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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Office buildings
229 Main St, Milford, MA 01757-2832
Entity Owned
30-yr Hold
~
Est. High Equity
Property ID
US38-0846792
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
FRAME
Total area
9,988 SF
Lot
1.8 ac (78,408 SF)
Zoning code
IC
APN
MILF M:32 B:072 L:7
UPID
US38-0846792
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
-
Community Pediatrics of Milford Hospital Children's Hospital
-
Thanh Tam Huynh Physician
-
Sergio Korndorfer, MD Physician
-
Dr. Luigi Querusio, MD Physician
-
Ashley Flynn, LMHC Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.55M
Owner & transaction history
Jette Realty Corp · 30 yrs held
Jette Realty Corp
since 1996
5 recorded transactions
Zoning & alternative use
IC · Milford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+68.9%
Retail stores
$1.6M
+40.5%
Auto repair, garage
$1.5M
+37.4%
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 Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford 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
$1,115,000
Current use
RESTAURANT
$1,885,000
Change: +69% · Conversion: Moderate
RETAIL STORES
$1,565,000
Change: +41% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,530,000
Change: +37% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,260,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,220,000
Change: +9% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,200,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$1,000,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±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
$155 / 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
$31,534
Tax year 2024
Assessed value
$1,309,000
Assessed 2024
Previous assessed
$1,309,000
+0.0% YoY
Effective rate
2.41%
On assessed value
Assessed land
$542,700
Assessed improvement
$766,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
5
Bathrooms
11
Total area
9,988 SF
Lot
1.8 ac (78,408 SF)
Zoning code
IC
APN
MILF M:32 B:072 L:7
UPID
US38-0846792
Jurisdiction
MILFORD
Zoning & alternative use
IC · Milford, MA
Zoning IC · permitted uses
IC · Milford, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.9M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.0M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
5
Bathrooms
11
Lot
1.8 ac
Current owner
From public records · entity-resolved
Jette Realty Corp
Entity
Mailing address
219 E MAIN ST STE #102, MILFORD, MA 01757-2823
Ownership since
1996
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
Apr 10, 2001
—
Jette Realty Corp
—
Deed Of Trust
related
$50,000 · Milford National Bank & Trust
Apr 11, 2000
—
Jette Realty Corp
—
Deed Of Trust
related
$595,000 · Milford National Bank & Trust
Mar 29, 1996
—
Kevin P Meehan
—
Deed Of Trust
related
$457,500 · Milford National Bank & Trust
Jan 29, 1996
$460,000
Jette Realty Corp
R&r Plains RT
Grant Deed
$450,000 · Bay State Savings Bank
Jan 29, 1996
—
Jette Realty Corp
—
Deed Of Trust
related
$113,000 · Bay State 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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