Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    19 Cherry St Danvers, MA 01923-2833

    • Office buildings
    • 3,359 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1478491
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gilmore & Gilmore / Personal Injury Attorney / Estate Planning Attorney
    • Lawrence B Morse & Associates / Employment Attorney / Attorney
    • Law Offices of Stephen D. Walsh / Personal Injury Attorney / Law Firm
    • Lisa A. Greenberg, Attorney at Law / Divorce Lawyer
    • David Mc Bride Law Offices / Attorney

    Property Details for 19 Cherry St

    Year built
    1877
    Construction
    FRAME
    Lot size
    0.17 lot acres
    Property size
    3,359 SF
    Zone code
    R1
    Property type
    Office buildings
    APN
    DANV M:043 L:381 P:
    APU
    DANVM043L381P

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,665,000
      6.5%
      $1,535,000
      7%
      $1,425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $976,000
      Market price range: $546k - $1.32M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Danvers
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9389
    Latitude
    42.5658
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,474
    $292,000
    $324,900
    $616,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,000,000
      4,432 SF

      98 High St

      OFFICE BUILDING • 4,432 SF
      98 High St, Danvers, MA 01923-3130
      View Details
    • Value Estimation
      $1,395,000
      2,969 SF

      16 Park St

      OFFICE BUILDING • 2,969 SF
      16 Park St, Danvers, MA 01923-3073
      View Details
    • Value Estimation
      $23,240,000
      100,301 SF

      199 Rosewood Dr

      OFFICE BUILDING • 100,301 SF
      199 Rosewood Dr, Danvers, MA 01923-1398
      View Details
    • Value Estimation
      $975,000
      2,052 SF

      106 High St

      OFFICE BUILDING • 2,052 SF
      106 High St, Danvers, MA 01923-3114
      View Details
    • Value Estimation
      $600,000
      1,734 SF

      249 Andover St

      OFFICE BUILDING • 1,734 SF
      249 Andover St, Danvers, MA 01923-1317
      View Details
    • Value Estimation
      $7,160,000
      19,128 SF

      185 Ctr St

      OFFICE BUILDING • 19,128 SF
      185 Ctr St, Danvers, MA 01923-4512
      View Details

    Similar Nearby for Sale

    • $4,300,000

      Danvers Office Property For Sale

      Office property available for purchase in Danvers, Massachusetts.
      185 Centre St, Danvers, MA 01923
      View Details
    • $620,000

      Corner Office Suite For Sale

      Well-designed office suite with abundant natural light and convenient location.
      150 Andover St, Danvers, MA 01923
      View Details
    • Contact for pricing
      32,000 SF

      New Construction Flex/Industrial Warehouse

      New construction flex/industrial warehouse totaling approximately 32,000 SF.
      13 Popes Ln, Danvers, MA 01923
      View Details
    • Contact for pricing
      1 SF

      Danvers Land Site For Sale

      1.15 AC land site near Routes 95 and 1.
      Danvers, MA 01923
      View Details
    • New
      $1,549,000
      0.55 Acres

      Cleared Commercial Lot on Route 1

      Cleared commercial lot on Route 1 in Danvers, Massachusetts.
      25 Popes Ln, Danvers, MA 01923
      View Details
    • Contact for pricing
      13,400 SF

      Danvers Flex/Industrial Building For Sale

      Flex/industrial building in Danvers, MA, available March 2025.
      7 Healy Ct, Danvers, MA 01923
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      18,838 SF

      Danvers Boutique Office Space Available

      Up to 22,000 SF available near Interstate 95.
      99 Conifer Hill Dr, Danvers, MA 01923
      View Details
    • $18 SF/Yr
      3,080 SF

      Danvers Office Space For Rent

      Office space in a corporate campus with fitness center.
      99 Rosewood Dr, Danvers, MA 01923
      View Details
    • $14 SF/Yr

      Bright Office Suite Sublease

      2,650 SF office suite with below-market rent.
      89 Newbury St, Danvers, MA 01923
      View Details
    • $500 /Mo

      Office Suite in Danvers, MA

      Office suite for rent with shared amenities in Danvers.
      28 Harbor St, Danvers, MA 01923
      View Details
    • $3,200 /Mo

      Danvers Office Space for Rent

      Well-maintained office space with open concept and private bathrooms.
      491 Maple St, Danvers, MA 01923
      View Details
    • $14 SF/Yr

      Route 1 Accessible Office Space

      Modern, handicap-accessible office space on Route 1 Southbound.
      2 Electronics Ave, Danvers, MA 01923
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    19 Cherry St
    Danvers, MA 01923-2833
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.