97-99 East Main
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 6, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Sep 10, 2025 | Listed by Gibson Sotheby's International Realty | $799,000 | |
| Listed by Gibson Sotheby's International Realty | |||
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97 & 99 East Main Street combine a classic 1900 Colonial (approx. 1,941 sq. ft., 5 bedrooms) with an adjoining lot in the Marine Industrial (MI) zone. Overlooking Cripple Cove and the harbor, the property has been home to Cripple Cove Studios and offers flexible space for residential, live/work, or creative use (subject to city approvals). The Colonial retains charm and scale with room for updates, while the additional lot expands potential for parking, gardens, or marine-related endeavors. Enjoy harbor views, off-street parking, and a convenient location close to downtown Gloucester, Route 128, and the commuter rail. A rare opportunity to blend historic character with future possibilities on Gloucester’s working waterfront.
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| Jun 3, 2019 | Sold | ||
| Sold | |||
| Mar 25, 2019 | Listed by North Shore's Gold Coast Realty | $429,000 | |
| Listed by North Shore's Gold Coast Realty | |||
| Oct 24, 2001 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017