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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Industrial properties
1 Melvin St 2A Wakefield, MA 01880-2577
Entity Owned
17-yr Hold
Free & Clear
Property ID
US38-0753666
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1987
Construction
STEEL FRAME
Total area
4,655 SF
Zoning code
I
APN
WAKE M:000017 B:0018 P:19252A
UPID
US38-0753666
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
-
1 Melvin Street General Contractor Renovation Specialist
-
Precision Auto Works Auto Repair Shop
-
GEM Plumbing and Heating Plumbing Service General Contractor
-
R.C. Enterprise Inc. Construction Company General Contractor
-
The Law Office of Franceska J. O'Reilly Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$760k
Comparable Approach
Comparable
$353k
Blend (final)
Blend
$545k
Owner & transaction history
M&k Siepka LLC · 17 yrs held
M&k Siepka LLC
since 2009
1 recorded transaction
Zoning & alternative use
I · Wakefield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Wakefield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wakefield 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%
$825,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$715,000
Current use
WAREHOUSE, STORAGE
$675,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$117 / 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
$10,331
Tax year 2024
Assessed value
$476,100
Assessed 2024
Previous assessed
$476,100
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed improvement
$476,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Rooms
3
Bathrooms
2
Total area
4,655 SF
Zoning code
I
APN
WAKE M:000017 B:0018 P:19252A
UPID
US38-0753666
Jurisdiction
WAKEFIELD
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Wakefield, MA
Zoning I · permitted uses
I · Wakefield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wakefield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$715,000
WAREHOUSE, STORAGE
Est. value
$675,000
INDUSTRIAL (GENERAL) Current
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Rooms
3
Bathrooms
2
Current owner
From public records · entity-resolved
M&k Siepka LLC
Entity
Free & Clear · 17 yrs held
Mailing address
201 ELLIOTT ST UNIT #508, BEVERLY, MA 01915-3561
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2009
$1,300,000
M&k Siepka LLC
Cradillo Dev RT
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.
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