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Property profile & analytics
FOR LEASE
Manufacturing properties
1 Industrial Dr, Danvers, MA 01923
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-0600891
For Lease
1 / 2
$9,165,000
1 Industrial Dr, Danvers, MA 01923
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Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
STEEL FRAME
Total area
46,518 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I2
APN
DANV M:032 L:054 P:
UPID
US38-0600891
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
-
Neutron Therapeutics LLC Production Facility
-
Danvers Industrial Park Factory Production Facility
-
Banner Industries Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.16M
CAP Approach
CAP
$7.61M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.17M
Owner & transaction history
Iv3 1 Industrial Dr LLC · 4 yrs held
Iv3 1 Industrial Dr LLC
since 2022
Last sale
$9.0M
5 recorded transactions
Zoning & alternative use
I2 · Danvers, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$14.9M
+95.3%
Auto repair, garage
$11.1M
+46.3%
Retail stores
$10.3M
+35.8%
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 Danvers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danvers 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
$10,065,000
ML approach
$10,155,000
CAP Approach
CAP Return
Estimation
6%
$8,245,000
6.5%
$7,610,000
7%
$7,070,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,615,000
Current use
APARTMENT HOUSE (5+ UNITS)
$14,875,000
Change: +95% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,145,000
Change: +46% · Conversion: Easy
RETAIL STORES
$10,345,000
Change: +36% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,210,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,540,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$9.17M
Range $8.25M – $10.08M · ±10% · vs last sale $9.00M (Jun 10 2022)
Last sale anchor
$9.00M
Jun 10 2022
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
$197 / 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
$66,119
Tax year 2024
Assessed value
$3,554,800
Assessed 2024
Previous assessed
$3,554,800
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$987,500
Assessed improvement
$2,567,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Lease
Year built
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Bathrooms
5
Total area
46,518 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I2
APN
DANV M:032 L:054 P:
UPID
US38-0600891
Jurisdiction
DANVERS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Danvers, MA
Zoning I2 · permitted uses
I2 · Danvers, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Danvers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.9M
AUTO REPAIR, GARAGE
Est. value
$11.1M
RETAIL STORES
Est. value
$10.3M
COMMERCIAL (GENERAL)
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$6.5M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
5
Lot
2.29 ac
Current owner
From public records · entity-resolved
Iv3 1 Industrial Dr LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1 INDUSTRIAL DR, DANVERS, MA 01923-1039
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2023
—
Iv3 1 Industrial Dr LLC
—
Deed
related
$8,250,000 · Wells Fargo Bank NA
Jun 10, 2022
$9,000,000
Iv3 1 Industrial Dr LLC
Rhino 1 Industrial Invest
Quit Claim Arm's Length For Ne States
—
Mar 2, 2021
$5,800,000
Rhino 1 Industrial Invest
1 Industrial Drive LLC
Quit Claim Arm's Length For Ne States
$4,390,000 · Envision Bank
Jul 11, 2007
$1
B LP
B&b Danvers RT
Grant Deed
—
Jul 11, 2007
$2,950,000
1 Industrial Dr LLC
B&b Danvers Assoc LP
Grant Deed
$2,616,000 · Danvers Savings Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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