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Property profile & analytics
OFF-MARKET
Estimated value
$22,550,000
Manufacturing properties
1 1st Ave, Peabody, MA 01960-4963
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-1301257
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1960
Construction
FRAME
Total area
132,671 SF
Lot
10.09 ac (439,520 SF)
Zoning code
IP
APN
PEAB M:0099 B:0012-B
UPID
US38-1301257
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Spire (Bike/Boat/Book/etc) Store Printing Service
-
24/7 Rapid Water Damage Service Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.71M
Comparable Approach
Comparable
$29.31M
Blend (final)
Blend
$22.55M
Owner & transaction history
83 Fp1 Owner LLC · 2 yrs held
83 Fp1 Owner LLC
since 2023
Last sale
$23.0M
7 recorded transactions
Zoning & alternative use
IP · Peabody, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$31.8M
+46.3%
Retail stores
$29.5M
+35.8%
Commercial (general)
$28.7M
+32.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Peabody submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peabody submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$22,495,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$23,520,000
6.5%
$21,710,000
7%
$20,160,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$21,725,000
Current use
AUTO REPAIR, GARAGE
$31,780,000
Change: +46% · Conversion: Easy
RETAIL STORES
$29,505,000
Change: +36% · Conversion: Moderate
COMMERCIAL (GENERAL)
$28,675,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$24,525,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$18,655,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$22.55M
Range $20.30M – $24.81M · ±10% · vs last sale $23.00M (Jul 27 2023)
Last sale anchor
$23.00M
Jul 27 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$293,498
Tax year 2024
Assessed value
$15,586,700
Assessed 2024
Previous assessed
$15,586,700
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$4,963,200
Assessed improvement
$10,623,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
1
Total area
132,671 SF
Lot
10.09 ac (439,520 SF)
Zoning code
IP
APN
PEAB M:0099 B:0012-B
UPID
US38-1301257
Jurisdiction
PEABODY
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IP · Peabody, MA
Zoning IP · permitted uses
IP · Peabody, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peabody. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$21.7M
AUTO REPAIR, GARAGE
Est. value
$31.8M
RETAIL STORES
Est. value
$29.5M
COMMERCIAL (GENERAL)
Est. value
$28.7M
OFFICE BUILDING
Est. value
$24.5M
WAREHOUSE, STORAGE
Est. value
$18.7M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
1
Lot
10.09 ac
Current owner
From public records · entity-resolved
83 Fp1 Owner LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1 1ST AVE, PEABODY, MA 01960-4963
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2024
—
83 Fp1 Owner LLC
—
Deed
related
$92,150,000 · Sumitomo Mitsui Banking Corporation
Jul 27, 2023
$23,000,000
83 Fp1 Owner LLC
Mcp III Peabody LLC
Quit Claim Arm's Length For Ne States
—
Oct 21, 2019
$14,600,000
Mcp 3 Peabody LLC
Bmip Ll LLC
Quit Claim Arm's Length For Ne States
$65,892,500 · Webster Bank
Oct 18, 2016
$9,500,000
Bmip Ll LLC
Nv 1 1st Peabody LLC
Quit Claim Deed
$37,050,000 · Miscellaneous Ins Co
Aug 17, 2015
$8,100,000
Nv 1 First Peabody LLC
Apca First Peabody LLC
Quit Claim Arm's Length For Ne States
$5,265,000 · Needham Cooperative Bank
May 23, 2007
$7,785,000
Apca 1st Peabody LLC
Taurus Peabody Invest
Deed
$5,000,000 · Td Banknorth Mtg Grp
Jun 29, 2004
$4,900,000
Taurus Peabody Investors
1 1st Ave Peabody
Grant Deed
$4,000,000 · Gary Needham
Mar 27, 1998
—
1 1st Avenue Peab LLC
—
Deed Of Trust
related
$3,750,000 · Liberty Mortgage Co INC
Sep 11, 1997
$5,800,000
One First Ave Peab LLC
Tricentennial Eagle LP
Grant Deed
related
—
Sep 11, 1997
—
One First Ave Peab LLC
—
Deed Of Trust
related
$3,100,000 · Mugar Family 1995 LP
Jun 10, 1988
$4,187,500
Tricentennial Eagle Lt
Stern Fam Tr
Grant Deed
$6,000,000 · Woburn Five Cent Savings
Apr 5, 1988
—
Milton Can Company INC
—
Deed Of Trust
related
$11,000,000 · Baybank Middlesex
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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