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Property profile & analytics
OFF-MARKET
Estimated value
$2,315,000
Office buildings
23 Concord St Wilmington, MA 01887-2131
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US38-0688460
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Total area
7,991 SF
Lot
2.19 ac (95,396 SF)
APN
WILM M:0077 L:0000 P:0011H
UPID
US38-0688460
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
-
Richmond Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$2.32M
Owner & transaction history
Richmond 23 Concord LLC · 13 yrs held
Richmond 23 Concord LLC
since 2013
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+32.6%
Auto repair, garage
$2.3M
+28.6%
Neighborhood: shopping center
$2.2M
+26.6%
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
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
$1,750,000
Current use
RESTAURANT
$2,320,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,250,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,215,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$2,155,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,065,000
Change: +18% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,840,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$2.32M
Range $2.08M – $2.55M · ±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
$290 / 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
$28,811
Tax year 2024
Assessed value
$1,098,400
Assessed 2024
Previous assessed
$1,098,400
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$487,500
Assessed improvement
$610,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1981
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Units
1
Total area
7,991 SF
Lot
2.19 ac (95,396 SF)
APN
WILM M:0077 L:0000 P:0011H
UPID
US38-0688460
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
OFFICE BUILDING Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
RETAIL STORES
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
OFFICE BUILDING 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
1981
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
2.19 ac
Current owner
From public records · entity-resolved
Richmond 23 Concord LLC
Entity
Mailing address
23 CONCORD ST, WILMINGTON, MA 01887-2131
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2018
—
Richmond 23 Concord Ll
—
Deed
related
$400,000 · Eastern Bank
May 31, 2013
—
Richmond 23 Concord LLC
—
Deed Of Trust
related
$2,238,965 · Gary Needham
May 30, 2013
—
Richmond 23 Concord LLC
23 Wilmington LLC
Quit Claim Deed
related
—
May 8, 2012
$1
Richmond 23 Concord LLC
Richmond Norway Dev LLC
Grant Deed
related
—
Dec 30, 2009
$1
Richmond Norway Dev LLC
23 Wilmington LLC
Grant Deed
—
Dec 30, 2009
—
23 Wilmington LLC
—
Grant Deed
related
$900,000 · Td Bank NA
Feb 12, 2009
$91,085
Richmond Norway Dev LLC
23 Wilmington LLC
Grant Deed
—
Oct 3, 2008
$296,000
23 Wilmington LLC
Richmond Middleton LLC
Grant Deed
—
Oct 3, 2008
$400,000
Richmond 23 Concord LLC
7 Essex Green T
Grant Deed
—
Oct 3, 2008
$803,578
Richmond Bangor Dev LLC
23 Wilmington LLC
Grant Deed
—
Aug 16, 2007
$296,000
Richmond Middleton LLC
23 Wilmington LLC
Grant Deed
—
Apr 9, 2007
$400,000
Essex Green T
23 Wilmington LLC
Grant Deed
—
Dec 22, 2005
$1,600,000
23 Wilmington LLC
Blue Angel RT
Grant Deed
$2,000,000 · Worth Funding INC
Dec 3, 1998
$1,200,000
Angel RT Blue
Wilmington RT
Grant Deed
$850,000 · Northmark Bank
Jul 9, 1997
$1,500
Helen L Mclaughlin
Felton,jackson
Grant Deed
related
—
Dec 31, 1992
$392,000
Wilmington RT
23 Concord St RT
Grant Deed
$245,000 · First Trade Union Savings Bank
Apr 1, 1987
—
Howard J Mintz
—
Deed Of Trust
related
$700,000 · Shawmut Arlington Tr
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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