Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15 Aegean Dr Methuen, MA 01844-1558

    • Warehouses
    • 36,000 SF
    • 4.31 lot acres
    OFF-MARKET
    Value Estimations
    $3,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0371937
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rotech / Production Facility
    • Merrimack Valley Corp. / HVAC Service / General Contractor
    • Northern Lights / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store
    • Climate Design Systems, LLC / HVAC Service / General Contractor
    • Mallory Safety & Supply / Building Supply / General Contractor

    Property Details for 15 Aegean Dr

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    4.31 lot acres
    Property size
    36,000 SF
    Zone code
    IL
    Property type
    Warehouses
    APN
    METH M:00412 B:00126B L:00289D
    APU
    METHM00412B00126BL00289D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,903,000
      Market price range: $2.26M - $7.73M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $5,060,000
      Current use
      OFFICE BUILDING
      $6,095,000
      Change: +20% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,895,000
      Change: +16% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Methuen
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.215
    Latitude
    42.7319
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $59,602
    $1,056,100
    $1,782,100
    $2,838,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $575,000
      101,960 SF

      57 Chase St

      WAREHOUSE, STORAGE • 101,960 SF
      57 Chase St, Methuen, MA 01844-3771
      View Details
    • Value Estimation
      $865,000
      5,892 SF

      101 Lindberg Ave

      WAREHOUSE, STORAGE • 5,892 SF
      101 Lindberg Ave, Methuen, MA 01844-2466
      View Details
    • Value Estimation
      $4,600,000
      28,754 SF

      25 Calumet Rd

      WAREHOUSE, STORAGE • 28,754 SF
      25 Calumet Rd, Methuen, MA 01844-6009
      View Details
    • Value Estimation
      $6,615,000
      77,906 SF

      31 Danton Dr

      WAREHOUSE, STORAGE • 77,906 SF
      31 Danton Dr, Methuen, MA 01844-1513
      View Details
    • Value Estimation by Request
      5,850 SF

      30th Hampshire St

      WAREHOUSE, STORAGE • 5,850 SF
      30th Hampshire St, Methuen, MA 01844-6828
      View Details
    • Value Estimation by Request
      0.72 Acres

      422 Broadway

      BULK STORAGE, TANKS • 0.72 Acres
      422 Broadway, Methuen, MA 01844
      View Details

    Similar Nearby for Sale

    • $3,000,000
      16.28 Acres

      Methuen Industrial Land - I-93 Frontage

      16 Acres, I-93 Access, Industrial Zoning
      0 Lindberg Ave, Methuen, MA 01844
      View Details
    • Contact for pricing
      52,700 SF

      52,700 SF Flex Building

      52,700 SF flex building on 6.9 acres for sale.
      Methuen, MA 01844
      View Details
    • Contact for pricing
      11.00 Acres

      Methuen Industrial Land - 11 Acres

      Prime Industrial Land, Excellent Location
      143 Pleasant Valley St, Methuen, MA 01844
      View Details
    • Contact for pricing
      2.00 Acres

      Prime Methuen Commercial Land

      2 Acres, I-93 Access, High Traffic
      248 Haverhill St, Methuen, MA 01844
      View Details
    • Contact for pricing

      Two-Family Home Near Route 110

      Two-unit property with updated kitchens/baths, garage, and ample parking.
      14-16 Cypress Ave, Methuen, MA 01844
      View Details
    • $775,000

      Mixed-Use Property Near Route 28

      Three-unit property with residential and commercial spaces, convenient location.
      69 Broadway, Methuen, MA 01844
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Drive-In Drive-Out Bay Warehouse

      Warehouse space featuring drive-in/drive-out bay, radiant heat, and keypad entry.
      15 Mcgrath Rd, Methuen, MA 01844
      View Details
    • Contact for pricing

      New Industrial Space Available

      New industrial space for lease with flexible subdivision options.
      46 Old Ferry Rd, Methuen, MA 01844
      View Details
    • Contact for pricing
      95,700 SF

      Future Warehouse/Distribution Building

      95,700 SF warehouse/distribution building available Q4 2025.
      600 Griffin Brook Dr, Methuen, MA 01844
      View Details
    • Contact for pricing
      3,300 SF

      Versatile Warehouse Space Available

      3,300 SF warehouse space for lease near major highways.
      1111 Riverside Dr, Methuen, MA 01844
      View Details
    • Contact for pricing

      Downtown Methuen Office Space Available

      Centrally located office space in downtown Methuen for rent.
      5 Pleasant St, Methuen, MA 01844
      View Details
    • Contact for pricing
      2,200 SF

      Office and Warehouse Space Available

      Two-story office and warehouse space in Valley Office Park.
      13 Branch St, Methuen, MA 01844
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15 Aegean Dr
    Methuen, MA 01844-1558
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!