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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Office buildings
193 Jefferson Ave Salem, MA 01970-2958
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1275884
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1955
Construction
FRAME
Total area
2,248 SF
Lot
0.7 ac (30,705 SF)
Zoning code
I
APN
SALE M:24 L:0006
UPID
US38-1275884
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
-
Interstate Engineering Corporation Engineer
-
Expert Digital Imaging Electronics & Wireless Store
-
Progressive Car Insurance Financial Advisor Insurance Agency
-
KM Esthetics Hair Salon Nail Salon
-
Laura J Parsons Law Offices Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$873k
Blend (final)
Blend
$675k
Owner & transaction history
Granese-colonial LLC · 2 yrs held
Granese-colonial LLC
since 2024
Last sale
$675,000
3 recorded transactions
Zoning & alternative use
I · Salem, 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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$645,000
Current use
COMMERCIAL (GENERAL)
$620,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$540,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $675k (Jun 25 2024)
Last sale anchor
$675k
Jun 25 2024
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
$300 / 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
$10,819
Tax year 2024
Assessed value
$456,700
Assessed 2024
Previous assessed
$456,700
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$352,500
Assessed improvement
$104,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1955
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
2,248 SF
Lot
0.7 ac (30,705 SF)
Zoning code
I
APN
SALE M:24 L:0006
UPID
US38-1275884
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Salem, MA
Zoning I · permitted uses
I · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$620,000
AUTO REPAIR, GARAGE
Est. value
$540,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1955
Construction
FRAME
Heating
HOT WATER
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
0.7 ac
Current owner
From public records · entity-resolved
Granese-colonial LLC
Entity
Mailing address
193 PO BOX 687TH AVE, SALEM, MA 01970-0787
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2024
$675,000
Granese-colonial LLC
Fieldbrook Assoc
Quit Claim Arm's Length For Ne States
$1,000,000 · Steven A Granese Revo
Jan 14, 2022
—
Feildbrook Assoc
—
Deed
related
$775,000 · Hingham Institution For Savings
Mar 1, 2010
—
Arnold E Pike
—
Deed Of Trust
related
$730,000 · Salem Five Cents Savings Bank
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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