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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.

More Info

Basic Information

  • Mls StatusActive
  • Parcel Number M:0013 B:0017 L:0000,1893957

Tax Information

  • Tax Year 2026
  • Taxes$8,328

Basic Information

  • List Price$2,590,000
  • MLS Number73533334
  • Modification Date06/14/2026

Location

  • Address222 Main Street
  • Building Number222
  • CountyEssex
  • StateMA
  • StreetMain Street
  • TownGloucester
  • Zip01930

Building

  • Building Area Units Square Feet
  • Utilities Public Water, Public Sewer
  • Year Built1900

Property

  • Acreage0.07

Property Information

  • Lot Size Square Feet 2,927
  • Lot Size Units Acres

Legal

  • ZoningCB
  • Zoning Description Legal Non-Conforming

Other

  • Date Listed06/10/2026
  • Farm Land Area Units Square Feet
  • View Count1

Map Location

Driving Directions

Listed by Stephen Martin of Aluxety

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