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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Banks
173 Chestnut St Needham, MA 02492
Entity Owned
3-yr Hold
Free & Clear
Property ID
US38-0224192
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2007
Total area
2,145 SF
Lot
0.23 ac (10,019 SF)
Zoning code
CS
APN
NEED M:047.0 B:0084 L:0000.0
UPID
US38-0224192
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
-
Chase Bank Bank Loan Service
-
Chase ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.86M
Owner & transaction history
Jp Morgan Chase Bank NA · 3 yrs held
Jp Morgan Chase Bank NA
since 2022
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
CS · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+147.3%
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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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
$2,970,000
ML approach
$3,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,930,000
Change: +147% · Conversion: Difficult
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±10% · vs last sale $2.73M (Oct 27 2022)
Last sale anchor
$2.73M
Oct 27 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
$1,331 / 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
$53,671
Tax year 2024
Assessed value
$2,184,400
Assessed 2024
Previous assessed
$2,184,400
+0.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$329,800
Assessed improvement
$1,854,600
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
2,145 SF
Lot
0.23 ac (10,019 SF)
Zoning code
CS
APN
NEED M:047.0 B:0084 L:0000.0
UPID
US38-0224192
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
CS · Needham, MA
Zoning CS · permitted uses
CS · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Needham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.9M
OFFICE BUILDING
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
2007
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Jp Morgan Chase Bank NA
Entity
Free & Clear · 3 yrs held
Mailing address
1111 POLARIS PKWY, COLUMBUS, OH 43240-2031
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2022
$2,725,000
Jp Morgan Chase Bank NA
Shelby Enterprises INC
Quit Claim Arm's Length For Ne States
—
Oct 27, 2022
—
Shelby Enterprises INC
173 Chestnut Street LLC
Quit Claim Deed
related
—
Jul 24, 2020
—
173 Chestnut Street LLC
—
Deed
related
$800,000 · Cambridge Tr
Mar 30, 2012
$1,185,000
173 Chestnut Street LLC
Dunbar Holdings I LLC
Grant Deed
$948,000 · Needham Cp Bank
Mar 31, 2008
$1,187,481
Dunbar Holdings I LLC
Crest Net Lease INC
Grant Deed
$515,000 · Standard Insurance Co
Sep 26, 2007
$961,952
Crest Net Lease INC
Friendlys Realty 2 LLC
Grant Deed
—
Jan 16, 2002
$375,000
Friendlys Realty 2 LLC
Friendly Ice Cream
Grant Deed
related
—
—
—
173 Chestnut Street LLC
—
Deed Of Trust
related
$800,000 · Cambridge Tr
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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