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Property profile & analytics
OFF-MARKET
Estimated value
$54,400,000
Warehouses
14 Aegean Dr, Methuen, MA 01844-1557
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-0778827
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Construction
STEEL FRAME
Total area
234,000 SF
Lot
17.55 ac (764,478 SF)
Zoning code
IL
APN
METH M:00412 B:00126B L:00289
UPID
US38-0778827
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
-
Mygrant Glass Co Auto Repair Shop (Bike/Boat/Book/etc) Store
-
Mattress Giant - New England Distribution Center Department Store
-
Hologic Inc Production Facility Factory
-
Boston Mainfreight Air & Ocean Logistics Company Freight Service
-
Boston Mainfreight Transport Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$54.40M
CAP Approach
CAP
$46.50M
Comparable Approach
Comparable
$37.85M
Blend (final)
Blend
$54.40M
Owner & transaction history
Areit Metro North Ic LLC · 2 yrs held
Areit Metro North Ic LLC
since 2024
Last sale
$54.4M
4 recorded transactions
Zoning & alternative use
IL · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$80.8M
+145.5%
Apartment house (5+ units)
$74.8M
+127.4%
Auto repair, garage
$56.1M
+70.4%
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 Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen 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
$54,400,000
ML approach
$54,400,000
CAP Approach
CAP Return
Estimation
6%
$50,375,000
6.5%
$46,500,000
7%
$43,175,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$32,905,000
Current use
RESTAURANT
$80,765,000
Change: +145% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$74,820,000
Change: +127% · Conversion: Difficult
AUTO REPAIR, GARAGE
$56,050,000
Change: +70% · Conversion: Easy
RETAIL STORES
$52,040,000
Change: +58% · Conversion: Moderate
COMMERCIAL (GENERAL)
$42,915,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$39,635,000
Change: +20% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$38,315,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$54.40M
Range $48.96M – $59.84M · ±10% · vs last sale $54.40M (May 10 2024)
Last sale anchor
$54.40M
May 10 2024
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
$232 / 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
$460,118
Tax year 2024
Assessed value
$21,910,400
Assessed 2024
Previous assessed
$21,910,400
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$4,300,200
Assessed improvement
$17,610,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
4
Bathrooms
2
Total area
234,000 SF
Lot
17.55 ac (764,478 SF)
Zoning code
IL
APN
METH M:00412 B:00126B L:00289
UPID
US38-0778827
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IL · Methuen, MA
Zoning IL · permitted uses
IL · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Methuen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$32.9M
RESTAURANT
Est. value
$80.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$74.8M
AUTO REPAIR, GARAGE
Est. value
$56.1M
RETAIL STORES
Est. value
$52.0M
COMMERCIAL (GENERAL)
Est. value
$42.9M
OFFICE BUILDING
Est. value
$39.6M
INDUSTRIAL (GENERAL)
Est. value
$38.3M
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (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
2001
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
4
Bathrooms
2
Lot
17.55 ac
Current owner
From public records · entity-resolved
Areit Metro North Ic LLC
Entity
Free & Clear · 2 yrs held
Mailing address
14 AEGEAN DR, METHUEN, MA 01844-1557
Ownership since
2024
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
May 10, 2024
$54,400,000
Areit Metro North Ic LLC
Reep-ind Aegean Ma LLC
Quit Claim Arm's Length For Ne States
—
Dec 17, 2014
$21,000,000
Reep Ind Aegean Ma LLC
14 Aegean Drive LLC
Quit Claim Deed
—
Nov 4, 2014
—
Aew Lt 14 Aegean Dr LLC
Aew Lt Acquisition Co LLC
Quit Claim Deed
related
—
Jan 26, 2006
$18,350,000
Aew Lt Acquisition Co LLC
Bost Industrial-aegea LLC
Grant Deed
—
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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