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Property profile & analytics
OFF-MARKET
Estimated value
$1,645,000
Office buildings
184 Main St North Reading, MA 01864-3115
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US38-0510252
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
5,444 SF
Lot
0.52 ac (22,651 SF)
Zoning code
C
APN
NREA M:026.0 B:0000 L:0005.0
UPID
US38-0510252
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
-
Frommelt Equipment Company, Inc. Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.65M
Owner & transaction history
Frommelt Prop LLC · 20 yrs held
Frommelt Prop LLC
since 2005
7 recorded transactions
Zoning & alternative use
C · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+19.8%
Auto repair, garage
$1.5M
+16.1%
Neighborhood: shopping center
$1.5M
+14.3%
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 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
$1,320,000
Current use
RESTAURANT
$1,580,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,530,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,510,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,470,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,405,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,255,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$1.65M
Range $1.48M – $1.81M · ±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
$302 / 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
$17,207
Tax year 2024
Assessed value
$1,302,600
Assessed 2024
Previous assessed
$1,219,200
+6.8% YoY
Effective rate
1.32%
On assessed value
Assessed land
$504,000
Assessed improvement
$798,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Buildings
2
Total area
5,444 SF
Lot
0.52 ac (22,651 SF)
Zoning code
C
APN
NREA M:026.0 B:0000 L:0005.0
UPID
US38-0510252
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
C · North Reading, MA
Zoning C · permitted uses
C · 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
$1.3M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
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
Heating
NONE
Buildings
2
Lot
0.52 ac
Current owner
From public records · entity-resolved
Frommelt Prop LLC
Entity
Mailing address
184 MAIN ST, NORTH READING, MA 01864-3115
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2021
—
Frommelt Prop LLC
—
Deed
related
$1,022,000 · Salem Five Cents Savings Bank
Jul 17, 2013
—
Frommelt Props LLC
—
Deed Of Trust
related
$872,000 · Beverly Cooperative Bank
Apr 28, 2008
—
Frommelt Prop LLC
—
Deed Of Trust
related
$200,000 · Arnold Konkamp
Dec 30, 2005
$600,000
Frommelt Prop LLC
Landmarks LLC
Grant Deed
$600,000 · Middlesex Savings Bank
Dec 30, 2005
—
Frommelt Prop LLC
—
Grant Deed
related
$390,000 · Middlesex Savings Bank
Nov 30, 2004
—
Landmarks LLC
—
Deed Of Trust
related
$373,750 · North Shore Bank
Oct 17, 2001
$134,000
Landmarks LLC
184 Main St RT
Grant Deed
—
Oct 27, 1989
—
Ronald M Cahill
—
Deed Of Trust
related
$182,347 · Woburn Natl Bk
Mar 13, 1989
—
Ronald M Cahill
—
Deed Of Trust
related
$4,499 · Woburn Natl Bk
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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