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Property profile & analytics
OFF-MARKET
Estimated value
$2,840,000
Office Spaces
1165 Washington St Hanover, MA 02339-1640
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US38-1143927
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,472 SF
Lot
1.95 ac (84,942 SF)
Zoning code
C
APN
HANO M:24 L:012
UPID
US38-1143927
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
-
Law Offices of Lipsey & Clifford, P.C. Law Firm
-
Paul Epstein Law Firm
-
Scott J Fitzgerald Attorney Law Firm
-
Tim Haynes, Realtor at KW Signature Properties Real Estate Agency
-
Mary Beth Douglas Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.94M
Comparable Approach
Comparable
$2.80M
Blend (final)
Blend
$2.84M
Owner & transaction history
Hanover Washington LP · 18 yrs held
Hanover Washington LP
since 2008
3 recorded transactions
Zoning & alternative use
C · Hanover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Commercial
General category
COMMERCIAL
Zone area
1,176.90 ac
Source
Realmo
Top alternative use upside
Restaurant
$3.0M
+30.5%
Commercial (general)
$2.6M
+13.8%
Industrial (general)
$2.6M
+12.4%
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%
$4,265,000
6.5%
$3,940,000
7%
$3,655,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,315,000
Current use
RESTAURANT
$3,025,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,635,000
Change: +14% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,605,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$2,380,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,370,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.84M
Range $2.56M – $3.12M · ±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
$248 / 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
$35,469
Tax year 2024
Assessed value
$2,637,100
Assessed 2024
Previous assessed
$2,430,200
+8.5% YoY
Effective rate
1.35%
On assessed value
Assessed improvement
$2,637,100
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
5
Bathrooms
2
Total area
11,472 SF
Lot
1.95 ac (84,942 SF)
Zoning code
C
APN
HANO M:24 L:012
UPID
US38-1143927
Jurisdiction
HANOVER
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
C · Hanover, MAZoning C · permitted uses
C · Hanover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Commercial
General category
COMMERCIAL
Zone area
1,176.90 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.4M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
5
Bathrooms
2
Lot
1.95 ac
Current owner
From public records · entity-resolved
Hanover Washington LP
Entity
Mailing address
PO BOX 610100, NEWTON, MA 02461-0100
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2021
—
Hanover Wa LP
—
Deed
related
$4,126,560 · Eastern Bank
Jul 2, 2008
$4,500,000
Hanover Washington LP
4 Score RT
Grant Deed
$12,000,000 · Gary Needham
Feb 18, 1997
$555,000
Four Score RT
Citizens Bk Of Ma
Grant Deed
$445,000 · Rockland Trust Co
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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