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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Office buildings
178 Park St, North Reading, MA 01864-2342
Individually Owned
26-yr Hold
Free & Clear
Property ID
US38-1616395
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1961
Total area
4,680 SF
Lot
0.79 ac (34,500 SF)
Zoning code
R1
APN
NREA M:042.0 B:0000 L:0001.0
UPID
US38-1616395
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
-
Joseph Tatone & Associates Architect
-
Emma's Classic Barber Shop
-
Dooley & Mason Realty Group Real Estate Agency
-
Asch Alexander J MD Pediatrician Medical Clinic
-
Laser RN Skincare Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.25M
Owner & transaction history
St T Park · 26 yrs held
St T Park
since 2000
1 recorded transaction
Zoning & alternative use
R1 · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+16.1%
Neighborhood: shopping center
$1.3M
+14.3%
Retail stores
$1.3M
+11.2%
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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
$1,135,000
Current use
AUTO REPAIR, GARAGE
$1,315,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,295,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,260,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,210,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±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
$267 / 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
$11,380
Tax year 2024
Assessed value
$861,500
Assessed 2024
Previous assessed
$815,900
+5.6% YoY
Effective rate
1.32%
On assessed value
Assessed land
$368,400
Assessed improvement
$493,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1961
Heating
HOT WATER
Stories
2
Total area
4,680 SF
Lot
0.79 ac (34,500 SF)
Zoning code
R1
APN
NREA M:042.0 B:0000 L:0001.0
UPID
US38-1616395
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
R1 · North Reading, MA
Zoning R1 · permitted uses
R1 · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Reading. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
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
1961
Heating
HOT WATER
Stories
2
Lot
0.79 ac
Current owner
From public records · entity-resolved
St T Park
Individual
Free & Clear · 26 yrs held
Mailing address
PO BOX 381, NORTH READING, MA 01864-0381
Ownership since
2000
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
Jun 23, 2000
$301,199
St T Park
N Andover RT
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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