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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Office Spaces
21 Main St Ste 1a North Reading, MA 01864-2286
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US38-0316562
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1970
Total area
2,527 SF
Zoning code
HB
APN
NREA M:022.A B:0088 L:0001.0
UPID
US38-0316562
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
-
Donaghey Cara-Jean Medical Clinic
-
Vasant Patel Geriatric Care Provider
-
Kartik Kumar Physician
-
Tara Spa Spa & Massage Center
-
Donna Hills Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$649k
Blend (final)
Blend
$705k
Owner & transaction history
N Reading Realty Grp LLC · 18 yrs held
N Reading Realty Grp LLC
since 2008
7 recorded transactions
Zoning & alternative use
HB · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$710,000
+16.1%
Neighborhood: shopping center
$700,000
+14.3%
Retail stores
$680,000
+11.2%
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$615,000
Current use
AUTO REPAIR, GARAGE
$710,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$700,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$680,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$655,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$705k
Range $635k – $776k · ±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
$279 / 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
$6,370
Tax year 2024
Assessed value
$482,200
Assessed 2024
Previous assessed
$463,800
+4.0% YoY
Effective rate
1.32%
On assessed value
Assessed improvement
$482,200
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1970
Heating
CENTRAL
Stories
3
Total area
2,527 SF
Zoning code
HB
APN
NREA M:022.A B:0088 L:0001.0
UPID
US38-0316562
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
HB · North Reading, MA
Zoning HB · permitted uses
HB · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Reading. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$710,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$700,000
RETAIL STORES
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$655,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (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
1970
Heating
CENTRAL
Stories
3
Current owner
From public records · entity-resolved
N Reading Realty Grp LLC
Entity
Mailing address
147 HIGH ST, WINCHESTER, MA 01890-3334
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2008
$3,100,000
N Reading Realty Grp LLC
K&r RT
Grant Deed
$2,480,000 · Winchester Savings Bank
Jun 20, 2008
—
N Reading Realty Grp LLC
—
Deed Of Trust
related
$150,000 · Winchester Savings Bank
Jun 15, 2006
$3,750,000
K&r RT
Hastings-tapley RT
Deed
$3,210,000 · Flagship Bk Tr Co
Nov 3, 1999
$166,500
Flagship Medical Prop
New England Sanitarium
Grant Deed
—
Apr 20, 1994
$424,217
Sanitarium Ne
Flagship Medical Prop
Grant Deed
—
Jun 25, 1992
—
Ne Memorial Hospital
—
Deed Of Trust
related
$1,000,000 · Us Trust Co
May 18, 1989
—
N E Sanitarium
—
Deed Of Trust
related
$1,000,000 · Bank Of New England
Jun 8, 1988
$3,000,000
New England Sanitarium
Atlantic Union Conf
Grant Deed
—
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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