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Property profile & analytics
OFF-MARKET
Banks
116 Central St Ipswich, MA 01938-1952
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1337203
Property summary
AI-generated overview
This 1,724 square foot, single-story, Class B building is situated on an 8,188 square foot lot in the heart of downtown Ipswich, Massachusetts, at 116 Central St, 01938. Built in 1969, this vacant property offers a unique opportunity for owner-users. The building features a full, usable basement and a convenient drive-thru, making it ideal for a variety of uses including, but not limited to, a bank, convenience store, or restaurant. Its prime location next to CVS ensures high visibility and accessibility. The property is zoned for business use and presents a rare chance to acquire a freestanding building in a thriving downtown area. The asking price is $700,000. This is a single-unit property with one building.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1969
Construction
FRAME
Total area
3,224 SF
Lot
0.19 ac (8,189 SF)
Zoning code
GB
APN
IPSW M:30D B:077A L:0
UPID
US38-1337203
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
-
Santander Bank ATM Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
116 Central Ipswich LLC · 1 yrs held
116 Central Ipswich LLC
since 2025
1 recorded transaction
Zoning & alternative use
GB · Ipswich, 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 Ipswich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ipswich 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,647
Tax year 2024
Assessed value
$672,000
Assessed 2024
Previous assessed
$672,000
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$325,100
Assessed improvement
$346,900
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1969
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
3,224 SF
Lot
0.19 ac (8,189 SF)
Zoning code
GB
APN
IPSW M:30D B:077A L:0
UPID
US38-1337203
Jurisdiction
IPSWICH
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GB · Ipswich, MA
Zoning GB · permitted uses
GB · Ipswich, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ipswich. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1969
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
116 Central Ipswich LLC
Entity
Mailing address
10 BROOKSIDE RD, CANTON, MA 02021-1661
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2025
$475,000
116 Central Ipswich LLC
Mrw RT
Deed
$676,000 · Salem Five Cents Savings Bank
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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