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Property profile & analytics
OFF-MARKET
Estimated value
$26,010,000
Office buildings
115 4th Ave Needham, MA 02494-2725
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1609723
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
78,970 SF
Lot
3.61 ac (157,077 SF)
Zoning code
I
APN
NEED M:300.0 B:0007 L:0000.0
UPID
US38-1609723
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
-
Partners Community Healthcare Insurance Agency
-
FareHarbor (Bike/Boat/Book/etc) Store Corporate Office
-
Syniti (Bike/Boat/Book/etc) Store Corporate Office
-
Dr. Michael T. Myers Jr, MD Physician
-
Affiliated Pediatric Practices Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.44M
Comparable Approach
Comparable
$35.93M
Blend (final)
Blend
$26.01M
Owner & transaction history
115-119 Fourth Avenue LLC · 4 yrs held
115-119 Fourth Avenue LLC
since 2021
Last sale
$26.1M
5 recorded transactions
Zoning & alternative use
I · 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
$35,220,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,805,000
6.5%
$28,435,000
7%
$26,405,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$39,690,000
Current use
RESTAURANT
$33,895,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$26.01M
Range $23.41M – $28.61M · ±10% · vs last sale $26.13M (Dec 31 2021)
Last sale anchor
$26.13M
Dec 31 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
$329 / 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
$287,545
Tax year 2024
Assessed value
$11,703,100
Assessed 2024
Previous assessed
$10,824,100
+8.1% YoY
Effective rate
2.46%
On assessed value
Assessed land
$5,678,300
Assessed improvement
$6,024,800
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
Heating
NONE
Cooling
YES
Buildings
3
Total area
78,970 SF
Lot
3.61 ac (157,077 SF)
Zoning code
I
APN
NEED M:300.0 B:0007 L:0000.0
UPID
US38-1609723
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Needham, MA
Zoning I · permitted uses
I · 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
OFFICE BUILDING Current
Est. value
$39.7M
RESTAURANT
Est. value
$33.9M
OFFICE BUILDING Current
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
Heating
NONE
Cooling
Yes
Buildings
3
Lot
3.61 ac
Current owner
From public records · entity-resolved
115-119 Fourth Avenue LLC
Entity
Mailing address
116 HUNTINGTON AVE STE #600, BOSTON, MA 02116-5745
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2021
$26,125,000
115-119 Fourth Avenue LLC
Div Needham 115 LLC
Quit Claim Arm's Length For Ne States
$28,500,000 · Citizens Bank
Nov 30, 2005
—
Div Needham 115 LLC
—
Deed Of Trust
related
$14,500,000 · American General LLC
Jul 22, 1998
—
Div Needham 115 LLC
—
Deed Of Trust
related
$7,250,000 · Citicorp USA Corp
Jan 22, 1998
—
RT 4th
—
Deed Of Trust
related
$11,600,000 · Fleet National Bank
Nov 16, 1988
—
Damon Corp
—
Deed Of Trust
related
$7,500,000 · Zuckerman Family Nomi
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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