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Property profile & analytics
FOR LEASE
Industrial properties
203 W Central St, Natick, MA 01760
Entity Owned
21-yr Hold
Free & Clear
Property ID
US38-0488653
For Lease
1 / 2
$3,860,000
203 W Central St, Natick, MA 01760
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1955
Total area
23,447 SF
Lot
3.07 ac (133,729 SF)
Zoning code
LC
APN
NATI M:00000040 P:0000071A
UPID
US38-0488653
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.84M
Comparable Approach
Comparable
$5.06M
Blend (final)
Blend
$3.86M
Owner & transaction history
Hill Prop Mgmt LLC · 21 yrs held
Hill Prop Mgmt LLC
since 2005
2 recorded transactions
Zoning & alternative use
LC · Natick, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.3M
+75.6%
Commercial (general)
$6.1M
+68.4%
Apartment house (5+ units)
$5.4M
+50.1%
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 Natick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Natick 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%
$4,155,000
6.5%
$3,835,000
7%
$3,565,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,600,000
Current use
RETAIL STORES
$6,320,000
Change: +76% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,060,000
Change: +68% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,400,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$4,505,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$3.86M
Range $3.47M – $4.25M · ±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
$165 / 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
$44,400
Tax year 2024
Assessed value
$3,621,500
Assessed 2024
Previous assessed
$3,621,500
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$1,793,600
Assessed improvement
$1,827,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1955
Heating
FORCED AIR
Buildings
2
Stories
2
Units
7
Total area
23,447 SF
Lot
3.07 ac (133,729 SF)
Zoning code
LC
APN
NATI M:00000040 P:0000071A
UPID
US38-0488653
Jurisdiction
NATICK
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
LC · Natick, MA
Zoning LC · permitted uses
LC · Natick, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Natick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.6M
RETAIL STORES
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$6.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.5M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1955
Heating
FORCED AIR
Stories
2
Buildings
2
Units
7
Lot
3.07 ac
Current owner
From public records · entity-resolved
Hill Prop Mgmt LLC
Entity
Free & Clear · 21 yrs held
Mailing address
171 GREAT RD, ACTON, MA 01720-5712
Ownership since
2005
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
Jan 7, 2005
$1
Hill Prop Mgmt LLC
Hill Rlty Co
Grant Deed
—
Apr 25, 2000
$350,000
Hill O'bryant JR.
Hill,john A JR
Grant Deed
related
$350,000 · Fleet National Bank
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?”
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