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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Banks
2 Depot Sq Ipswich, MA 01938-1914
Individually Owned
31-yr Hold
Free & Clear
Property ID
US38-1746736
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1995
Construction
FRAME
Total area
12,526 SF
Lot
0.36 ac (15,690 SF)
Zoning code
CB
APN
IPSW M:41B B:0216 L:0
UPID
US38-1746736
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
-
Institution for Savings Bank Loan Service
-
Ipswich Co-Op Bank Atm
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$965k
Owner & transaction history
Sq Inv T Depot · 31 yrs held
Sq Inv T Depot
since 1994
2 recorded transactions
Zoning & alternative use
CB · Ipswich, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+2.7%
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 Ipswich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ipswich 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
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,525,000
Current use
RETAIL STORES
$1,565,000
Change: +3% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,320,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$77 / 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
$34,311
Tax year 2024
Assessed value
$3,015,000
Assessed 2024
Previous assessed
$3,015,000
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$459,200
Assessed improvement
$2,555,800
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1995
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
2
Bathrooms
6
Total area
12,526 SF
Lot
0.36 ac (15,690 SF)
Zoning code
CB
APN
IPSW M:41B B:0216 L:0
UPID
US38-1746736
Jurisdiction
IPSWICH
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CB · Ipswich, MA
Zoning CB · permitted uses
CB · Ipswich, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ipswich. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
FINANCIAL BUILDING Current
RETAIL STORES
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
1995
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
2
Bathrooms
6
Lot
0.36 ac
Current owner
From public records · entity-resolved
Sq Inv T Depot
Individual
Free & Clear · 31 yrs held
Mailing address
2 DEPOT SQ, IPSWICH, MA 01938-1914
Ownership since
1994
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 1994
$350,000
Sq Inv T Depot
Giannotte,john J JR
Grant Deed
—
Apr 21, 1988
—
Depot Sq Rlty Tr
—
Deed Of Trust
related
$490,000 · Bank Of Ne Essex
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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