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Property profile & analytics
FOR LEASE
Office buildings
1 Ballard Way Lawrence, MA 01843
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US38-0588899
For Lease
$900/Mo
1 Ballard Way, Lawrence, MA 01843
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
FRAME
Total area
9,107 SF
Lot
0.82 ac (35,903 SF)
APN
LAWR M:0219 B:0000 L:0006
UPID
US38-0588899
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$1.99M
Owner & transaction history
Stillwater Place LLC · 17 yrs held
Stillwater Place LLC
since 2009
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+34.3%
Apartment house (5+ units)
$2.9M
+24.4%
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 Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,340,000
Current use
RESTAURANT
$3,145,000
Change: +34% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,910,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,180,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.99M
Range $1.79M – $2.18M · ±10%
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
$218 / 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
$22,694
Tax year 2024
Assessed value
$1,171,600
Assessed 2024
Previous assessed
$1,171,600
+0.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$375,500
Assessed improvement
$796,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
6
Total area
9,107 SF
Lot
0.82 ac (35,903 SF)
APN
LAWR M:0219 B:0000 L:0006
UPID
US38-0588899
Jurisdiction
LAWRENCE
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
6
Lot
0.82 ac
Current owner
From public records · entity-resolved
Stillwater Place LLC
Entity
Mailing address
5 BALLARD WAY, LAWRENCE, MA 01843-1060
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2009
—
Stillwater Place LLC
—
Deed Of Trust
related
$200,000 · Lisa A Martin
Jun 4, 2009
$750,000
Stillwater Place LLC
Manny Hajj Realty LLC
Grant Deed
$1 · Enterprise Bank & Trust
Sep 29, 2003
$600,000
Manny Hajj Rlty LLC
Stillwater Ballard RT
Grant Deed
$450,000 · Danvers Savings Bank
Feb 14, 2002
—
Stillwater-ballard RT
—
Deed Of Trust
related
$350,000 · Banknorth NA
Mar 31, 1998
$422,000
Pauline Gagliano
Pascucci,ronald JR
Grant Deed
$400,000 · Zenon Grzybowski
Jul 31, 1995
$395,000
Still Water RT
Mass Cerebral Palsy As
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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