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Property profile & analytics
OFF-MARKET
Estimated value
$190,480,000
Retail properties & Spaces
216 Mcgrath Hwy Somerville, MA 02143-3402
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1518407
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,718 SF
Lot
0.25 ac (11,101 SF)
Zoning code
BA
APN
SOME M:113 B:A L:1
UPID
US38-1518407
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$190.48M
Owner & transaction history
Gateway Qozb LLC · 4 yrs held
Gateway Qozb LLC
since 2022
Last sale
$200.0M
5 recorded transactions
Zoning & alternative use
BA · Somerville, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville 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
$171,435,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$190.48M
Range $171.43M – $209.53M · ±10% · vs last sale $200.00M (Jun 3 2022)
Last sale anchor
$200.00M
Jun 3 2022
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
$70,081 / 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
$24,350
Tax year 2024
Assessed value
$1,337,900
Assessed 2024
Previous assessed
$1,329,100
+0.7% YoY
Effective rate
1.82%
On assessed value
Assessed land
$1,135,600
Assessed improvement
$202,300
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Total area
2,718 SF
Lot
0.25 ac (11,101 SF)
Zoning code
BA
APN
SOME M:113 B:A L:1
UPID
US38-1518407
Jurisdiction
SOMERVILLE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BA · Somerville, MA
Zoning BA · permitted uses
BA · Somerville, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Somerville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Gateway Qozb LLC
Entity
Mailing address
31 UN SQ, SOMERVILLE, MA 02143-3033
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2022
$5,000,000
Gateway Qozb LLC
216 Mcgrath Highway RT
Quit Claim Arm's Length For Ne States
$110,000,000 · Bank Ozk
Jun 3, 2022
$200,000,000
Us Mcgrath Owner LLC
Gateway Qozb LLC
Quit Claim Arm's Length For Ne States
$110,000,000 · Bank Ozk
Feb 24, 2003
—
216 Mcgrath Highway
—
Deed Of Trust
related
$250,000 · Citizens Bank Of Ma
Dec 29, 1998
—
216 Mcgrath Hwy RT
—
Deed Of Trust
related
$307,887 · Century Bank & Trust Co
Apr 6, 1990
—
Natl Plate Glass Co
—
Deed Of Trust
related
$375,000 · Century Bank & Trust Co
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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