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Property profile & analytics
FOR LEASE
Manufacturing properties
23 Esquire Rd, North Billerica, MA 01862
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1894826
For Lease
1 / 2
$20,240,000
23 Esquire Rd, North Billerica, MA 01862
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1975
Construction
FRAME
Total area
148,890 SF
Lot
6.99 ac (304,484 SF)
Zoning code
5
APN
BILL M:0048 B:0046 L:1
UPID
US38-1894826
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
-
Bruce Technologies Inc Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.37M
Comparable Approach
Comparable
$22.73M
Blend (final)
Blend
$20.24M
Owner & transaction history
Mcp 3 23 Esquire LLC · 4 yrs held
Mcp 3 23 Esquire LLC
since 2022
Last sale
$20.6M
1 recorded transaction
Zoning & alternative use
5 · North Billerica, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$27.2M
+31.9%
Office building
$22.1M
+7.2%
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 North Billerica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Billerica 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
$17,660,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,395,000
6.5%
$24,365,000
7%
$22,625,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$20,645,000
Current use
COMMERCIAL (GENERAL)
$27,235,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$22,135,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$20.24M
Range $18.22M – $22.26M · ±10% · vs last sale $20.60M (Jun 23 2022)
Last sale anchor
$20.60M
Jun 23 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
$136 / 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
$460,632
Tax year 2024
Assessed value
$18,359,200
Assessed 2024
Previous assessed
$10,253,500
+79.1% YoY
Effective rate
2.51%
On assessed value
Assessed land
$2,180,100
Assessed improvement
$16,179,100
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1975
Construction
FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
148,890 SF
Lot
6.99 ac (304,484 SF)
Zoning code
5
APN
BILL M:0048 B:0046 L:1
UPID
US38-1894826
Jurisdiction
BILLERICA
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
5 · North Billerica, MA
Zoning 5 · permitted uses
5 · North Billerica, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Billerica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$20.6M
COMMERCIAL (GENERAL)
Est. value
$27.2M
OFFICE BUILDING
Est. value
$22.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1975
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
6.99 ac
Current owner
From public records · entity-resolved
Mcp 3 23 Esquire LLC
Entity
Mailing address
2 INTERNATIONAL PL #2410, BOSTON, MA 02110-4142
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
Jun 23, 2022
$20,600,000
Mcp 3 23 Esquire LLC
Btu International INC
Quit Claim Arm's Length For Ne States
$14,420,000 · Webster Five Cents 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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