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    Property profile & analytics

    324 Main St Gloucester, MA 01930-3011

    • Investment properties
    • 1,429 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0704113
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Porcello Law Offices / Law Firm

    Property Details for 324 Main St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.09 lot acres
    Property size
    1,429 SF
    Zone code
    NB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    GLOU M:0012 B:0016 L:0000
    APU
    GLOUM0012B0016L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6553
    Latitude
    42.6161
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $3,461
    $213,400
    $195,800
    $409,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $975,000
      5,172 SF

      6 Cripple Cv Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 5,172 SF
      6 Cripple Cv Ln, Gloucester, MA 01930-1486
      View Details
    • Value Estimation
      $1,325,000
      6,855 SF

      1 Nautilus Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 6,855 SF
      1 Nautilus Rd, Gloucester, MA 01930-3202
      View Details
    • Value Estimation
      $860,000
      4,945 SF

      1 Essex Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,945 SF
      1 Essex Ave, Gloucester, MA 01930-4927
      View Details
    • Value Estimation by Request
      1,536 SF

      444 Essex Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,536 SF
      444 Essex Ave, Gloucester, MA 01930-2029
      View Details
    • Value Estimation
      $1,060,000
      6,268 SF

      55 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,268 SF
      55 Main St, Gloucester, MA 01930-5730
      View Details
    • Value Estimation
      $1,455,000
      7,612 SF

      242 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,612 SF
      242 Main St, Gloucester, MA 01930-6004
      View Details

    Similar Nearby for Sale

    • $3,100,000
      4,845 SF

      Iconic Waterfront Restaurant and Residence

      Established restaurant and waterfront residence in historic Rocky Neck art colony.
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    • $2,089,000
      8,068 SF

      Mixed-Use Building on Main Street

      Mixed-use building with retail and residential units in Gloucester, MA.
      100-102 Main St, Gloucester, MA 01930
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      Mixed-Use Property Near the Ocean

      Mixed-use property with apartments and retail in Magnolia Village.
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    • $839,000
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      Gloucester Three-Family Investment Opportunity

      Three-unit property in Gloucester near transportation and amenities.
      9 Cleveland Pl, Gloucester, MA 01930
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      Cape Ann Medical Building

      Versatile medical building in a prime Gloucester location.
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      Turnkey Restaurant and Bar Opportunity

      135-seat bar and restaurant in prime Gloucester location.
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    Similar Nearby for Lease

    • Contact for pricing

      Premier Shopping Center on North Shore

      Shopping center with national anchors and high traffic volume.
      100 Gloucester Crossing Rd, Gloucester, MA 01930
      View Details
    • $2,400 /Mo
      1,550 SF

      Downtown Gloucester Retail/Office Space

      1,650 SF retail/office space in downtown Gloucester.
      7-11 Pleasant St, Gloucester, MA 01930
      View Details
    • Contact for pricing
      50,000 SF

      Gloucester Flex/Industrial Space Available

      Flexible industrial and office space in Gloucester, Massachusetts.
      11 Dory Rd, Gloucester, MA 01930
      View Details
    • Contact for pricing
      498 SF

      Downtown Gloucester Retail/Office Space

      Redeveloped 498 SF space near harbor, restaurants, and businesses.
      206 Main St, Gloucester, MA 01930
      View Details
    • $18 SF/Yr
      4,217 SF

      Versatile Office Suites with Harbor Views

      Three office suites available for lease with waterfront views.
      11-15 Parker St, Gloucester, MA 01930
      View Details
    • $11 SF/Yr
      3,444 SF

      Office/Flex Space Near Route 128

      Office/flex space suitable for various business uses, convenient location.
      44 Whittemore St, Gloucester, MA 01930
      View Details
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    324 Main St
    Gloucester, MA 01930-3011
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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