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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Retail space
2 Brg St Salem, MA 01970-4104
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-1175171
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
FRAME
Total area
4,737 SF
Lot
0.44 ac (19,201 SF)
Zoning code
B2
APN
SALE M:37 L:0058
UPID
US38-1175171
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
-
Starbird Cannabis Dispensary (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$850k
Owner & transaction history
2 Bridge LLC · 4 yrs held
2 Bridge LLC
since 2021
Last sale
$780,000
7 recorded transactions
Zoning & alternative use
B2 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+29.0%
Commercial (general)
$1.3M
+24.4%
Auto repair, garage
$1.1M
+7.7%
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
$895,000
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,055,000
Current use
OFFICE BUILDING
$1,360,000
Change: +29% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,310,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,135,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $780k (Aug 19 2021)
Last sale anchor
$780k
Aug 19 2021
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
$179 / 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
$20,603
Tax year 2024
Assessed value
$869,700
Assessed 2024
Previous assessed
$869,700
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$450,600
Assessed improvement
$419,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1930
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
1
Bathrooms
2
Total area
4,737 SF
Lot
0.44 ac (19,201 SF)
Zoning code
B2
APN
SALE M:37 L:0058
UPID
US38-1175171
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B2 · Salem, MA
Zoning B2 · permitted uses
B2 · 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
RETAIL STORES Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES Current
OFFICE BUILDING
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
1930
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
1
Bathrooms
2
Lot
0.44 ac
Current owner
From public records · entity-resolved
2 Bridge LLC
Entity
Free & Clear · 4 yrs held
Mailing address
38 OCEAN AVER, SALEM, MA 01970-5406
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2021
$780,000
2 Bridge LLC
M&a Hospitality Grp LLC
Quit Claim Arm's Length For Ne States
—
Feb 16, 2021
—
M&a Hospitality Grp LLC
—
Deed
related
$135,000 · Cutter Hill Capital
Aug 9, 2019
$925,000
M & A Hospitality Group LLC
Nrlcjp LLC
Quit Claim Deed
—
Jun 16, 2017
$1,004,750
Nrlcjp LLC
Black Lobster RT
Deed
$437,500 · Eastern Bank
Mar 16, 2011
$853
Salem City Of
Black Lobster RT
Grant Deed
—
Jan 16, 2008
—
Black Lobster RT
—
Deed Of Trust
related
$600,000 · Salem Five Cents Savings Bank
Aug 14, 2006
—
Black Lobster RT
—
Deed Of Trust
related
$66,880 · Evangeli Kastrinakis
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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