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Property profile & analytics
OFF-MARKET
Estimated value
$5,840,000
Warehouses
19 National Dr, Franklin, MA 02038-3243
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-1806589
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
STEEL FRAME
Total area
55,025 SF
Lot
6.56 ac (285,623 SF)
APN
FRAN M:290 L:003
UPID
US38-1806589
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
-
Strok Design Team at Decorating Den Interiors Interior Design Home Decor Store
-
NRC Environmental Environmental Engineer Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.84M
Owner & transaction history
Forge Commercial LLC · 9 yrs held
Forge Commercial LLC
since 2017
7 recorded transactions
Zoning & alternative use
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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
WAREHOUSE, STORAGE
$9,510,000
Current use
INDUSTRIAL (GENERAL)
$9,020,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$5.84M
Range $5.26M – $6.42M · ±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
$106 / 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
$59,067
Tax year 2024
Assessed value
$5,009,900
Assessed 2024
Previous assessed
$5,009,900
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$2,316,200
Assessed improvement
$2,693,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
3
Bathrooms
6
Total area
55,025 SF
Lot
6.56 ac (285,623 SF)
APN
FRAN M:290 L:003
UPID
US38-1806589
Jurisdiction
FRANKLIN
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.5M
INDUSTRIAL (GENERAL)
Est. value
$9.0M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
1999
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
3
Bathrooms
6
Lot
6.56 ac
Current owner
From public records · entity-resolved
Forge Commercial LLC
Entity
Mailing address
23 NATIONAL DR, FRANKLIN, MA 02038-0259
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2017
$5,300,000
Forge Commercial LLC
Tmc Holdings & Dev LLC
Quit Claim Deed
$3,000,000 · Middlesex Svgs Bk
May 27, 2014
—
Tmc Holdings&dev LLC
—
Grant Deed
related
$1,356,320 · Td Bk NA
Jun 11, 2013
—
Tmc Holdings&dev LLC
—
Deed Of Trust
related
$1,356,320 · Td Bank NA
Sep 11, 2012
$800,000
Tmc Holdings&dev LLC
Rainbow Realty Corp
Grant Deed
related
—
May 21, 2008
—
Rainbow Realty Corp
—
Deed Of Trust
related
$3,800,000 · Td Bank NA
Oct 18, 2002
—
Rainbow Realty Corp
—
Deed Of Trust
related
$4,300,000 · Banknorth NA
Feb 11, 2000
—
Mcenaney,norman F Tr
—
Deed Of Trust
related
$977,000 · Bay Colony Dev Corp
Feb 5, 1999
—
Norman Mcenaney JR.
—
Deed Of Trust
related
$950,000 · Pennisula LP
Jan 13, 1999
$549,000
Norman Mcenaney JR.
Mervine,jane Tr
Grant Deed
—
Jan 4, 1999
—
Jane Mervine Tr
—
Deed Of Trust
related
$351,000 · Commerce Bank & Trust
Oct 22, 1998
$400,000
Mervine,jane Tr
Reibling Tr,guenther
Grant Deed
—
—
—
Tmc Holdings & Dev LLC
—
Deed Of Trust
related
$179,920 · Rbs Citizens NA
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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