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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Office buildings
171 Water St, Wakefield, MA 01880-3011
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0565838
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Construction
FRAME
Total area
2,184 SF
Lot
0.21 ac (9,135 SF)
Zoning code
B
APN
WAKE M:000018 B:0133 P:00011A
UPID
US38-0565838
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
-
Mary Kelly, CENTURY 21 Property Central Inc. Real Estate Agency
-
Century 21 Property Central -Sandra McLaughlin, Realtor Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$880k
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
$768k
Blend (final)
Blend
$870k
Owner & transaction history
Keokel LLC · 3 yrs held
Keokel LLC
since 2022
Last sale
$900,000
3 recorded transactions
Zoning & alternative use
B · Wakefield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$615,000
+28.6%
Neighborhood: shopping center
$605,000
+26.6%
Retail stores
$590,000
+23.2%
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 Wakefield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wakefield 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
$835,000
ML approach
$880,000
CAP Approach
CAP Return
Estimation
6%
$1,230,000
6.5%
$1,135,000
7%
$1,055,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$615,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$590,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$565,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $900k (Sep 15 2022)
Last sale anchor
$900k
Sep 15 2022
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
$398 / 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
$21,299
Tax year 2024
Assessed value
$981,500
Assessed 2024
Previous assessed
$915,700
+7.2% YoY
Effective rate
2.17%
On assessed value
Assessed land
$609,900
Assessed improvement
$371,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Rooms
3
Bathrooms
2
Total area
2,184 SF
Lot
0.21 ac (9,135 SF)
Zoning code
B
APN
WAKE M:000018 B:0133 P:00011A
UPID
US38-0565838
Jurisdiction
WAKEFIELD
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Wakefield, MA
Zoning B · permitted uses
B · Wakefield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wakefield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
RETAIL STORES
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$565,000
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1940
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Rooms
3
Bathrooms
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Keokel LLC
Entity
Mailing address
171 WATER ST, WAKEFIELD, MA 01880-3011
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Sep 15, 2022
$900,000
Keokel LLC
St Parascheva Romanian Or
Quit Claim Arm's Length For Ne States
$884,000 · Northern Bank & Trust Co
Sep 12, 2022
—
St Parascheva Romanian
—
Deed
related
$1,446,500 · Northern Bank & Trust Co
Jun 17, 1999
$223,000
Romanian St. Parascheva
First Baptist Church
Grant Deed
$150,000 · Savings Bank
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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