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Property profile & analytics
FOR LEASE
Commercial real estate
191 Mechanic St, Bellingham, MA 02019
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US38-1896396
For Lease
1 / 2
$3,960,000
191 Mechanic St, Bellingham, MA 02019
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2008
Construction
STEEL FRAME
Total area
29,000 SF
Lot
4.18 ac (182,081 SF)
Zoning code
IND
APN
BELL M:0051 B:001A L:0001
UPID
US38-1896396
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
-
Sol De Mexico Restaurant
-
Bellacure Nails and Spa Nail Salon
-
Mystique Salon of Bellingham Hair Salon
-
Marshall's Jewelers of Bellingham (Bike/Boat/Book/etc) Store
-
Fusion Express Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.31M
Comparable Approach
Comparable
$4.77M
Blend (final)
Blend
$3.96M
Owner & transaction history
191 Mechanic Street LLC · 20 yrs held
191 Mechanic Street LLC
since 2006
1 recorded transaction
Zoning & alternative use
IND · Bellingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$5.0M
+10.6%
Industrial (general)
$4.8M
+4.9%
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 Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham 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%
$4,670,000
6.5%
$4,310,000
7%
$4,000,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,530,000
Current use
WAREHOUSE, STORAGE
$5,010,000
Change: +11% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,755,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$3.96M
Range $3.56M – $4.36M · ±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
$137 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$71,869
Tax year 2020
Assessed value
$4,291,400
Assessed 2024
Previous assessed
$4,291,400
+0.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$637,300
Assessed improvement
$3,654,100
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
12
Bathrooms
11
Total area
29,000 SF
Lot
4.18 ac (182,081 SF)
Zoning code
IND
APN
BELL M:0051 B:001A L:0001
UPID
US38-1896396
Jurisdiction
BELLINGHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
IND · Bellingham, MA
Zoning IND · permitted uses
IND · Bellingham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$5.0M
INDUSTRIAL (GENERAL)
Est. value
$4.8M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
12
Bathrooms
11
Lot
4.18 ac
Current owner
From public records · entity-resolved
191 Mechanic Street LLC
Entity
Mailing address
11 RIV ST, WELLESLEY, MA 02481-2098
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2006
$1
191 Mechanic Street LLC
Lr RT
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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