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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Turn key restaurants
15 Water St Nantucket, MA 02554-3554
Entity Owned
20-yr Hold
Free & Clear
Property ID
US38-0701578
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1934
Construction
FRAME
Total area
3,590 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CDT
APN
NANT M:04231 P:00012
UPID
US38-0701578
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
-
The Charlie Noble Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$585k
Owner & transaction history
Nir Retail LLC · 20 yrs held
Nir Retail LLC
since 2005
2 recorded transactions
Zoning & alternative use
CDT · Nantucket, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$880,000
+45.5%
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 Nantucket submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nantucket 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
RESTAURANT
$605,000
Current use
OFFICE BUILDING
$880,000
Change: +45% · Conversion: Moderate
RETAIL STORES
$545,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$163 / 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
$26,368
Tax year 2024
Assessed value
$4,975,100
Assessed 2024
Previous assessed
$4,535,000
+9.7% YoY
Effective rate
0.53%
On assessed value
Assessed land
$4,283,600
Assessed improvement
$691,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1934
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Bathrooms
3
Total area
3,590 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CDT
APN
NANT M:04231 P:00012
UPID
US38-0701578
Jurisdiction
NANTUCKET
Zoning & alternative use
CDT · Nantucket, MA
Zoning CDT · permitted uses
CDT · Nantucket, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nantucket. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$605,000
OFFICE BUILDING
Est. value
$880,000
RETAIL STORES
Est. value
$545,000
RESTAURANT Current
OFFICE BUILDING
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
1934
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
Nir Retail LLC
Entity
Free & Clear · 20 yrs held
Mailing address
75 PARK PLZ STE #3, BOSTON, MA 02116-3934
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2005
$4,027,000
Nir Retail LLC
Winthrop Nantucket 2 RT
Grant Deed
—
Jun 1, 1988
$1,750,000
Winthrop Nantuck 2 RT
15 South Wat St RT
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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