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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2 Technology Dr Peabody, MA 01960

    • Manufacturing properties
    • 60,142 SF
    • 6.30 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1827409
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Omnicare / Pharmacy

    Property Details for 2 Technology Dr

    Year built
    1989
    Construction
    FRAME
    Lot size
    6.30 lot acres
    Property size
    60,142 SF
    Zone code
    IP
    Property type
    Manufacturing properties
    APN
    PEAB M:0091 B:0010
    APU
    PEABM0091B0010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $9,850,000
      Current use
      WAREHOUSE, STORAGE
      $8,455,000
      Change: -14% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Peabody
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9635
    Latitude
    42.5192
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $105,147
    $2,370,500
    $3,213,500
    $5,584,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,615,000
      32,591 SF

      58 Pulaski St

      MANUFACTURING (LIGHT) • 32,591 SF
      58 Pulaski St, Peabody, MA 01960-1800
      View Details
    • Value Estimation
      $3,460,000
      31,375 SF

      Centennial Dr

      MANUFACTURING (LIGHT) • 31,375 SF
      Centennial Dr, Peabody, MA 01960
      View Details
    • Value Estimation
      $22,550,000
      132,671 SF

      1 1st Ave

      MANUFACTURING (LIGHT) • 132,671 SF
      1 1st Ave, Peabody, MA 01960-4963
      View Details
    • Value Estimation
      $560,000
      4,100 SF

      21 Mason St

      MANUFACTURING (LIGHT) • 4,100 SF
      21 Mason St, Peabody, MA 01960
      View Details
    • Value Estimation
      $870,000
      9,450 SF

      24th Caller St

      MANUFACTURING (LIGHT) • 9,450 SF
      24th Caller St, Peabody, MA 01960-5894
      View Details
    • Value Estimation
      $670,000
      108,820 SF

      320 Jubilee Dr

      MANUFACTURING (LIGHT) • 108,820 SF
      320 Jubilee Dr, Peabody, MA 01960-4030
      View Details

    Similar Nearby for Sale

    • $3,395,000
      84,266 SF

      Functional Industrial Facility with Redevelopment

      Industrial facility with permits for 132-unit mixed-use redevelopment.
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      Two-Family Home Investment Opportunity

      Two-unit property near downtown, shops, and restaurants.
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      Approved Condominium Development Opportunity

      Approved 22-unit condominium project near Route 114 in Peabody.
      55 Pulaski St, Peabody, MA 01960
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    • $569,999

      Land with Development Potential

      Land with zoning for educational, religious, and daycare facilities.
      4 Wheatland St, Peabody, MA 01960
      View Details
    • $1,500,000

      Restaurant and Parking Lot Package

      Two properties: restaurant and parking lot with development potential.
      48-49A Lowell St, Peabody, MA 01960
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    • Contact for pricing

      Land Parcel Overlooking Route 128

      Rare 4-acre land parcel in Centennial Park, Peabody, MA.
      51 Jubilee Dr, Peabody, MA 01960
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      First Class Flex/Industrial Facility

      60,000 SF flex/R&D facility, ideal single-user corporate headquarters.
      2 Technology Dr, Peabody, MA 01960
      View Details
    • Contact for pricing
      7,530 SF

      First Class Office/R&D Space

      Office or R&D space in premier corporate park.
      4 Technology Dr, Peabody, MA 01960
      View Details
    • Contact for pricing
      53,884 SF

      Warehouse/Distribution Space Available

      53,884 SF Class A warehouse/distribution space for lease.
      3 Technology Dr, Peabody, MA 01960
      View Details
    • Contact for pricing
      25,215 SF

      Peabody Office, Medical, Flex Space

      Amenitized office, medical, and flex building in Peabody, Massachusetts.
      10 Centennial Dr, Peabody, MA 01960
      View Details
    • Contact for pricing
      9,500 SF

      Flex/Industrial Space Available

      30,000 SF flex/industrial building for sublease.
      119 Foster St, Peabody, MA 01960
      View Details
    • Contact for pricing
      66,000 SF

      Proposed R&D/Industrial Building

      Proposed 66,000 SF R&D/industrial building in Centennial Park.
      Technology Dr, Peabody, MA 01960
      View Details
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    Peabody, MA 01960
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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