Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,205,000
Retail space
114 1st Ave Needham, MA 02494-2805
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-2172472
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
120,787 SF
Lot
5.58 ac (243,065 SF)
Zoning code
NEBC
APN
NEED M:300.0 B:0053 L:0000.0
UPID
US38-2172472
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
-
Restaurant Depot Big Box & Wholesale Store
-
Catz Physical Therapy Institute Physician
-
Jetro Cash & Carry Enterprises Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.19M
Blend (final)
Blend
$14.21M
Owner & transaction history
JMDH REAL EST NEEDHAM LLC
JMDH REAL EST NEEDHAM LLC
Zoning & alternative use
NEBC · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district NEBC is to promote New England Business Center uses.
Zone name
New England Business Center
General category
COMMERCIAL
Zone area
195.27 ac
Source
Realmo
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$14.21M
Range $12.78M – $15.63M · ±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
$118 / 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
$218,297
Tax year 2024
Assessed value
$8,884,700
Assessed 2024
Previous assessed
$8,796,700
+1.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$2,383,800
Assessed improvement
$6,500,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Cooling
YES
Buildings
4
Total area
120,787 SF
Lot
5.58 ac (243,065 SF)
Zoning code
NEBC
APN
NEED M:300.0 B:0053 L:0000.0
UPID
US38-2172472
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
NEBC · Needham, MAZoning NEBC · permitted uses
NEBC · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district NEBC is to promote New England Business Center uses.
Zone name
New England Business Center
General category
COMMERCIAL
Zone area
195.27 ac
Source
Realmo
Building & site characteristics
From public records
Cooling
Yes
Buildings
4
Lot
5.58 ac
Current owner
From public records · entity-resolved
JMDH REAL EST NEEDHAM LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1710 WHITESTONE EXPY, WHITESTONE, NY 11357-3054
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
You own 114 1st Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
