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Property profile & analytics
FOR LEASE
Office buildings
85 Eastern Ave Gloucester, MA 01930
Entity Owned
~
Est. High Equity
Property ID
US38-0569082
For Lease
1 / 6
$2,960,000
85 Eastern Ave, Gloucester, MA 01930
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,598 SF
Lot
1.1 ac (47,916 SF)
Zoning code
R-10
APN
GLOU M:0185 B:0149 L:0000
UPID
US38-0569082
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
-
Philpott Doyle & Co PC Accounting Firm Tax Preparation
-
Kindred Gardens Early Learning and Care at Eastern Ave Daycare Center
-
Massage Therapy Alternative Medicine Practice Spa & Massage Center
-
Robert A. Murray, Attorney at Law Law Firm Child Welfare Organization
-
Kiely & Ferrante, LLC Estate Planning Attorney General Practice Attorney
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$2.96M
Owner & transaction history
Rasf LLC
Rasf LLC
since 2025
7 recorded transactions
Zoning & alternative use
R-10 · Gloucester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$4,010,000
Current use
AUTO REPAIR, GARAGE
$3,735,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,525,000
Change: -12% · Conversion: Easy
RETAIL STORES
$3,470,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$2.96M
Range $2.66M – $3.26M · ±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
$190 / 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
$19,340
Tax year 2024
Assessed value
$1,924,400
Assessed 2024
Previous assessed
$1,924,400
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$384,100
Assessed improvement
$1,540,300
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
For Lease
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
34
Bathrooms
2
Total area
15,598 SF
Lot
1.1 ac (47,916 SF)
Zoning code
R-10
APN
GLOU M:0185 B:0149 L:0000
UPID
US38-0569082
Jurisdiction
GLOUCESTER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R-10 · Gloucester, MA
Zoning R-10 · permitted uses
R-10 · 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
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES
Est. value
$3.5M
OFFICE BUILDING Current
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
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
34
Bathrooms
2
Lot
1.1 ac
Current owner
From public records · entity-resolved
Rasf LLC
Entity
Mailing address
85 EASTERN AVE, GLOUCESTER, MA 01930-6512
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2025
$3,000,000
Rasf LLC
Tnr RT
Deed
$2,250,000 · Cape Ann Savings Bank
Jun 3, 2022
—
Tnr RT
—
Deed
related
$1,950,000 · Cape Ann Savings Bank
Oct 11, 2016
—
Tnr Realty Trust
Molinski Frank D Trust
Quit Claim Deed
related
—
Sep 2, 2009
$1
Babson,matthew M Tr
Tnr RT
Grant Deed
—
Nov 10, 1999
—
Tnr RT
—
Deed Of Trust
related
$100,000 · Gloucester Bank & Trust Co
Jul 30, 1999
—
Tnr RT
—
Deed Of Trust
related
$1,250,000 · Gloucester Bank & Trust Co
Feb 9, 1995
—
Tnr RT
—
Deed Of Trust
related
$479,000 · Champlain College INC
Dec 16, 1987
—
Tnr RT
—
Deed Of Trust
related
$250,000 · Beverly Svgs Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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