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Property profile & analytics
OFF-MARKET
Estimated value
$3,090,000
Retail properties & Spaces
177 Main St Gloucester, MA 01930-5703
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-0745297
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,734 SF
Lot
0.3 ac (13,096 SF)
Zoning code
CB
APN
GLOU M:0008 B:0032 L:0000
UPID
US38-0745297
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
-
The Cut - Stage • Studio • Restaurant • Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.14M
Blend (final)
Blend
$3.09M
Owner & transaction history
Granite Cove Equities LLC · 4 yrs held
Granite Cove Equities LLC
since 2022
Last sale
$2.9M
5 recorded transactions
Zoning & alternative use
CB · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.1M
+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
$3,245,000
ML approach
$3,260,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,055,000
Current use
COMMERCIAL (GENERAL)
$5,140,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.40M · ±10% · vs last sale $2.90M (May 4 2022)
Last sale anchor
$2.90M
May 4 2022
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
$136 / 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
$14,376
Tax year 2024
Assessed value
$1,430,400
Assessed 2024
Previous assessed
$1,430,400
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$442,300
Assessed improvement
$988,100
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
22,734 SF
Lot
0.3 ac (13,096 SF)
Zoning code
CB
APN
GLOU M:0008 B:0032 L:0000
UPID
US38-0745297
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
$5.1M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES Current
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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
Granite Cove Equities LLC
Entity
Free & Clear · 4 yrs held
Mailing address
966 WASHINGTON ST, GLOUCESTER, MA 01930-1159
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 7, 2024
—
Granite Cove Equities LLC
—
Deed
related
$402,893 · Mrg Const Mgmt INC
Sep 29, 2023
—
Granite Cove Equities LLC
—
Deed
related
$2,500,000 · Cape Ann Savings Bank
May 4, 2022
$2,900,000
Granite Cove Equities LLC
Dana Family Series LLC
Quit Claim Arm's Length For Ne States
—
May 4, 2022
—
Dana Family Series LLC
Remdana T
Deed
—
Jul 3, 2009
$1
Myer R Dana
Herman Dana T
Grant Deed
related
—
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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