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Property profile & analytics
FOR LEASE
Warehouses
15 Mcgrath Rd, Methuen, MA 01844
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1319885
For Lease
1 / 6
$3,500/Mo
15 Mcgrath Rd, Methuen, MA 01844
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Construction
STEEL FRAME
Total area
18,200 SF
Lot
2.74 ac (119,354 SF)
Zoning code
IL
APN
METH M:00118 B:00130 L:00005E
UPID
US38-1319885
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
-
Absolute Home Insulation Plus General Contractor Renovation Specialist
-
Prestige Heating And Cooling HVAC Service General Contractor
-
Platinum Protection Systems, LLC Security Service
-
Absolute Energy Solutions General Contractor Renovation Specialist
-
Titan Security Supply Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.87M
CAP Approach
CAP
$3.62M
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$3.30M
Owner & transaction history
Mcgrath Business Park LLC · 5 yrs held
Mcgrath Business Park LLC
since 2021
Last sale
$3.1M
5 recorded transactions
Zoning & alternative use
IL · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.4M
+70.4%
Retail stores
$4.1M
+58.2%
Commercial (general)
$3.3M
+30.4%
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
$3,930,000
ML approach
$3,870,000
CAP Approach
CAP Return
Estimation
6%
$3,920,000
6.5%
$3,615,000
7%
$3,360,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,560,000
Current use
AUTO REPAIR, GARAGE
$4,360,000
Change: +70% · Conversion: Easy
RETAIL STORES
$4,050,000
Change: +58% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,340,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$3,085,000
Change: +20% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,980,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±10% · vs last sale $3.10M (Feb 16 2021)
Last sale anchor
$3.10M
Feb 16 2021
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
$181 / 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
$26,496
Tax year 2024
Assessed value
$1,261,700
Assessed 2024
Previous assessed
$1,197,500
+5.4% YoY
Effective rate
2.10%
On assessed value
Assessed land
$341,200
Assessed improvement
$920,500
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
For Lease
Year built
2018
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
10
Bathrooms
10
Total area
18,200 SF
Lot
2.74 ac (119,354 SF)
Zoning code
IL
APN
METH M:00118 B:00130 L:00005E
UPID
US38-1319885
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
$2.6M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RETAIL STORES
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
WAREHOUSE, STORAGE Current
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
2018
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
10
Bathrooms
10
Lot
2.74 ac
Current owner
From public records · entity-resolved
Mcgrath Business Park LLC
Entity
Mailing address
15 MCGRATH RD STE #1, METHUEN, MA 01844-1868
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2021
—
Mcgrath Bus Pk LLC
—
Deed
related
$1,277,000 · New England Certified Development Corp
Feb 16, 2021
$3,100,000
Mcgrath Business Park LLC
15 Mcgrath LLC
Quit Claim Arm's Length For Ne States
$1,550,000 · Bank Of America NA
May 2, 2018
—
15 Mcgrath LLC
—
Deed
related
$1,375,000 · Enterprise Bank & Trust Co
Jun 28, 2006
$441,000
C RT
Lussier,gerald J
Grant Deed
—
Jun 28, 2006
$1
Road Owners T Mcgrath
Lussier,gerald J
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.
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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