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Property profile & analytics
OFF-MARKET
Estimated value
$3,050,000
Office Spaces
228 Pleasant St 238 Methuen, MA 01844-7136
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-2386170
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1965
Construction
FRAME
Total area
31,320 SF
Zoning code
BL
APN
METH M:00812 B:00059 L:99228
UPID
US38-2386170
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
-
Salon Bella Donna Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.46M
Blend (final)
Blend
$3.05M
Owner & transaction history
Saisa Realty LLC · 4 yrs held
Saisa Realty LLC
since 2022
Last sale
$2.8M
1 recorded transaction
Zoning & alternative use
BL · Methuen, 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 Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen 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
$3,455,000
ML approach
$3,040,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,405,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.05M
Range $2.75M – $3.36M · ±10% · vs last sale $2.77M (Jul 14 2022)
Last sale anchor
$2.77M
Jul 14 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
$97 / 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
$49,667
Tax year 2024
Assessed value
$2,365,100
Assessed 2024
Previous assessed
$2,365,100
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed improvement
$2,365,100
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
1965
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
25
Total area
31,320 SF
Zoning code
BL
APN
METH M:00812 B:00059 L:99228
UPID
US38-2386170
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BL · Methuen, MA
Zoning BL · permitted uses
BL · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Methuen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$4.4M
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
1965
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
25
Current owner
From public records · entity-resolved
Saisa Realty LLC
Entity
Mailing address
240 PLEASANT ST, METHUEN, MA 01844-7134
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
$2,773,000
Saisa Realty LLC
Eastie Irt
Quit Claim Arm's Length For Ne States
$2,080,000 · Enterprise 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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