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Property profile & analytics
OFF-MARKET
Estimated value
$30,995,000
Warehouses
11 Forbes Rd Northborough, MA 01532-2501
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0649680
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
STEEL FRAME
Total area
209,220 SF
Lot
19.33 ac (842,093 SF)
Zoning code
I
APN
NBOR M:0150 L:0016
UPID
US38-0649680
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
-
Genzyme Northborough Operations Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$37.51M
Comparable Approach
Comparable
$25.92M
Blend (final)
Blend
$31.00M
Owner & transaction history
Wcv 11 Forbes LLC · 5 yrs held
Wcv 11 Forbes LLC
since 2021
Last sale
$33.0M
7 recorded transactions
Zoning & alternative use
I · Northborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$39.4M
+87.9%
Retail stores
$32.8M
+56.4%
Auto repair, garage
$32.1M
+52.9%
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 Northborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northborough 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
$32,510,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$40,630,000
6.5%
$37,505,000
7%
$34,830,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$20,990,000
Current use
RESTAURANT
$39,445,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$32,825,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$32,100,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$28,450,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$26,405,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$25,100,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$23,025,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$31.00M
Range $27.90M – $34.09M · ±10% · vs last sale $33.00M (Feb 17 2021)
Last sale anchor
$33.00M
Feb 17 2021
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
$148 / 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
$440,839
Tax year 2024
Assessed value
$30,871,100
Assessed 2024
Previous assessed
$30,871,100
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed improvement
$30,871,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
6
Total area
209,220 SF
Lot
19.33 ac (842,093 SF)
Zoning code
I
APN
NBOR M:0150 L:0016
UPID
US38-0649680
Jurisdiction
NORTHBOROUGH
Zoning & alternative use
I · Northborough, MA
Zoning I · permitted uses
I · Northborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$21.0M
RESTAURANT
Est. value
$39.4M
RETAIL STORES
Est. value
$32.8M
AUTO REPAIR, GARAGE
Est. value
$32.1M
OFFICE BUILDING
Est. value
$28.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$25.1M
COMMERCIAL (GENERAL)
Est. value
$23.0M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
SPACE
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
6
Lot
19.33 ac
Current owner
From public records · entity-resolved
Wcv 11 Forbes LLC
Entity
Mailing address
313 WASHINGTON ST STE #301, NEWTON, MA 02458-1626
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2021
—
Wcv- 11 Forbes LLC
—
Deed
related
$20,295,000 · Bbva USA
Feb 17, 2021
$33,000,000
Wcv 11 Forbes LLC
Cegm Northborough LLC
Quit Claim Arm's Length For Ne States
—
Aug 1, 2016
—
Cegm Northborough LLC
—
Deed
related
$7,500,000 · Peoples United Bank
Mar 18, 2016
$20,875,000
Cegm Northborough LLC
Gn 11 Forbes Road LLC
Quit Claim Deed
—
May 24, 2010
$17,500,000
Gn11 Forbes Road LLC
11 Forbes Road LLC
Grant Deed
—
May 27, 2005
$1
11 Forbes Road LLC
Leavitt LLC
Grant Deed
—
May 27, 2005
—
11 Forbes Road LLC
—
Deed Of Trust
related
$297,166,654 · Sovereign Bank
May 11, 1999
—
1999 Leavitt LLC
—
Deed Of Trust
related
$9,887,500 · Ge Capital Business
Dec 4, 1992
—
1979 Leavitt Trust
—
Deed Of Trust
related
$7,275,000 · Bankboston Development Co LLC
Oct 30, 1987
—
1979 Leavitt Trust
—
Deed Of Trust
related
$8,242,000 · Bankboston Development Co LLC
—
—
American United Life Ins
—
Loan Modification
related
$8,900,000 · Gn11 Forbes Road LLC
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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