Attention Investors and Developers! Seize this exceptional chance to transform a strategic property located in the vibrant heart of downtown Gloucester. Just one block from the picturesque harbor, this 12,000 sf building has ocean views from its upper levels,Constructed with solid steel beam and cement, this property offers the durability needed for a range of potential uses—subject to city approvals—including luxury condominiums, apartments, a boutique hotel, upscale restaurant, or retail space. The interior has been gutted, providing a blank slate ready for reconstruction to suit your design.Property includes a full parking lot with 20 spaces accessible from Middle Street, a rare asset in such a prime location. The surrounding area is a bustling hub, with local shops, renowned restaurants, parks, music venues, marinas, beaches, and supermarkets all within walking distance. The property is located in an economic opportunity zone for potential tax benefits.
150 Main Street, Gloucester, MA, 01930
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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