Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    73 Rocky Neck Ave, Unit 1 Gloucester, MA 01930

    • Commercial real estate
    • 3,085 SF
    For Sale
    View listing
    $1,500,000
    Last Sale
    Mar 02, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0663320
    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

    • The Rudder / Restaurant
    • Rudder Restaurant / Restaurant / Seafood Restaurant

    Property Details for 73 Rocky Neck Ave

    Year built
    1955
    Property size
    3,085 SF
    Zone code
    NB
    Property type
    Commercial real estate
    APN
    GLOU M:0128 B:0042 L:0001
    APU
    GLOUM0128B0042L0001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,040,000
      6.5%
      $960,000
      7%
      $890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $540,000
      Market price range: $160k - $577k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $695,000
      Current use
      OFFICE BUILDING
      $795,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $740,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $685,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.6561
    Latitude
    42.6073
    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
    2024
    $10,202
    $0.00
    $1,015,100
    $1,015,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      9.74 Acres

      75 Essex Ave

      COMMERCIAL (GENERAL) • 9.74 Acres
      75 Essex Ave, Gloucester, MA 01930-4915
      View Details
    • Value Estimation by Request
      454 SF

      20 Pleasant St Ste D

      COMMERCIAL CONDOMINUIM • 454 SF
      20 Pleasant St Ste D, Gloucester, MA 01930-5938
      View Details
    • Value Estimation
      $4,870,000
      36,185 SF

      1 Blackburn Dr

      SHOW ROOM, WAREHOUSE • 36,185 SF
      1 Blackburn Dr, Gloucester, MA 01930-2237
      View Details
    • Value Estimation by Request
      156.37 Acres

      200th Magnolia Ave

      COMMERCIAL (GENERAL) • 156.37 Acres
      200th Magnolia Ave, Gloucester, MA 01930-2320
      View Details
    • Value Estimation by Request
      0.98 Acres

      50th Maplewood Ave

      COMMERCIAL (GENERAL) • 0.98 Acres
      50th Maplewood Ave, Gloucester, MA 01930-2755
      View Details
    • Value Estimation
      $1,800,000
      1,090 SF

      2 Railroad Ave

      COMMERCIAL CONDOMINUIM • 1,090 SF
      2 Railroad Ave, Gloucester, MA 01930-3541
      View Details

    Similar Nearby for Sale

    • $499,900
      0.05 Acres

      Gloucester Main Street Retail Space

      Prime Retail Space, High Visibility
      C1 Main St, Gloucester, MA 01930
      View Details
    • $3,100,000
      0.16 Acres

      Iconic Gloucester Waterfront Restaurant

      Landmark Restaurant & Residence, High Income Potential
      73 Rocky Nck Ave 1&2, Gloucester, MA 01930
      View Details
    • $1,999,999
      0.20 Acres

      Magnolia Village Mixed-Use Investment

      Oceanfront Multifamily & Retail Opportunity
      13 Flume Rd, Gloucester, MA 01930
      View Details
    • $1,499,000

      Gloucester Development Opportunity on 3.7 Acres

      3.7-acre parcel with income potential and development opportunities in Gloucester.
      368 Essex Ave, Gloucester, MA 01930
      View Details
    • $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
      View Details
    • $1,500,000
      3,085 SF

      Iconic Waterfront Restaurant Opportunity

      Established waterfront restaurant in historic Rocky Neck art colony.
      73 Rocky Neck Ave, Gloucester, MA 01930
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      1,700 SF

      Downtown Magnolia Retail/Office Space

      Corner store location suitable for retail or office use.
      27 Lexington Ave, Gloucester, MA 01930
      View Details
    • Contact for pricing
      3,760 SF

      Gloucester Flex/Industrial Space Available

      3,760 SF flex/industrial space for lease in Gloucester.
      18 Sargent St, Gloucester, MA 01930
      View Details
    • $1,100 /Mo

      Downtown Gloucester Retail Space Available

      700 sq ft commercial space in downtown Gloucester/Magnolia.
      29 Lexington Ave, Gloucester, MA 01930
      View Details
    • $1,500 /Mo
      1,460 SF

      Office Space in Blackburn Center

      1,460sf office space available for rent in Gloucester, MA.
      1-10 Blackburn Ctr, Gloucester, MA 01930
      View Details
    • $3,730 /Mo
      2,758 SF

      Downtown Gloucester Retail/Office Space

      Versatile 2,758 SF space suitable for retail or office.
      186 Gloucester Ave, Gloucester, MA 01930
      View Details
    • $3,730 /Mo

      Downtown Gloucester Retail/Office Space

      Versatile 2,758 SF space in Brown's Mall.
      186 Main St, Gloucester, MA 01930
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    73 Rocky Neck Ave, Unit 1
    Gloucester, MA 01930
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.