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Property profile & analytics
FOR LEASE
Retail properties & Spaces
1131 Washington St, Hanover, MA 02339
Entity Owned
1-yr Hold
Free & Clear
Property ID
US38-0385451
For Lease
1 / 2
$13 SF/Yr
1131 Washington St, Hanover, MA 02339
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1984
Construction
STEEL FRAME
Total area
6,000 SF
Lot
1.08 ac (47,045 SF)
Zoning code
B
APN
HANO M:24 L:023
UPID
US38-0385451
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
-
Namco Pools (Bike/Boat/Book/etc) Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.52M
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.66M
Owner & transaction history
Arba One LLC · 1 yrs held
Arba One LLC
since 2024
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
B · Hanover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+27.1%
Commercial (general)
$1.4M
+10.8%
Industrial (general)
$1.4M
+9.5%
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 Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover 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%
$1,645,000
6.5%
$1,515,000
7%
$1,410,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,245,000
Current use
RESTAURANT
$1,580,000
Change: +27% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,380,000
Change: +11% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,360,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,240,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,210,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.66M
Range $1.49M – $1.82M · ±10% · vs last sale $1.90M (Aug 20 2024)
Last sale anchor
$1.90M
Aug 20 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
$276 / 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
$15,813
Tax year 2024
Assessed value
$1,175,700
Assessed 2024
Previous assessed
$1,100,100
+6.9% YoY
Effective rate
1.34%
On assessed value
Assessed land
$448,600
Assessed improvement
$727,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
2
Total area
6,000 SF
Lot
1.08 ac (47,045 SF)
Zoning code
B
APN
HANO M:24 L:023
UPID
US38-0385451
Jurisdiction
HANOVER
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Hanover, MA
Zoning B · permitted uses
B · Hanover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
2
Lot
1.08 ac
Current owner
From public records · entity-resolved
Arba One LLC
Entity
Free & Clear · 1 yrs held
Mailing address
800 HINGHAM ST, ROCKLAND, MA 02370-1074
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2024
$1,900,000
Arba One LLC
James P Smith
Deed
—
Nov 20, 2024
—
James P Smith
Weymouth Street T
Quitclaim Deed
related
—
Aug 12, 2016
—
113 Washington Street Realt Trust
Aramis Assos LLC
Quit Claim Deed
related
—
Aug 12, 2016
$1,350,000
Weymouth,street Trust
1131 Washington St Re Trust
Quit Claim Deed
—
Mar 31, 2015
$700,000
1131 Washington Street Real Trust
Aramis Assos LLC
Quit Claim Deed
—
Sep 3, 1993
$444,500
Aramis Assos
Multiflex Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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