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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Investment properties
262 Main St Gloucester, MA 01930-6022
Individually Owned
3-yr Hold
Free & Clear
Property ID
US38-1543939
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1925
Construction
FRAME
Total area
6,313 SF
Lot
0.09 ac (3,888 SF)
Zoning code
CB
APN
GLOU M:0013 B:0007 L:0000
UPID
US38-1543939
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$895k
Owner & transaction history
262 Main Street RT · 3 yrs held
262 Main Street RT
since 2023
Last sale
$950,600
7 recorded transactions
Zoning & alternative use
CB · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$755,000
ML approach
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,425,000
Current use
RETAIL STORES
$1,405,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$895k
Range $806k – $985k · ±10% · vs last sale $951k (Apr 24 2023)
Last sale anchor
$951k
Apr 24 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
$142 / 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
$7,997
Tax year 2020
Assessed value
$933,500
Assessed 2024
Previous assessed
$933,500
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$321,300
Assessed improvement
$612,200
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
1925
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
2
Units
5
Bathrooms
6
Total area
6,313 SF
Lot
0.09 ac (3,888 SF)
Zoning code
CB
APN
GLOU M:0013 B:0007 L:0000
UPID
US38-1543939
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
$1.4M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
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
1925
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
1
Units
5
Bathrooms
6
Lot
0.09 ac
Current owner
From public records · entity-resolved
262 Main Street RT
Individual
Free & Clear · 3 yrs held
Mailing address
284 SALEM ST, MEDFORD, MA 02155-3311
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2023
—
262 Main Street RT
Michael G Hayes
Quit Claim Deed
related
—
Feb 18, 2022
$950,600
Michael G Hayes
Joseph P Leblanc
Quit Claim Arm's Length For Ne States
—
Sep 11, 2020
$100,300
Joseph P Leblanc
Joseph P Leblanc
Foreclosure
related
—
Feb 11, 2011
$10,273
Gloucester City Of
Green Tavern RT
Grant Deed
—
Aug 12, 2009
—
Cape Ann Lodge 1471 INC
—
Deed Of Trust
related
$25,800 · Cape Ann Histor Assn
Jan 28, 2008
$900,000
Cape Ann Lodge INC
Green Tavern RT
Grant Deed
$680,000 · Gloucester Capital Bank
Jan 28, 2008
—
Cape Ann Lodge INC
—
Deed Of Trust
related
$50,000 · Joseph P Leblanc
Jun 9, 1998
—
Green Tavern RT
—
Deed Of Trust
related
$145,000 · Cape Ann 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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