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222 Main StGloucester, MA 01930

Essex County

$2,590,000List price
1900Year built
0.07Acre lot
3 months agoOn market

Description

10-unit downtown Gloucester, consisting of 7 residential units & 3 commercial units w/ strong in-place income and long-term upside. The property generates approximately $262,920 in gross annual income w/ operating expenses of ~$71,000, delivering an attractive 7.4% cap rate; increasingly difficult to find in today’s market. Lead compliant certificates for 7 residential units. This asset has been significantly improved, featuring a new roof, updated siding, newer windows, and a rebuilt rear deck, minimizing near-term capital expenditures. Highly walk-able downtown location, tenants benefit from proximity to shops, restaurants, the waterfront, and public transportation supporting strong rental demand across both residential and commercial units. Ideal for an investor seeking stable cash flow with upside, or a 1031 exchange buyer looking to trade into a larger, higher-performing asset in a prime coastal market.

Property Information

Property type
Commercial Sale
Year built
1900
Lot size
0.07 acres
Zoning
CB
Days on market
111
MLS® Listing#
73533334

Property Features

Sewer
Public Sewer
Water source
Public

Financial Details

HOA
None
Annual taxes
$8,328Tax year 2026
Parcel number
M:0013 B:0017 L:0000,1893957

Directions

Main Street

Listing Courtesy: Aluxety - 8008063212

Presented by: Stephen Martin

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