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Property profile & analytics
OFF-MARKET
Estimated value
$28,010,000
Warehouses
150 Hayes Memorial Dr, Northborough, MA 01532-2466
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-2169828
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2020
Construction
CONCRETE
Total area
167,438 SF
Lot
23.82 ac (1,037,599 SF)
Zoning code
I
APN
NBOR M:0500 L:0001
UPID
US38-2169828
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.02M
Comparable Approach
Comparable
$24.81M
Blend (final)
Blend
$28.01M
Owner & transaction history
Lba Or Core-co Xxiii LLC · 2 yrs held
Lba Or Core-co Xxiii LLC
since 2023
Last sale
$31.4M
2 recorded transactions
Zoning & alternative use
I · Northborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$31.6M
+87.9%
Retail stores
$26.3M
+56.4%
Auto repair, garage
$25.7M
+52.9%
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 Northborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northborough 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
$27,540,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$32,520,000
6.5%
$30,015,000
7%
$27,870,000
Alternative Use
Use
Estimation
RESTAURANT
$31,570,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$26,270,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$25,690,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$22,770,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$21,130,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$20,090,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,430,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$28.01M
Range $25.21M – $30.81M · ±10% · vs last sale $31.35M (Jul 11 2023)
Last sale anchor
$31.35M
Jul 11 2023
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
$167 / 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
$421,900
Tax year 2024
Assessed value
$29,544,800
Assessed 2024
Previous assessed
$29,544,800
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$3,820,800
Assessed improvement
$25,724,000
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
2020
Construction
CONCRETE
Heating
SPACE
Buildings
1
Stories
1
Units
2
Bathrooms
3
Total area
167,438 SF
Lot
23.82 ac (1,037,599 SF)
Zoning code
I
APN
NBOR M:0500 L:0001
UPID
US38-2169828
Jurisdiction
NORTHBOROUGH
Zoning & alternative use
I · Northborough, MA
Zoning I · permitted uses
I · Northborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$31.6M
RETAIL STORES
Est. value
$26.3M
AUTO REPAIR, GARAGE
Est. value
$25.7M
OFFICE BUILDING
Est. value
$22.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.1M
COMMERCIAL (GENERAL)
Est. value
$18.4M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
2020
Construction
CONCRETE
Heating
SPACE
Stories
1
Buildings
1
Units
2
Bathrooms
3
Lot
23.82 ac
Current owner
From public records · entity-resolved
Lba Or Core-co Xxiii LLC
Entity
Free & Clear · 2 yrs held
Mailing address
150 HAYES MEMORIAL DR, MARLBOROUGH, MA 01752-5801
Ownership since
2023
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
Jul 11, 2023
$31,350,000
Lba Or Core-co Xxiii LLC
Hayes G LLC
Quit Claim Arm's Length For Ne States
—
Jun 27, 2013
$156,458
Hemlock Drive RT
Northborough Land RT
Quit Claim 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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