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Property profile & analytics
OFF-MARKET
Estimated value
$6,170,000
Warehouses
199 Newbury St Danvers, MA 01923-1094
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US38-2353497
Property summary
AI-generated overview
This 1,500 square foot industrial space in Danvers, Essex County, offers a fantastic opportunity for a single tenant. The property is a single-story building featuring a convenient drive-in garage with a 10-foot door and ceiling heights ranging from 10.5 to 14.5 feet, varying due to roof pitch. Its prime location directly off Route 1N, behind the NE Premier Sportsplex, ensures excellent accessibility. The space includes heat and electricity, adding to its convenience. While there are no restroom facilities, a hand-sink is provided. Two outdoor parking spaces are available, capable of accommodating trucks up to 28 feet in length, and can be leased for an additional monthly fee. Flexible lease terms are offered, with both single and multi-year options available to meet diverse business needs. The property's clean and well-maintained condition makes it an ideal space for various manufacturing or warehousing operations. This exceptional location and practical features make this property a highly desirable option for businesses seeking a functional and accessible industrial space in Danvers.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1974
Construction
STEEL FRAME
Total area
69,026 SF
Lot
3.02 ac (131,551 SF)
Zoning code
HC
APN
DANV M:024 L:021A P:
UPID
US38-2353497
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
-
World Class Sports and Therapeutic Massage Physician
-
Skin Rejuvenation Center LLC Medical Clinic Skin Care Clinic
-
The K9Edge Kennel & Boarding Facility
-
The Carpet Liquidator Carpet & Flooring Store
-
Eat Well Perform Well Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.48M
Blend (final)
Blend
$6.17M
Owner & transaction history
199 Turnpike LLC · 15 yrs held
199 Turnpike LLC
since 2010
7 recorded transactions
Zoning & alternative use
HC · Danvers, 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 Danvers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danvers 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
$9,705,000
Current use
Blend value · Realmo final
$6.17M
Range $5.55M – $6.79M · ±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
$89 / 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
$80,490
Tax year 2024
Assessed value
$4,327,400
Assessed 2024
Previous assessed
$4,327,400
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$2,397,500
Assessed improvement
$1,929,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1974
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
8
Bathrooms
7
Total area
69,026 SF
Lot
3.02 ac (131,551 SF)
Zoning code
HC
APN
DANV M:024 L:021A P:
UPID
US38-2353497
Jurisdiction
DANVERS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
HC · Danvers, MA
Zoning HC · permitted uses
HC · Danvers, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Danvers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.7M
WAREHOUSE, STORAGE Current
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
1974
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
8
Bathrooms
7
Lot
3.02 ac
Current owner
From public records · entity-resolved
199 Turnpike LLC
Entity
Mailing address
7 OLIVER SWAIN RD, NORTH READING, MA 01864-2957
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2010
$3,200,000
199 Turnpike LLC
Motivated Prop LLC
Grant Deed
$480,000 · Motivated Prop LLC
Nov 19, 2010
—
199 Turnpike LLC
—
Deed Of Trust
related
$2,240,000 · Inst Savings Newburyport
Sep 23, 2003
—
Motivated Properites LLC
—
Deed Of Trust
related
$130,000 · Danvers Savings Bank
Nov 1, 2002
—
Motivated Properties LLC
—
Deed Of Trust
related
$400,000 · Jeffrey R Bagwell
May 9, 2002
$3,100,000
Motivated Properties
199 Newbury LLC
Grant Deed
—
May 9, 2002
—
Motivated Prop
—
Deed Of Trust
related
$1,055,000 · Danvers Savings Bank
Feb 6, 2001
$2,340,000
199 Newbury LLC
Samia Industrial RT
Grant Deed
$1,875,000 · Citizens Bank Of Ma
Mar 20, 1987
—
Samia Industrial RT
—
Deed Of Trust
related
$1,625,000 · Bankboston Development Co LLC
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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