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Property profile & analytics
OFF-MARKET
Estimated value
$20,475,000
Office buildings
55 Great Republic Dr Gloucester, MA 01930-2276
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US38-0201788
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
STEEL FRAME
Total area
99,838 SF
Lot
7.48 ac (325,829 SF)
Zoning code
BP
APN
GLOU M:0263 B:0060 L:0000
UPID
US38-0201788
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
-
US Commerce Department Federal Government Office Government
-
NOAA Fisheries Greater Atlantic Regional Fisheries Office (GARFO) Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.31M
Blend (final)
Blend
$20.48M
Owner & transaction history
Ngp V Gloucester Ma LLC · 15 yrs held
Ngp V Gloucester Ma LLC
since 2010
2 recorded transactions
Zoning & alternative use
BP · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$31.9M
+24.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$25,660,000
Current use
APARTMENT HOUSE (5+ UNITS)
$31,920,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$23,915,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$22,565,000
Change: -12% · Conversion: Easy
RETAIL STORES
$22,205,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$20.48M
Range $18.43M – $22.52M · ±10%
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
$205 / 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
$159,712
Tax year 2024
Assessed value
$15,891,700
Assessed 2024
Previous assessed
$15,891,700
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$2,675,900
Assessed improvement
$13,215,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
1
Total area
99,838 SF
Lot
7.48 ac (325,829 SF)
Zoning code
BP
APN
GLOU M:0263 B:0060 L:0000
UPID
US38-0201788
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BP · Gloucester, MA
Zoning BP · permitted uses
BP · 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
OFFICE BUILDING Current
Est. value
$25.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.9M
AUTO REPAIR, GARAGE
Est. value
$23.9M
COMMERCIAL (GENERAL)
Est. value
$22.6M
RETAIL STORES
Est. value
$22.2M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
1
Lot
7.48 ac
Current owner
From public records · entity-resolved
Ngp V Gloucester Ma LLC
Entity
Mailing address
1650 TYSONS BLVD STE #1500, MCLEAN, VA 22102-4845
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2010
$14,000,000
Ngp V Gloucester Ma LLC
Jdl Gloucester LLC
Grant Deed
$63,400,000 · Worth Funding INC
Nov 28, 2006
$496,375
Jdl Gloucester LLC
Gloucester Eco Dev&ind
Deed
$16,703,000 · Wachovi Fncl Svcs INC
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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