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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Medical Office Space
117 Chestnut St Needham, MA 02492-2515
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1268136
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1904
Total area
4,014 SF
Lot
0.21 ac (8,999 SF)
Zoning code
CS
APN
NEED M:047.0 B:0077 L:0000.0
UPID
US38-1268136
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
-
Needham Oral Surgery and Implant Center Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.75M
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.70M
Owner & transaction history
117 Chestnut Needham Re H · 3 yrs held
117 Chestnut Needham Re H
since 2023
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
CS · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+253.5%
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 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
$1,750,000
ML approach
$1,750,000
CAP Approach
CAP Return
Estimation
6%
$1,205,000
6.5%
$1,115,000
7%
$1,035,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,625,000
Change: +253% · Conversion: Easy
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10% · vs last sale $1.65M (Mar 1 2023)
Last sale anchor
$1.65M
Mar 1 2023
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
$424 / 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
$40,418
Tax year 2024
Assessed value
$1,645,000
Assessed 2024
Previous assessed
$606,000
+171.5% YoY
Effective rate
2.46%
On assessed value
Assessed improvement
$1,645,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1904
Heating
NONE
Cooling
YES
Buildings
2
Total area
4,014 SF
Lot
0.21 ac (8,999 SF)
Zoning code
CS
APN
NEED M:047.0 B:0077 L:0000.0
UPID
US38-1268136
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
CS · Needham, MA
Zoning CS · permitted uses
CS · 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
Est. value
$1.6M
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
1904
Heating
NONE
Cooling
Yes
Buildings
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
117 Chestnut Needham Re H
Individual
Mailing address
117 CHESTNUT ST, NEEDHAM, MA 02492-2515
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Mar 1, 2023
$1,645,000
117 Chestnut Needham Re H
Beth Israel Deaconess Hos
Quit Claim Arm's Length For Ne States
$1,316,000 · Enterprise Bank & Trust Co
Jan 15, 2021
$1,300,000
Beth Israel Deaconess
Jeffrey A Becker
Quit Claim Arm's Length For Ne States
—
Dec 7, 1987
—
Jeffrey A Becker
—
Deed Of Trust
related
$70,000 · South Shore 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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