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Property profile & analytics
OFF-MARKET
Estimated value
$4,495,000
Industrial properties
185 Franklin St 2B, Boston, MA 02110-1532
Entity Owned
Free & Clear
Property ID
US38-0617712
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Total area
16,892 SF
Lot
0.39 ac (16,892 SF)
Zoning code
I
APN
CBOS W:03 P:04176 S:010
UPID
US38-0617712
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
-
Ryan LLC Tax Preparation
-
TD Bank Bank Loan Service
-
ATM (TD Bank) Atm
-
Sean Perkins - Mortgage Loan Officer Loan Service Bank
-
Regency Centers Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.74M
Comparable Approach
Comparable
$6.06M
Blend (final)
Blend
$4.50M
Owner & transaction history
VERIZON NEW ENGLAND INC
VERIZON NEW ENGLAND INC
Zoning & alternative use
I · Boston, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.6M
+22.8%
Neighborhood: shopping center
$5.6M
+3.5%
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 Boston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boston 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%
$2,965,000
6.5%
$2,735,000
7%
$2,540,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,385,000
Current use
OFFICE BUILDING
$6,615,000
Change: +23% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,575,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$4.50M
Range $4.05M – $4.94M · ±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
$266 / 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
$151,418
Tax year 2024
Assessed value
$5,992,000
Assessed 2024
Previous assessed
$5,791,100
+3.5% YoY
Effective rate
2.53%
On assessed value
Assessed improvement
$5,992,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Heating
NONE
Buildings
1
Total area
16,892 SF
Lot
0.39 ac (16,892 SF)
Zoning code
I
APN
CBOS W:03 P:04176 S:010
UPID
US38-0617712
Jurisdiction
BOSTON
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Boston, MA
Zoning I · permitted uses
I · Boston, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.4M
OFFICE BUILDING
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
VERIZON NEW ENGLAND INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2749, ADDISON, TX 75001-2749
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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