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Property profile & analytics
OFF-MARKET
Estimated value
$37,705,000
Office Spaces
178 Albion St Wakefield, MA 01880-3257
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-2296592
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1900
Construction
FRAME
Total area
155,686 SF
Lot
2.88 ac (125,453 SF)
Zoning code
I
APN
WAKE M:000012 B:0100 P:00195A
UPID
US38-2296592
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
-
Good Harbor Group LLC Information Services
-
Mount Vernon Group Architects, Inc. Architect Architecture Firm
-
Glance Networks (Bike/Boat/Book/etc) Store Corporate Office
-
Persimmon Technologies Corporate Office
-
Gary Marshall LLC Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$35.26M
Blend (final)
Blend
$37.71M
Owner & transaction history
Wakefield Apt Tic I LLC · 2 yrs held
Wakefield Apt Tic I LLC
since 2024
1 recorded transaction
Zoning & alternative use
I · Wakefield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$45.2M
+32.6%
Auto repair, garage
$43.8M
+28.6%
Neighborhood: shopping center
$43.1M
+26.6%
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
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
OFFICE BUILDING
$34,075,000
Current use
RESTAURANT
$45,200,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$43,820,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$43,135,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$41,970,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$40,230,000
Change: +18% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$35,870,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$37.71M
Range $33.93M – $41.48M · ±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
$242 / 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
$643,444
Tax year 2024
Assessed value
$29,651,800
Assessed 2024
Previous assessed
$29,651,800
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed improvement
$29,651,800
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
3
Units
4
Rooms
3
Bathrooms
3
Total area
155,686 SF
Lot
2.88 ac (125,453 SF)
Zoning code
I
APN
WAKE M:000012 B:0100 P:00195A
UPID
US38-2296592
Jurisdiction
WAKEFIELD
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Wakefield, MA
Zoning I · permitted uses
I · 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
OFFICE BUILDING Current
Est. value
$34.1M
RESTAURANT
Est. value
$45.2M
AUTO REPAIR, GARAGE
Est. value
$43.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$43.1M
RETAIL STORES
Est. value
$42.0M
COMMERCIAL (GENERAL)
Est. value
$40.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$35.9M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
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
1900
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
4
Rooms
3
Bathrooms
3
Lot
2.88 ac
Current owner
From public records · entity-resolved
Wakefield Apt Tic I LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1228 EUCLID AVE4FH, CLEVELAND, OH 44115-1834
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2024
—
Wakefield Apt Tic I LLC
Wakefield Apartments LLC
Condominium 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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