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Property profile & analytics
OFF-MARKET
Estimated value
$2,345,000
Industrial properties
431 Main St Gloucester, MA 01930-3006
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1019290
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1985
Construction
STEEL FRAME
Total area
13,577 SF
Lot
0.01 ac (436 SF)
Zoning code
MI
APN
GLOU M:0053 B:0017 L:0000(A)
UPID
US38-1019290
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
$2.64M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$2.35M
Owner & transaction history
427 Main Street LLC · 3 yrs held
427 Main Street LLC
since 2022
Last sale
$2.2M
4 recorded transactions
Zoning & alternative use
MI · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.5M
+85.0%
Auto repair, garage
$3.3M
+72.4%
Commercial (general)
$3.1M
+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
$2,460,000
ML approach
$2,635,000
CAP Approach
CAP Return
Estimation
6%
$2,405,000
6.5%
$2,220,000
7%
$2,065,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,885,000
Current use
OFFICE BUILDING
$3,490,000
Change: +85% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,250,000
Change: +72% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,070,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$3,020,000
Change: +60% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,910,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$2.35M
Range $2.11M – $2.58M · ±10% · vs last sale $2.20M (Nov 23 2022)
Last sale anchor
$2.20M
Nov 23 2022
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
$173 / 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
$10,825
Tax year 2024
Assessed value
$1,077,100
Assessed 2024
Previous assessed
$1,077,100
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed improvement
$1,077,100
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
1985
Construction
STEEL FRAME
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
13,577 SF
Lot
0.01 ac (436 SF)
Zoning code
MI
APN
GLOU M:0053 B:0017 L:0000(A)
UPID
US38-1019290
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
MI · Gloucester, MA
Zoning MI · permitted uses
MI · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$3.1M
RETAIL STORES
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1985
Construction
STEEL FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.01 ac
Current owner
From public records · entity-resolved
427 Main Street LLC
Entity
Mailing address
32 LAUREL ST, GLOUCESTER, MA 01930-2327
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2022
$2,200,000
427 Main Street LLC
Scs Lobster Co LLC
Condominium Deed
$1,760,000 · Bankgloucester (gloucester Coop Ban
Apr 14, 2008
$900,000
Scs Lobster Co LLC
Wright Prtrnshp RT
Grant Deed
$250,000 · Wright Ptnrshp RT
Apr 6, 2007
$375,000
Scs Lobster Co LLC
Connolly Seafood LP
Grant Deed
—
Jun 19, 2003
$1
Connolly Seafood LP
Connolly Wright RT
Grant 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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