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Property profile & analytics
OFF-MARKET
Estimated value
$3,265,000
Warehouses
16 Broadway Salem, MA 01970-2922
Individually Owned
22-yr Hold
~
Est. High Equity
Property ID
US38-1621331
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1967
Construction
STEEL FRAME
Total area
37,886 SF
Lot
1.22 ac (53,143 SF)
Zoning code
IND
APN
SALE M:23 L:0145
UPID
US38-1621331
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
-
Soundown Corp General Contractor Renovation Specialist
-
J & A Enterprises Inc Acoustical Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.44M
Blend (final)
Blend
$3.27M
Owner & transaction history
Smullin,joseph I Tr · 22 yrs held
Smullin,joseph I Tr
since 2003
7 recorded transactions
Zoning & alternative use
IND · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
WAREHOUSE, STORAGE
$5,330,000
Current use
Blend value · Realmo final
$3.27M
Range $2.94M – $3.59M · ±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
$86 / 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
$47,108
Tax year 2024
Assessed value
$1,988,500
Assessed 2024
Previous assessed
$1,988,500
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$402,100
Assessed improvement
$1,586,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1967
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
37,886 SF
Lot
1.22 ac (53,143 SF)
Zoning code
IND
APN
SALE M:23 L:0145
UPID
US38-1621331
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IND · Salem, MA
Zoning IND · permitted uses
IND · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.3M
WAREHOUSE, STORAGE Current
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
1967
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
1.22 ac
Current owner
From public records · entity-resolved
Smullin,joseph I Tr
Individual
Mailing address
16 BROADWAY, SALEM, MA 01970-2922
Ownership since
2003
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 30, 2011
—
Broadway T 16
—
Deed Of Trust
related
$1,126,000 · Salem Five Cents Savings Bank
Dec 9, 2003
$1,500,000
Smullin,joseph I Tr
16 Broadway RT
Grant Deed
$1,700,000 · Danvers Savings Bank
Dec 9, 2003
—
Broadway T 16
—
Deed Of Trust
related
$1,700,000 · Danvers Savings Bank
Mar 22, 2000
—
16 Broadway RT
—
Deed Of Trust
related
$950,000 · First International Bank
Mar 12, 1998
—
16 Broadway RT
—
Deed Of Trust
related
$40,000 · Salem City
Jul 10, 1997
—
16 Broadway RT
—
Deed Of Trust
related
$432,000 · Northeastern Mass Eco
May 29, 1997
$1,050,000
Sixteen Broadway RT
Ablow,herbert L
Grant Deed
$525,000 · Warren Five Cts Savings
May 29, 1997
—
Sixteen Broadway RT
—
Deed Of Trust
related
$420,000 · Warren Five Cts Savings
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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