23 Dale AveGloucester, MA 01930

Property Details for 23 Dale Ave

Year built

1900

Construction

FRAME

Lot size

0.21 AC

Property size (Sq ft)

4,200 SF

Zone code

CB

Property type

Investment properties

Property subtype

Live-work space

APN

GLOU M:0014 B:0025 L:0000

APU

GLOUM0014B0025L0000

Description

This exceptional Gloucester property presents a unique investment opportunity. The building boasts three separate office spaces on the ground floor, ideal for a variety of businesses or professional uses. High visibility from its location in bustling downtown Gloucester ensures excellent exposure. The upper levels feature two spacious two-bedroom apartments, providing significant rental income potential or comfortable living quarters. The property's convenient downtown location offers easy access to shopping, dining, and entertainment options. Commuting to Boston is also simplified with nearby train access. The design allows for seamless work-from-home integration, with separate entrances for the office spaces ensuring privacy and convenience. A grand staircase connects the office and residential areas. Ample parking is available, including a two-car garage, addressing a common challenge in urban settings. The 0.21-acre lot provides additional space and potential for future development. This property offers a blend of commercial and residential uses, making it an attractive investment for those seeking a versatile and high-return property in a desirable location. The combination of office space, residential units, and ample parking makes this a truly unique and valuable asset.

• CAP approach

  CAP return

  Valuation

  6%

  $694,385

  6.5%

  $640,971

  7%

  $595,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $548,772

  Geo Method

  $548,772

• Alternative Use

  Use

  Valuation

  Residential

  $794,804

  Hospitality

  $728,036

  Educational

  $605,718

  Medical

  $626,549

  Retail

  $942,228

Location Insight

City

Gloucester

County

Essex

State

Massachusetts

Latitude

42.6152

Longitude

-70.6632

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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