Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,930,000
Office buildings
189 Wls Ave Newton, MA 02459-3346
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0333817
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,109 SF
Lot
3 ac (130,680 SF)
Zoning code
LMD
APN
NEWT S:84 B:034 L:0002T
UPID
US38-0333817
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$3.93M
Owner & transaction history
Legacy First Wells LLC · 4 yrs held
Legacy First Wells LLC
since 2022
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
LMD · Newton, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Newton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton 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
$3,745,000
ML approach
$3,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.93M
Range $3.54M – $4.32M · ±10% · vs last sale $4.05M (May 25 2022)
Last sale anchor
$4.05M
May 25 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
$131 / 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
$77,957
Tax year 2024
Assessed value
$4,253,000
Assessed 2024
Previous assessed
$4,436,500
-4.1% YoY
Effective rate
1.83%
On assessed value
Assessed land
$2,451,600
Assessed improvement
$1,801,400
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
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
2
Units
8
Rooms
30
Bathrooms
6
Total area
30,109 SF
Lot
3 ac (130,680 SF)
Zoning code
LMD
APN
NEWT S:84 B:034 L:0002T
UPID
US38-0333817
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
LMD · Newton, MA
Zoning LMD · permitted uses
LMD · Newton, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newton. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
1
Units
8
Rooms
30
Bathrooms
6
Lot
3 ac
Current owner
From public records · entity-resolved
Legacy First Wells LLC
Entity
Mailing address
107 AUDUBON RD STE #2, WAKEFIELD, MA 01880-1245
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2022
$4,050,000
Legacy First Wells LLC
Wells Riverpark RT
Quit Claim Arm's Length For Ne States
$3,440,000 · Dedham Institution For Savings
May 28, 2013
—
Wells Riverpark RT
—
Deed Of Trust
related
$14,900,000 · Brookline Savings Bank
May 30, 2003
$1
Wells/riverpark RT
Tr,new 189 RT S
Grant Deed
related
—
Jun 15, 2000
—
189 Wells Ave INC
—
Deed Of Trust
related
$4,040,000 · Citizens Bank Of Ma
Mar 14, 2000
$3,600,000
189 Wells Ave INC
189 Wells Ave RT
Grant Deed
related
—
Sep 29, 1995
—
189 Wells Ave RT
—
Deed Of Trust
related
$1,415,000 · Cambridgeport Savings Bank
Mar 12, 1993
—
189 Wells Ave RT
—
Deed Of Trust
related
$750,000 · Certified Dev Co Massachusetts
Aug 27, 1992
$1,795,000
189 Wells Ave RT
New Bank Of Ne
Grant Deed
$922,500 · Us Trust Co
Aug 27, 1992
—
189 Wells Ave RT
—
Deed Of Trust
related
$477,500 · Us Trust Co
Sep 29, 1989
—
Dominic J Saraceno
—
Deed Of Trust
related
$25,000 · Bank Of New England
Jun 26, 1989
—
Dominic J Saraceno
—
Deed Of Trust
related
$2,600,000 · Bank Of New England
Mar 28, 1988
—
Dominic J Saraceno
—
Deed Of Trust
related
$875,000 · Bank Of New England
May 29, 1987
—
Domonic J Saraceno
—
Deed Of Trust
related
$17,125,000 · Bank Of New England
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 189 Wls Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
