New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,490,000
Retail properties & Spaces
1228 Broadway, Saugus, MA 01906-4194
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US38-1444990
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1992
Total area
11,912 SF
Lot
1.15 ac (49,928 SF)
Zoning code
NA
APN
SAUG M:007-D B:0015 L:0001
UPID
US38-1444990
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
-
Walgreens Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
-
TD Bank ATM Atm
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.01M
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$2.49M
Owner & transaction history
Centercorp-saugus LLC · 11 yrs held
Centercorp-saugus LLC
since 2015
4 recorded transactions
Zoning & alternative use
NA · Saugus, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+55.2%
Apartment house (5+ units)
$3.8M
+43.8%
Office building
$3.1M
+15.6%
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 Saugus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saugus 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%
$3,260,000
6.5%
$3,010,000
7%
$2,795,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,650,000
Current use
RESTAURANT
$4,110,000
Change: +55% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,810,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$3,060,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,855,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,170,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.49M
Range $2.24M – $2.74M · ±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
$209 / 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
$60,249
Tax year 2024
Assessed value
$2,732,400
Assessed 2024
Previous assessed
$2,732,400
+0.0% YoY
Effective rate
2.20%
On assessed value
Assessed land
$1,011,900
Assessed improvement
$1,720,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
11,912 SF
Lot
1.15 ac (49,928 SF)
Zoning code
NA
APN
SAUG M:007-D B:0015 L:0001
UPID
US38-1444990
Jurisdiction
SAUGUS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
NA · Saugus, MA
Zoning NA · permitted uses
NA · Saugus, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saugus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
RESTAURANT
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1992
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
1.15 ac
Current owner
From public records · entity-resolved
Centercorp-saugus LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2016
—
Centercorp Saugus LLC
—
Deed
related
$5,565,000 · First Republic Bank
Jun 4, 2015
$4,150,000
Centercorp-saugus LLC
Santoros Sub-villa INC
Quit Claim Deed
$4,237,584 · Callahan & Associates L
May 26, 1992
—
Santoros Sub Villa INC
—
Deed Of Trust
related
$1,300,000 · Franklin Life Insur
May 1, 1992
—
Sub Villa Santoros
—
Deed Of Trust
related
$760,189 · Scott Construction
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1228 Broadway?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
