed
related
$1,250,000 · First Ipswich Bank
Feb 13, 2004
—
171 Main St. Gloucester RT
—
Deed Of Trust
related
$850,000 · First National Bank Ipswch
Jun 17, 2002
$625,000
171 M St Glouc RT
Axelrod,leonard
Grant Deed
$500,000 · First National Bank Ipswch
—
—
171 Main Street Realty Trust
—
Deed Of Trust
related
$600,000 · First Ipswich Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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