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Property profile & analytics
OFF-MARKET
Estimated value
$7,340,000
Office buildings
109 Highland Ave Needham, MA 02494-3091
Entity Owned
9-yr Hold
Free & Clear
Property ID
US38-0380902
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Total area
24,960 SF
Lot
0.67 ac (29,185 SF)
Zoning code
H128
APN
NEED M:074.0 B:0022 L:0000.0
UPID
US38-0380902
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
-
Michael Magerer & Associates: Magerer Michael Law Firm
-
Ketamine Greater Boston Crisis Center Medical Clinic
-
BPM+ Health Business Management Consultant
-
Valmarc Corporation Electronics & Wireless Store
-
Signifier Medical Technologies Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.99M
Comparable Approach
Comparable
$7.89M
Blend (final)
Blend
$7.34M
Owner & transaction history
Kenley Realty Co · 9 yrs held
Kenley Realty Co
since 2016
7 recorded transactions
Zoning & alternative use
H128 · Needham, 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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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%
$9,735,000
6.5%
$8,990,000
7%
$8,345,000
Alternative Use
Use
Estimation
RESTAURANT
$10,715,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$7.34M
Range $6.61M – $8.07M · ±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
$294 / 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
$63,182
Tax year 2024
Assessed value
$2,571,500
Assessed 2024
Previous assessed
$2,449,100
+5.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$1,386,800
Assessed improvement
$1,184,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1978
Heating
NONE
Cooling
YES
Buildings
3
Total area
24,960 SF
Lot
0.67 ac (29,185 SF)
Zoning code
H128
APN
NEED M:074.0 B:0022 L:0000.0
UPID
US38-0380902
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
H128 · Needham, MA
Zoning H128 · permitted uses
H128 · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Needham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$10.7M
RESTAURANT
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
1978
Heating
NONE
Cooling
Yes
Buildings
3
Lot
0.67 ac
Current owner
From public records · entity-resolved
Kenley Realty Co
Entity
Free & Clear · 9 yrs held
Mailing address
109 HIGHLAND AVE STE B3, NEEDHAM, MA 02494-3021
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2016
—
Kenley Realty Co
—
Deed
related
$1,000,000 · Rockland Tr
Nov 16, 2016
$6,050,000
Kenley Realty Co
Highland Property Ptnr Trust
Quit Claim Deed
—
Aug 19, 2016
—
John N Tallarico
—
Deed
related
$350,000 · Santander Bk NA
Feb 21, 1995
$850,000
Highland Ave 109-123
L Petrini & Son INC
Grant Deed
—
Apr 1, 1992
$850,000
Et 191-120
L Petrini & Son INC
Grant Deed
$325,000 · Needham Cp Bank
—
—
Kenley Realty Co
—
Deed Of Trust
related
$1,000,000 · Rockland Tr
—
—
Kenley Realty Co
—
Deed Of Trust
related
$2,000,000 · Rockland Tr
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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