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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Showrooms
16 Canal St, Lee, MA 01238
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1471364
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1993
Construction
STEEL FRAME
Total area
5,500 SF
Lot
0.54 ac (23,522 SF)
Zoning code
BM
APN
LEEE M:012 B:0A L:0000-0088.0
UPID
US38-1471364
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
$855k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$755k
Owner & transaction history
Bloom Lee LLC · 5 yrs held
Bloom Lee LLC
since 2021
Last sale
$750,000
4 recorded transactions
Zoning & alternative use
BM · Lee, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+33.5%
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 Lee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lee 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%
$930,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$805,000
Current use
RESTAURANT
$1,075,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$790,000
Change: -2% · Conversion: Easy
OFFICE BUILDING
$770,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$715,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $750k (Mar 4 2021)
Last sale anchor
$750k
Mar 4 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
$137 / 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
$3,354
Tax year 2024
Assessed value
$298,400
Assessed 2024
Previous assessed
$284,200
+5.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$119,900
Assessed improvement
$178,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1993
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
5,500 SF
Lot
0.54 ac (23,522 SF)
Zoning code
BM
APN
LEEE M:012 B:0A L:0000-0088.0
UPID
US38-1471364
Jurisdiction
LEE
Zoning & alternative use
BM · Lee, MA
Zoning BM · permitted uses
BM · Lee, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$805,000
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$790,000
OFFICE BUILDING
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$715,000
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1993
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Bloom Lee LLC
Entity
Mailing address
2005 PALMER AVE #111, LARCHMONT, NY 10538-2437
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2025
—
Bloom Lee LLC
—
Deed
related
$355,000 · Lee Bank
Mar 4, 2021
$750,000
Bloom Lee LLC
Lee Storage LLC
Quit Claim Arm's Length For Ne States
$600,000 · Lee Bank
Nov 6, 2008
$190,000
Lee Storage LLC
Byrnes,colleen M
Grant Deed
$90,000 · Timothy J Byrnes
Jul 15, 2005
$125,000
Colleen M Byrnes
U-store INC
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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