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Property profile & analytics
FOR SALE
Investment properties
15 Cherry St, Danvers, MA 01923
Entity Owned
7-yr Hold
Property ID
US38-2278203
For Sale
1 / 12
$1,255,000
15 Cherry St, Danvers, MA 01923
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Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
4,645 SF
Lot
0.1 ac (4,500 SF)
Zoning code
R1
APN
DANV M:043 L:380 P:021
UPID
US38-2278203
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
-
Lemanski Construction Construction Company General Contractor
-
PAL Painting and Construction Painting Service General Contractor
-
BLC Real Estate Real Estate Agency
-
Mercer Photography Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.45M
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.26M
Owner & transaction history
Mlpl LLC · 7 yrs held
Mlpl LLC
since 2019
7 recorded transactions
Zoning & alternative use
R1 · Danvers, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+21.0%
Retail stores
$1.0M
+12.3%
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 Danvers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danvers 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%
$1,570,000
6.5%
$1,445,000
7%
$1,345,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$920,000
Current use
AUTO REPAIR, GARAGE
$1,115,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$1,035,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$270 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$8,862
Tax year 2019
Assessed value
$1,162,000
Assessed 2024
Previous assessed
$1,162,000
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$312,900
Assessed improvement
$849,100
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
3
Rooms
17
Bathrooms
4
Total area
4,645 SF
Lot
0.1 ac (4,500 SF)
Zoning code
R1
APN
DANV M:043 L:380 P:021
UPID
US38-2278203
Jurisdiction
DANVERS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R1 · Danvers, MA
Zoning R1 · permitted uses
R1 · Danvers, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Danvers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
3
Rooms
17
Bathrooms
4
Lot
0.1 ac
Current owner
From public records · entity-resolved
Mlpl LLC
Entity
Mailing address
15 CHERRY ST, DANVERS, MA 01923-2880
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2019
—
Mlpl LLC
—
Deed
related
$377,000 · Bay Colony Dev
Jul 3, 2019
$840,000
Mlpl LLC
Pprcd Realty Group LLC
Quit Claim Arm's Length For Ne States
$455,000 · Salem Five Cents Savings Bank
Jul 24, 2017
$475,000
Elaine Asanaki
Barry Blixt
Quit Claim Deed
$450,300 · New Fed'l Mtg
Jul 7, 2017
—
Pprcd Realty Group LLC
—
Deed
related
$400,000 · Peter A Pantazelos
Feb 8, 2017
$455,000
15-11 Cherry Street Realty Trust
Pprcd Realty Group LLC
Quit Claim Deed
—
Jul 1, 2016
$369,000
Thomas D Leahy
Pprcd Realty Group LLC
Quit Claim Deed
$295,200 · Cross Cntry Mtg
—
—
Mlpl LLC
—
Deed Of Trust
related
$377,000 · Bay Colony Dev
—
—
Pprcd Realty Group LLC
—
Deed Of Trust
related
$400,000 · Peter A Pantazelos
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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