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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Manufacturing properties
21-23 Railroad Ave, Rockport, MA 01966
Individually Owned
5-yr Hold
Free & Clear
Property ID
US38-1102555
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1961
Construction
CONCRETE
Total area
3,050 SF
Lot
0.51 ac (22,024 SF)
Zoning code
RA0
APN
ROCK M:11 B:18
UPID
US38-1102555
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
$540k
CAP Approach
CAP
$500k
Comparable Approach
Comparable
$530k
Blend (final)
Blend
$505k
Owner & transaction history
Rockport Real Est Assn · 5 yrs held
Rockport Real Est Assn
since 2021
Last sale
$450,000
4 recorded transactions
Zoning & alternative use
RA0 · Rockport, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$785,000
+57.0%
Auto repair, garage
$730,000
+46.3%
Retail stores
$680,000
+35.8%
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 Rockport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockport 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
$570,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
$540,000
6.5%
$500,000
7%
$465,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$500,000
Current use
OFFICE BUILDING
$785,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$730,000
Change: +46% · Conversion: Easy
RETAIL STORES
$680,000
Change: +36% · Conversion: Moderate
WAREHOUSE, STORAGE
$430,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $450k (Apr 23 2021)
Last sale anchor
$450k
Apr 23 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
$166 / 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
$2,812
Tax year 2024
Assessed value
$334,000
Assessed 2024
Previous assessed
$334,000
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$232,700
Assessed improvement
$101,300
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1961
Construction
CONCRETE
Heating
SPACE
Buildings
1
Stories
1
Bathrooms
2
Total area
3,050 SF
Lot
0.51 ac (22,024 SF)
Zoning code
RA0
APN
ROCK M:11 B:18
UPID
US38-1102555
Jurisdiction
ROCKPORT
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
RA0 · Rockport, MA
Zoning RA0 · permitted uses
RA0 · Rockport, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockport. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$500,000
OFFICE BUILDING
Est. value
$785,000
AUTO REPAIR, GARAGE
Est. value
$730,000
RETAIL STORES
Est. value
$680,000
WAREHOUSE, STORAGE
Est. value
$430,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1961
Construction
CONCRETE
Heating
SPACE
Stories
1
Buildings
1
Bathrooms
2
Lot
0.51 ac
Current owner
From public records · entity-resolved
Rockport Real Est Assn
Individual
Free & Clear · 5 yrs held
Mailing address
3 STA SQ, ROCKPORT, MA 01966-1474
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2021
—
Rockport Real Est Assn
James Coogan
Quit Claim Deed
related
—
Jun 20, 2019
$450,000
L E Smith 1874 INC
Charles L Williams
Quit Claim Arm's Length For Ne States
$315,000 · Winchester Savings Bank
Feb 9, 1999
—
T Ciw
—
Deed Of Trust
related
$251,000 · Cape Ann Savings Bank
Oct 24, 1988
—
Charles L Williams
—
Deed Of Trust
related
$130,000 · Cape Ann Savings 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.
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