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Property profile & analytics
OFF-MARKET
Estimated value
$4,320,000
Warehouses
226 Andover St Wilmington, MA 01887-1022
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0810806
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,658 SF
Lot
1.95 ac (84,942 SF)
APN
WILM M:00R1 L:0000 P:0201A
UPID
US38-0810806
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
-
Union Office Interiors Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.17M
CAP Approach
CAP
$4.11M
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$4.32M
Owner & transaction history
Andover St Rlty Hldg LLC · 3 yrs held
Andover St Rlty Hldg LLC
since 2023
Last sale
$4.6M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.0M
+99.6%
Auto repair, garage
$5.8M
+93.5%
Neighborhood: shopping center
$5.7M
+90.5%
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 Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington 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
$4,115,000
ML approach
$4,170,000
CAP Approach
CAP Return
Estimation
6%
$4,445,000
6.5%
$4,105,000
7%
$3,810,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,005,000
Current use
RESTAURANT
$5,995,000
Change: +100% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,815,000
Change: +94% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,725,000
Change: +90% · Conversion: Moderate
RETAIL STORES
$5,570,000
Change: +85% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,340,000
Change: +78% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,760,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$4.32M
Range $3.89M – $4.75M · ±10% · vs last sale $4.60M (May 15 2023)
Last sale anchor
$4.60M
May 15 2023
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
$209 / 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
$45,677
Tax year 2024
Assessed value
$1,741,400
Assessed 2024
Previous assessed
$1,609,200
+8.2% YoY
Effective rate
2.62%
On assessed value
Assessed land
$545,500
Assessed improvement
$1,195,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
20,658 SF
Lot
1.95 ac (84,942 SF)
APN
WILM M:00R1 L:0000 P:0201A
UPID
US38-0810806
Jurisdiction
WILMINGTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.0M
RESTAURANT
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$5.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.7M
RETAIL STORES
Est. value
$5.6M
COMMERCIAL (GENERAL)
Est. value
$5.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.8M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
1.95 ac
Current owner
From public records · entity-resolved
Andover St Rlty Hldg LLC
Entity
Mailing address
226 ANDOVER ST, WILMINGTON, MA 01887-1022
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2023
$4,600,000
Andover St Rlty Hldg LLC
226 Andover Street LLC
Quit Claim Arm's Length For Ne States
—
Jun 5, 2014
—
226 Andover Street LLC
Pga Realty Co LLC
Quit Claim Deed
related
—
Aug 8, 1997
—
Pga RT
—
Deed Of Trust
related
$425,000 · Americo Life INC
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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