Individually Owned Property summary
AI-generated overview
Exceptional waterfront development opportunity in Essex, MA, encompassing 1.09 acres of adjacent lots currently housing a restaurant and motel/inn. This unique property boasts 17 private dock slips on the Essex River, offering picturesque views of Cranes Beach and Hog Island. The site is conveniently located on town water and sewer, and features ample parking, with the possibility of acquiring additional adjacent parking. The property's prime location along the Essex Causeway provides easy access to local restaurants, shopping, and marinas, as well as major roadways including Routes 133, 22, 1A, and 95. This presents endless possibilities for redevelopment, such as waterfront condominiums. The property is currently occupied, and showings are by appointment only. Prospective buyers are responsible for conducting their own due diligence. Asking price: $5,900,000. Located at 122 & 132 Main St, Essex, MA 01929.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1925
Construction
FRAME
Total area
4,800 SF
Lot
0.3 ac (13,051 SF)
Zoning code
C00
APN
ESSE M:136 L:3
UPID
US38-0866438
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$948k
Blend (final)
Blend
$960k
Owner & transaction history
since 2026
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
C00 · Essex, MA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$960k
Value range
$864k – $1.06M
±10% around blend
Estimated value / SF
$200 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
70
$864k
blend $960k
$1.06M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,800 SF
Lot area
0.3 ac
Year built
1925
Stories
1
APN
ESSE M:136 L:3
Zoning
C00
Assessed value
$1,660,500
Annual tax
$22,118
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$722k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.2 mi away · 4,643 SF
14.9 mi away · 3,678 SF
17.6 mi away · 3,562 SF
19.2 mi away · 5,217 SF
19.8 mi away · 5,422 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$960k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 127 sales
$345
-42%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $200/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.05M
Move the market yield to see immediate price impact.
Value / SF
$219
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$66k
$1.32M
$945k
$735k
$74k
$1.47M
$1.05M
$817k
$81k
$1.62M
$1.16M
$898k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$552k
5.6 mi · Sep 2025 · $144/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$22,118
Tax year 2024
Assessed value
$1,660,500
Assessed 2024
Previous assessed
$930,100
+78.5% YoY
Effective rate
1.33%
On assessed value
Assessed land
$1,257,600
Assessed improvement
$402,900
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1925
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
5
Total area
4,800 SF
Lot
0.3 ac (13,051 SF)
Zoning code
C00
APN
ESSE M:136 L:3
UPID
US38-0866438
Jurisdiction
ESSEX
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
C00 · Essex, MAZoning C00 · permitted uses
C00 · Essex, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1925
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
5
Lot
0.3 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C00
Jurisdiction
Essex, MA
Recorded code
C00
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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