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Property profile & analytics
OFF-MARKET
Estimated value
$1,225,000
Motels
28 Rockport Rd Gloucester, MA 01930
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-0853085
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,470 SF
Lot
0.81 ac (35,174 SF)
Zoning code
EB
APN
GLOU M:0178 B:0028 L:0000
UPID
US38-0853085
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
$1.54M
CAP Approach
CAP
$975k
Comparable Approach
Comparable
$742k
Blend (final)
Blend
$1.23M
Owner & transaction history
Edmk Hldg INC · 4 yrs held
Edmk Hldg INC
since 2021
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
EB · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Extensive Business Districts are located along collector streets in various areas of the city. Business, service and retail uses serving a regional clientele are allowed; residential uses are generally not allowed.
Zone name
Extensive Business
General category
COMMERCIAL
Zone area
275.91 ac
Source
Realmo
Top alternative use upside
Industrial (general)
$1.6M
+140.0%
Restaurant
$1.5M
+128.9%
Retail stores
$1.5M
+125.8%
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
$1,585,000
ML approach
$1,540,000
CAP Approach
CAP Return
Estimation
6%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,585,000
Change: +140% · Conversion: Difficult
RESTAURANT
$1,510,000
Change: +129% · Conversion: Difficult
RETAIL STORES
$1,490,000
Change: +126% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,380,000
Change: +109% · Conversion: Difficult
OFFICE BUILDING
$1,370,000
Change: +108% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,170,000
Change: +77% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,105,000
Change: +67% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.10M – $1.35M · ±10% · vs last sale $1.25M (Sep 30 2021)
Last sale anchor
$1.25M
Sep 30 2021
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
$117 / 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
$19,870
Tax year 2024
Assessed value
$1,977,100
Assessed 2024
Previous assessed
$1,977,100
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$1,062,800
Assessed improvement
$914,300
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
2
Units
10
Bathrooms
9
Total area
10,470 SF
Lot
0.81 ac (35,174 SF)
Zoning code
EB
APN
GLOU M:0178 B:0028 L:0000
UPID
US38-0853085
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
EB · Gloucester, MAZoning EB · permitted uses
EB · Gloucester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Extensive Business Districts are located along collector streets in various areas of the city. Business, service and retail uses serving a regional clientele are allowed; residential uses are generally not allowed.
Zone name
Extensive Business
General category
COMMERCIAL
Zone area
275.91 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$1.6M
RESTAURANT
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
INDUSTRIAL (GENERAL)
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Buildings
1
Units
10
Bathrooms
9
Lot
0.81 ac
Current owner
From public records · entity-resolved
Edmk Hldg INC
Entity
Free & Clear · 4 yrs held
Mailing address
49 RIVERSIDE AVE, GLOUCESTER, MA 01930-2552
Ownership since
2021
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
Dec 22, 2021
—
Edmk Hldg INC
—
Deed
related
$3,250,000 · Enterprise Bank & Trust Co
Sep 30, 2021
$1,250,000
Edmk Hldg INC
Silva RT
Quit Claim Arm's Length For Ne States
—
Sep 19, 2018
—
Shoreside Inv Grp
Procaccini Angelina
Quit Claim Deed
related
$422,500 · Cape Ann Svgs Bk
Sep 13, 2018
$650,000
Shoreside Investment G
Angelina Procaccini Re
Quit Claim Arm's Length For Ne States
$422,500 · Cape Ann Savings Bank
Sep 6, 2016
—
A Pro Realty Trust
Procaccini,antonio & Mary
Quit Claim 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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