Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,520,000
Office buildings
197 Main St North Reading, MA 01864-3169
Entity Owned
11-yr Hold
Free & Clear
Property ID
US38-0634721
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
18,060 SF
Lot
3.86 ac (168,142 SF)
Zoning code
HB
APN
NREA M:026.0 B:0000 L:0020.0
UPID
US38-0634721
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
-
Howse Corporation Inc Electrical Service General Contractor
-
Escape Day Spa Alternative Medicine Practice Spa & Massage Center
-
Hair by Lauren Agganis Hair Salon Nail Salon
-
The Energy Barre, North Reading Gym & Fitness Center
-
Infab Inc Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.26M
Blend (final)
Blend
$4.52M
Owner & transaction history
NR 197 MAIN LLC
NR 197 MAIN LLC
Zoning & alternative use
HB · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+19.8%
Auto repair, garage
$5.1M
+16.1%
Neighborhood: shopping center
$5.0M
+14.3%
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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
OFFICE BUILDING
$4,380,000
Current use
RESTAURANT
$5,245,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,085,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,005,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$4,870,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,665,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,160,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$4.52M
Range $4.07M – $4.97M · ±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
$250 / 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
$41,738
Tax year 2024
Assessed value
$3,159,600
Assessed 2024
Previous assessed
$2,970,800
+6.4% YoY
Effective rate
1.32%
On assessed value
Assessed land
$1,092,500
Assessed improvement
$2,067,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Buildings
3
Total area
18,060 SF
Lot
3.86 ac (168,142 SF)
Zoning code
HB
APN
NREA M:026.0 B:0000 L:0020.0
UPID
US38-0634721
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
HB · North Reading, MA
Zoning HB · permitted uses
HB · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Reading. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.4M
RESTAURANT
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.0M
RETAIL STORES
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
Buildings
3
Lot
3.86 ac
Current owner
From public records · entity-resolved
NR 197 MAIN LLC
Entity
Free & Clear · 0 yrs held
Mailing address
197 MAIN ST STE 102A, NORTH READING, MA 01864-3159
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 197 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
