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Property profile & analytics
OFF-MARKET
Estimated value
$1,455,000
Investment properties
242 Main St, Gloucester, MA 01930-6004
Entity Owned
1-yr Hold
Property ID
US38-1220271
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
7,612 SF
Lot
0.26 ac (11,172 SF)
Zoning code
CB
APN
GLOU M:0013 B:0012 L:0000
UPID
US38-1220271
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
-
Stones Pub & Eatery Bar & Pub
-
Jerry Noble Electricians Inc Electrical Service General Contractor
-
Serenity Salon & Spa Spa & Massage Center
-
Phia Women's Center Gym & Fitness Center Alternative Medicine Practice
-
Howard Blackburn Building Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.46M
Owner & transaction history
242 Main Street LLC · 1 yrs held
242 Main Street LLC
since 2025
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
CB · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+13.7%
Auto repair, garage
$1.8M
+6.0%
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
$1,330,000
ML approach
$1,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,720,000
Current use
OFFICE BUILDING
$1,955,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,825,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$1,695,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±10% · vs last sale $1.45M (Feb 6 2025)
Last sale anchor
$1.45M
Feb 6 2025
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
$191 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$9,931
Tax year 2020
Assessed value
$1,555,200
Assessed 2024
Previous assessed
$1,555,200
+0.0% YoY
Effective rate
0.64%
On assessed value
Assessed land
$618,200
Assessed improvement
$937,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
3
Units
11
Bathrooms
7
Total area
7,612 SF
Lot
0.26 ac (11,172 SF)
Zoning code
CB
APN
GLOU M:0013 B:0012 L:0000
UPID
US38-1220271
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
COMMERCIAL (GENERAL) Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1900
Construction
FRAME
Heating
HOT WATER
Stories
3
Buildings
1
Units
11
Bathrooms
7
Lot
0.26 ac
Current owner
From public records · entity-resolved
242 Main Street LLC
Entity
Mailing address
4 GLENMERE RD, ROCKPORT, MA 01966-2203
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
—
242 Main Street LLC
Scott C Bouchie
Quitclaim Deed
related
—
Oct 20, 2020
$1,452,500
Scott C Bouchie
Rcg 242 Main LLC
Quit Claim Arm's Length For Ne States
$1,162,000 · Cape Ann Savings Bank
Jul 17, 2019
$1,250,000
Rcg 242 Main LLC
Gilbert,gary & Theresa A
Quit Claim Deed
$815,000 · Cambridge Tr
Mar 29, 2019
—
Gary Gilbert
Super Symmetry LLC
Quit Claim Deed
related
—
May 25, 2016
—
Super Symmetry LLC
—
Deed
related
$729,000 · Inst Svgs Newburyport
May 6, 2014
$600,000
Super Symmetry LLC
Fontana RT
Quit Claim Arm's Length For Ne States
$420,000 · Rockport Natl Bank
Feb 6, 2014
—
Fontana RT
—
Deed Of Trust
related
$100,000 · Gloucester Capital Bank
Mar 27, 2003
—
Fontana RT
—
Deed Of Trust
related
$10,000 · Gloucester City
Sep 5, 2001
$245,000
Fontana RT
Ttjb RT
Grant Deed
—
Sep 21, 1994
$325,000
Ttjb RT
Salvatore Sillari Ft
Grant Deed
$325,000 · Zenon Grzybowski
Jul 16, 1993
$210,000
Salvatore Sillari RT
Shipyard RT
Grant Deed
—
Jul 26, 1988
—
Granite Rlty Tr 242
—
Deed Of Trust
related
$625,000 · Somerset Savings Bank
Apr 1, 1988
$695,000
Shipyard Realty Trust
Granite R T 242
Trustees Deed
$100,000 · Zenon Grzybowski
Feb 29, 1988
—
Granite Rlty Tr 242
—
Deed Of Trust
related
$60,000 · Zwi Kohorn
Feb 2, 1988
—
Granite Rlty Tr 242
—
Deed Of Trust
related
$69,699 · Zwi Kohorn
Mar 31, 1987
—
Granite RT 242
—
Deed Of Trust
related
$350,000 · Somerset 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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