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Property profile & analytics
FOR LEASE
Manufacturing properties
1 Technology Way, Salem, MA 01970
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1883017
For Lease
1 / 2
$11,105,000
1 Technology Way, Salem, MA 01970
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1996
Construction
STEEL FRAME
Total area
84,814 SF
Lot
4.08 ac (177,725 SF)
Zoning code
BPD
APN
SALE M:07 L:0078
UPID
US38-1883017
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
-
Thermal Circuits Inc Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.88M
Comparable Approach
Comparable
$14.76M
Blend (final)
Blend
$11.11M
Owner & transaction history
1 Technology Way Salem Ll · 1 yrs held
1 Technology Way Salem Ll
since 2025
Last sale
$10.1M
7 recorded transactions
Zoning & alternative use
BPD · Salem, 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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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%
$15,035,000
6.5%
$13,880,000
7%
$12,890,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$13,885,000
Current use
WAREHOUSE, STORAGE
$11,925,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$11.11M
Range $9.99M – $12.22M · ±10% · vs last sale $10.13M (Nov 6 2024)
Last sale anchor
$10.13M
Nov 6 2024
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
$131 / 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
$116,808
Tax year 2024
Assessed value
$4,930,700
Assessed 2024
Previous assessed
$4,930,700
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$1,258,300
Assessed improvement
$3,672,400
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
10
Total area
84,814 SF
Lot
4.08 ac (177,725 SF)
Zoning code
BPD
APN
SALE M:07 L:0078
UPID
US38-1883017
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BPD · Salem, MA
Zoning BPD · permitted uses
BPD · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$13.9M
WAREHOUSE, STORAGE
Est. value
$11.9M
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
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
10
Lot
4.08 ac
Current owner
From public records · entity-resolved
1 Technology Way Salem Ll
Individual
Mailing address
1 TECHNOLOGY WAY, SALEM, MA 01970-7002
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
$10,125,000
1 Technology Way Salem Ll
Kak RT
Deed
$7,226,556 · Bank Of New England NA
Jun 27, 2014
—
Kak Realty Trust
City Of Salem
Quit Claim Deed
related
—
Feb 18, 2005
—
Kak RT
—
Deed Of Trust
related
$2,350,000 · Danvers Savings Bank
Nov 28, 2001
—
Kak RT
—
Deed Of Trust
related
$2,400,000 · Hoosac Bank
Jun 29, 1999
—
Kak RT
—
Deed Of Trust
related
$2,300,000 · Hoosac Bank
May 20, 1999
—
Kak RT
—
Deed Of Trust
related
$630,165 · Warren Five Cts Savings
Dec 31, 1997
—
John H Kellogg
—
Deed Of Trust
related
$1,550,000 · Gary Needham
May 7, 1996
—
John H Kellogg
—
Deed Of Trust
related
$638,000 · Certified Dev Co Massachusetts
Nov 3, 1995
$50,000
John Kellogg
Fafard Re & Dev
Grant Deed
—
Nov 3, 1995
—
Kak RT
—
Deed Of Trust
related
$1,550,000 · Gary Needham
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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