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Property profile & analytics
OFF-MARKET
Estimated value
$24,560,000
Warehouses
19 Progress Rd, Billerica, MA 01821
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0831406
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Construction
STEEL FRAME
Total area
120,010 SF
Lot
9.19 ac (400,316 SF)
Zoning code
5
APN
BILL M:0105 B:0132 L:3-2
UPID
US38-0831406
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
by Request
CAP Approach
CAP
$23.85M
Comparable Approach
Comparable
$18.20M
Blend (final)
Blend
$24.56M
Owner & transaction history
Atlantic Oliver 2 17 Prog · 4 yrs held
Atlantic Oliver 2 17 Prog
since 2022
Last sale
$34.0M
6 recorded transactions
Zoning & alternative use
5 · Billerica, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$34.8M
+99.6%
Auto repair, garage
$33.8M
+93.5%
Neighborhood: shopping center
$33.3M
+90.5%
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 Billerica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Billerica 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
$29,145,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$25,835,000
6.5%
$23,845,000
7%
$22,145,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$17,455,000
Current use
RESTAURANT
$34,840,000
Change: +100% · Conversion: Difficult
AUTO REPAIR, GARAGE
$33,780,000
Change: +94% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$33,250,000
Change: +90% · Conversion: Moderate
RETAIL STORES
$32,350,000
Change: +85% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$27,650,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$21,950,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$17,520,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$24.56M
Range $22.10M – $27.02M · ±10% · vs last sale $34.00M (Jun 24 2022)
Last sale anchor
$34.00M
Jun 24 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
$205 / 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
$287,321
Tax year 2024
Assessed value
$11,451,600
Assessed 2024
Previous assessed
$10,054,600
+13.9% YoY
Effective rate
2.51%
On assessed value
Assessed land
$1,645,000
Assessed improvement
$9,806,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
120,010 SF
Lot
9.19 ac (400,316 SF)
Zoning code
5
APN
BILL M:0105 B:0132 L:3-2
UPID
US38-0831406
Jurisdiction
BILLERICA
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
5 · Billerica, MA
Zoning 5 · permitted uses
5 · Billerica, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Billerica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$17.5M
RESTAURANT
Est. value
$34.8M
AUTO REPAIR, GARAGE
Est. value
$33.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$33.3M
RETAIL STORES
Est. value
$32.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$27.7M
COMMERCIAL (GENERAL)
Est. value
$22.0M
OFFICE BUILDING
Est. value
$17.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
9.19 ac
Current owner
From public records · entity-resolved
Atlantic Oliver 2 17 Prog
Individual
Mailing address
125 HIGH ST STE #220, BOSTON, MA 02110-2737
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2022
$34,000,000
Atlantic Oliver 2 17 Prog
Kig 17p Tic LLC
Quit Claim Arm's Length For Ne States
—
Jun 24, 2022
—
Kig 17p Tic LLC
17 Progress Road LLC
Quit Claim Deed
related
—
Oct 21, 2011
—
Progress Road LLC
—
Deed Of Trust
related
$5,000,000 · United Bank
Nov 30, 2001
—
Progress Road LLC
—
Deed Of Trust
related
$6,090,000 · Ausa Life Insur Co
Apr 23, 2001
—
Progress Road LLC
—
Deed Of Trust
related
$6,100,000 · Warren Five Cts Savings
Oct 16, 1998
$3,200,000
Progress Road LLC
Billerica Re Nt
Grant Deed
$2,325,000 · Citizens Bank Of Ma
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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