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Property profile & analytics
OFF-MARKET
Estimated value
$2,415,000
Retail space
158 Main St North Reading, MA 01864-3116
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US38-1600756
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
14,550 SF
Lot
1.77 ac (76,971 SF)
Zoning code
HB
APN
NREA M:025.0 B:0000 L:0054.0
UPID
US38-1600756
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
-
Walgreens Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Cardtronics Atm
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.22M
Comparable Approach
Comparable
$1.60M
Blend (final)
Blend
$2.42M
Owner & transaction history
Hrrlp North Reading LLC · 17 yrs held
Hrrlp North Reading LLC
since 2008
3 recorded transactions
Zoning & alternative use
HB · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Highway Business (HB) District. § 200-40 Industrial/Office (I/O-1) District. § 200-32 Applicability. Except as otherwise provided in this Zoning Bylaw, no building, structure or land shall be used for a purpose other than one permitted in the district as prescribed in this article. Any use not permitted by this article shall be construed to be prohibited.
Zone name
Highway Business
General category
MIXED_USE
Zone area
400.42 ac
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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%
$3,485,000
6.5%
$3,215,000
7%
$2,990,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,920,000
Current use
COMMERCIAL (GENERAL)
$3,760,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$3,525,000
Change: -10% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,350,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.42M
Range $2.17M – $2.66M · ±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
$166 / 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
$49,158
Tax year 2024
Assessed value
$3,721,300
Assessed 2024
Previous assessed
$3,520,400
+5.7% YoY
Effective rate
1.32%
On assessed value
Assessed land
$945,300
Assessed improvement
$2,776,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
1
Total area
14,550 SF
Lot
1.77 ac (76,971 SF)
Zoning code
HB
APN
NREA M:025.0 B:0000 L:0054.0
UPID
US38-1600756
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
HB · North Reading, MAZoning HB · permitted uses
HB · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Highway Business (HB) District. § 200-40 Industrial/Office (I/O-1) District. § 200-32 Applicability. Except as otherwise provided in this Zoning Bylaw, no building, structure or land shall be used for a purpose other than one permitted in the district as prescribed in this article. Any use not permitted by this article shall be construed to be prohibited.
Zone name
Highway Business
General category
MIXED_USE
Zone area
400.42 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2008
Heating
FORCED AIR
Stories
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
Hrrlp North Reading LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2008
$8,586,256
Hrrlp North Reading LLC
Richmond Nrea Dev LLC
Grant Deed
$6,300,000 · Ocean Bank
Aug 17, 2007
—
Richmond N Readng Dev LLC
—
Deed Of Trust
related
$7,106,000 · Banknorth NA
Aug 17, 2007
$1
Richmond N Readng Dev LLC
Heffron Asphalt Corp
Grant Deed
related
—
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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