Individually Owned 
For Sale
1 / 19
$1,500,000
73 Rocky Neck Ave,Unit 1, Gloucester, MA 01930
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Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1955
Total area
3,085 SF
Zoning code
NB
APN
GLOU M:0128 B:0042 L:0001
UPID
US38-0663320
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$960k
Comparable Approach
Comparable
$540k
Blend (final)
Blend
$460k
Owner & transaction history
since 2022
3 recorded transactions
Zoning & alternative use
NB · Gloucester, MA
Zoning description
Neighborhood Business Districts are located throughout the city. Residential uses are allowed, as are consumer service and retail businesses serving the residents of the immediate neighborhood.
General category
COMMERCIAL
Top alternative use upside
Office building
$795,000
+13.7%
Auto repair, garage
$740,000
+6.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 25 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$460k
Value range
$414k – $506k
±10% around blend
Estimated value / SF
$149 / SF
Confidence
High
25 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$414k
blend $460k
$506k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,085 SF
Year built
1955
Stories
3
APN
GLOU M:0128 B:0042 L:0001
Zoning
NB
Assessed value
$1,015,100
Annual tax
$10,202
3
Income approach: direct capitalization
Partial preview
Income approach indication
$960k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.04M
@ 6.5% CAP return
$960k
@ 7% CAP return
$890k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$10,202
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$629k
Weighted, 20 comps · high confidence
Evidence
25 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.1 mi away · 2,869 SF
6.3 mi away · 2,395 SF
6.6 mi away · 3,488 SF
12.0 mi away · 3,087 SF
12.4 mi away · 3,624 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$460k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 41 sales
$226
-34%
Submarket 41 sales
$226
-34%
County 725 sales
$199
-25%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $149/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+14%
vs current-use indication
Auto Repair, Garage
Commercial (general) · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 25 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
3.80%
Selected cap rate for this commercial real estate
Derived from the Gloucester market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.80%
9.0%
NOI (est.)
$57k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.50M
Move the market yield to see immediate price impact.
Value / SF
$486
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.30%3.80%4.30%
$51k
$1.56M
$1.35M
$1.19M
$57k
$1.73M
$1.50M
$1.33M
$63k
$1.90M
$1.65M
$1.46M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
25 found
High confidence · county-verified
Closest comparable
$475k
0.1 mi · Mar 2026 · $142/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$10,202
Tax year 2024
Assessed value
$1,015,100
Assessed 2024
Previous assessed
$1,015,100
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed improvement
$1,015,100
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
For Sale
Year built
1955
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Bathrooms
3
Total area
3,085 SF
Zoning code
NB
APN
GLOU M:0128 B:0042 L:0001
UPID
US38-0663320
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
NB · Gloucester, MAZoning NB · permitted uses
NB · Gloucester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Neighborhood Business Districts are located throughout the city. Residential uses are allowed, as are consumer service and retail businesses serving the residents of the immediate neighborhood.
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1955
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Bathrooms
3
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
NB
COMMERCIAL
Jurisdiction
Gloucester, MA
Recorded code
NB
Official district
NB
Official district profile
What the municipal code says about NB
Zoning description
Neighborhood Business Districts are located throughout the city. Residential uses are allowed, as are consumer service and retail businesses serving the residents of the immediate neighborhood.
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NB in Gloucester, MA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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