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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Industrial properties
23 Kettle Cv Ln 2 Gloucester, MA 01930
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0547248
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
2002
Construction
STEEL FRAME
Total area
2,400 SF
Zoning code
GI
APN
GLOU M:0194 B:0010 L:0002(A)
UPID
US38-0547248
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
-
Luzis Cleaning, Inc. General Contractor Renovation Specialist
-
LCI Services LLC Landscaping General Contractor
-
Martyn Todd General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$395k
Comparable Approach
Comparable
$465k
Blend (final)
Blend
$575k
Owner & transaction history
Luzis Cleaning INC · 3 yrs held
Luzis Cleaning INC
since 2023
Last sale
$575,000
3 recorded transactions
Zoning & alternative use
GI · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$615,000
+85.0%
Auto repair, garage
$575,000
+72.4%
Commercial (general)
$540,000
+62.7%
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
$560,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$425,000
6.5%
$395,000
7%
$365,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$615,000
Change: +85% · Conversion: Difficult
AUTO REPAIR, GARAGE
$575,000
Change: +72% · Conversion: Easy
COMMERCIAL (GENERAL)
$540,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$535,000
Change: +60% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $575k (Jun 22 2023)
Last sale anchor
$575k
Jun 22 2023
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
$240 / 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
$3,609
Tax year 2024
Assessed value
$359,100
Assessed 2024
Previous assessed
$359,100
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed improvement
$359,100
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Bathrooms
2
Total area
2,400 SF
Zoning code
GI
APN
GLOU M:0194 B:0010 L:0002(A)
UPID
US38-0547248
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GI · Gloucester, MA
Zoning GI · permitted uses
GI · 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
OFFICE BUILDING
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$540,000
RETAIL STORES
Est. value
$535,000
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Bathrooms
2
Current owner
From public records · entity-resolved
Luzis Cleaning INC
Entity
Mailing address
23 KETTLE CV LN #2, GLOUCESTER, MA 01930
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2023
$575,000
Luzis Cleaning INC
Willow Self St Storage Ll
Condominium Deed
$575,000 · Willow St Self Storag
Jun 28, 2021
$342,500
Willow St Self Storage
Enon RT
Quit Claim Arm's Length For Ne States
—
Jan 29, 2009
—
Enon RT
—
Deed Of Trust
related
$78,000 · East Boston Savings Bank
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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