Property summary
This exceptional Gloucester property presents a unique investment opportunity. The building boasts three separate office spaces on the ground floor, ideal for a variety of businesses or professional uses. High visibility from its location in bustling downtown Gloucester ensures excellent exposure. The upper levels feature two spacious two-bedroom apartments, providing significant rental income potential or comfortable living quarters. The property's convenient downtown location offers easy access to shopping, dining, and entertainment options. Commuting to Boston is also simplified with nearby train access. The design allows for seamless work-from-home integration, with separate entrances for the office spaces ensuring privacy and convenience. A grand staircase connects the office and residential areas. Ample parking is available, including a two-car garage, addressing a common challenge in urban settings. The 0.21-acre lot provides additional space and potential for future development. This property offers a blend of commercial and residential uses, making it an attractive investment for those seeking a versatile and high-return property in a desirable location. The combination of office space, residential units, and ample parking makes this a truly unique and valuable asset.
Property profile
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Current use
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Zoning & alternative use
The Central Business District is located on either side of Main Street, A broad range of business, retail, office and institutional uses are allowed, as are residential units above retail establishments, This is the city…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
CB · Gloucester, MAThe Central Business District is located on either side of Main Street, A broad range of business, retail, office and institutional uses are allowed, as are residential units above retail establishments, This is the city…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The Central Business District is located on either side of Main Street, A broad range of business, retail, office and institutional uses are allowed, as are residential units above retail establishments, This is the city…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CB in Gloucester, MA.
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