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Property profile & analytics
OFF-MARKET
Estimated value
$3,710,000
Warehouses
15 Aegean Dr, Methuen, MA 01844-1558
Individually Owned
27-yr Hold
~
Est. High Equity
Property ID
US38-0371937
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
STEEL FRAME
Total area
36,000 SF
Lot
4.31 ac (187,744 SF)
Zoning code
IL
APN
METH M:00412 B:00126B L:00289D
UPID
US38-0371937
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.90M
Blend (final)
Blend
$3.71M
Owner & transaction history
T Llm · 27 yrs held
T Llm
since 1998
7 recorded transactions
Zoning & alternative use
IL · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.1M
+20.5%
Industrial (general)
$5.9M
+16.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$3.71M
Range $3.34M – $4.08M · ±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
$103 / 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
$59,602
Tax year 2024
Assessed value
$2,838,200
Assessed 2024
Previous assessed
$2,838,200
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$1,056,100
Assessed improvement
$1,782,100
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
4
Bathrooms
6
Total area
36,000 SF
Lot
4.31 ac (187,744 SF)
Zoning code
IL
APN
METH M:00412 B:00126B L:00289D
UPID
US38-0371937
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
$5.1M
OFFICE BUILDING
Est. value
$6.1M
INDUSTRIAL (GENERAL)
Est. value
$5.9M
WAREHOUSE, STORAGE Current
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
4
Bathrooms
6
Lot
4.31 ac
Current owner
From public records · entity-resolved
T Llm
Individual
Mailing address
15 AEGEAN DR STE #3, METHUEN, MA 01844-1558
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2025
—
Aegean Drive LLC
—
Deed
related
$3,106,600 · Lowell Five Cents Savings Bank
Sep 23, 2024
—
Aegean Drive LLC
—
Deed
related
$750,000 · Reunion Capital LLC
Sep 5, 2024
—
Aegean Drive LLC
—
Deed
related
$350,000 · Reunion Capital LLC
Dec 17, 2021
—
Aegean Dr LLC
—
Deed
related
$690,000 · Savings Bank Trust
Apr 13, 2012
—
Aegean Drive LLC
—
Deed Of Trust
related
$439,380 · Savings Bank
Sep 22, 2006
—
Aegean Drive LLC
—
Deed Of Trust
related
$300,000 · Sovereign Bank
Jul 31, 2003
—
Agan Drive LLC
—
Deed Of Trust
related
$365,000 · Banknorth NA
Jan 17, 2003
—
Aegean Drive LLC
—
Deed Of Trust
related
$1,135,000 · Banknorth NA
Jun 19, 2002
—
Aegean Dr LLC
—
Deed Of Trust
related
$575,000 · Haverhill Cp Bank
Jun 28, 2001
—
Aegean Drive LLC
—
Deed Of Trust
related
$1,000,000 · Haverhill Cp Bank
Jul 19, 1999
—
Aegean Drive LLC
—
Deed Of Trust
related
$1,500,000 · First Essex Savings Bank
Dec 17, 1998
—
Llm RT
—
Deed Of Trust
related
$100,000 · Northmark Bank
Jul 29, 1998
$215,000
T Llm
Fdic
Grant Deed
—
May 19, 1997
$425,000
Fdic
Aaegean Industrial Pk
Grant Deed
—
Feb 22, 1991
—
Aegean Industrial Park
—
Deed Of Trust
related
$2,300,000 · Guaranty First Trust Co
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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