Building 1 | 27 Kondelin Rd
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Building 1 27 Kondelin Rd
10,750 SF 100% Leased Industrial Building Gloucester, MA 01930 $4,000,000 ($372/SF) 5.15% Cap Rate
Virtual Tour
Investment Highlights
- 27 Kondelin Road is a turnkey, income-generating investment opportunity located less than an hour from Downtown Boston, New Hampshire, and Maine.
- Property features include ample surface parking, unit climate control, 24-hour security camera observation, night lighting, and tenant-paid utilities.
- Spread across four buildings, the property features exceptionally maintained personal storage units and fully leased high-bay industrial units.
- Located just off the Western Avenue/Route 127 corridor in an industrialized area surrounded by an affluent population within the immediate vicinity.
Executive Summary
27 Kondelin Road combines exceptionally maintained personal storage and high-bay industrial units in Gloucester, Massachusetts. The four-building complex is 10,750 square feet and fully leased. This is a premier opportunity to purchase a turnkey, income-generating investment property.
All buildings have legal certificates of occupancy from a diversified tenant roster that includes automotive service businesses, a medical fabricator, and more. The high-bay units feature large industrial units, and the self-storage facility offers direct door drive-up and climate control. Tenants pay their own utilities and enjoy on-site parking, 24-hour security camera observation, night lighting, large unit interior lighting, and city water.
27 Kondelin Road is in an industrialized area within moments of Westen Avenue/Route 127. From the property, arrive Downtown Boston, New Hampshire, and Maine in less than an hour's drive. An affluent population of approximately 1,180 residents lives within a mile of 27 Kondelin Road, representing an average household income that exceeds $166,500 per year.
All buildings have legal certificates of occupancy from a diversified tenant roster that includes automotive service businesses, a medical fabricator, and more. The high-bay units feature large industrial units, and the self-storage facility offers direct door drive-up and climate control. Tenants pay their own utilities and enjoy on-site parking, 24-hour security camera observation, night lighting, large unit interior lighting, and city water.
27 Kondelin Road is in an industrialized area within moments of Westen Avenue/Route 127. From the property, arrive Downtown Boston, New Hampshire, and Maine in less than an hour's drive. An affluent population of approximately 1,180 residents lives within a mile of 27 Kondelin Road, representing an average household income that exceeds $166,500 per year.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum and Financials
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,000,000 | Lot Size | 2.04 AC |
| Price Per SF | $372 | Rentable Building Area | 10,750 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.15% | Year Built | 2005 |
| Property Type | Industrial | Parking Ratio | 1.4/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 25 FT |
| Building Class | B | No. Drive In / Grade-Level Doors | 6 |
| Price | $4,000,000 |
| Price Per SF | $372 |
| Sale Type | Investment |
| Cap Rate | 5.15% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 2.04 AC |
| Rentable Building Area | 10,750 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Parking Ratio | 1.4/1,000 SF |
| Clear Ceiling Height | 25 FT |
| No. Drive In / Grade-Level Doors | 6 |
Amenities
- 24 Hour Access
- Fitness Center
- Floor Drains
- Mezzanine
- Security System
- Signage
- Storage Space
Utilities
- Lighting
- Gas - Propane
- Water - City
- Sewer - Septic Field
- Heating - Gas
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Boston
694,583
39
1 h 0 m
New York
8,398,748
240
5 h 14 m
Philadelphia
1,584,138
336
7 h 5 m
Baltimore
602,495
435
8 h 60 m
Washington
702,455
470
9 h 47 m
Virginia Beach
450,189
594
12 h 42 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
143,264
Total Labor Force
82,936
Unemployment Rate
2.64%
Median Household Income
$96,553
Warehouse Employees
8,753
High School Education Or Higher
95.90%
PROPERTY TAXES
| Parcel Number | GLOU-000197-000014 | Improvements Assessment | $459,200 |
| Land Assessment | $134,000 | Total Assessment | $593,200 |
PROPERTY TAXES
Parcel Number
GLOU-000197-000014
Land Assessment
$134,000
Improvements Assessment
$459,200
Total Assessment
$593,200
zoning
| Zoning Code | General Industrial (Unlimited use, 24/7 access 365.) |
| General Industrial (Unlimited use, 24/7 access 365.) |
Sale Advisors
Sale Advisors
(978) 879-6050
Contact
Ralph Hobbs, Owner
(978) 879-6050
Contact
Ralph Hobbs is a real estate developer for both residential and commercial properties. He has many years of experience and owns laundromats, dry cleaners, and a septic system business. Ralph Hobbs also has a general contractor license.
-
Ralph Hobbs -
Keven Hobbs
- Main Deck Properties Inc.
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Building 1 | 27 Kondelin Rd
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