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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
Office buildings
231 3rd St, Cambridge, MA 02142-1129
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0343540
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1916
Construction
FRAME
Total area
2,548 SF
Lot
0.06 ac (2,649 SF)
Zoning code
IA-1
APN
CAMB M:00027 L:00034
UPID
US38-0343540
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
-
Cambridge Concrete Foundations & Excavation Pros Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.82M
CAP Approach
CAP
$1.62M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.62M
Owner & transaction history
231 Third Street LLC · 5 yrs held
231 Third Street LLC
since 2020
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
IA-1 · Cambridge, 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 Cambridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cambridge 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
$1,720,000
ML approach
$1,815,000
CAP Approach
CAP Return
Estimation
6%
$1,755,000
6.5%
$1,620,000
7%
$1,500,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,380,000
Current use
COMMERCIAL (GENERAL)
$1,130,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±10% · vs last sale $1.62M (Dec 24 2020)
Last sale anchor
$1.62M
Dec 24 2020
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
$634 / 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
$11,498
Tax year 2024
Assessed value
$1,099,200
Assessed 2024
Previous assessed
$1,099,200
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$543,000
Assessed improvement
$556,200
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
1916
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
10
Bathrooms
2
Total area
2,548 SF
Lot
0.06 ac (2,649 SF)
Zoning code
IA-1
APN
CAMB M:00027 L:00034
UPID
US38-0343540
Jurisdiction
CAMBRIDGE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
IA-1 · Cambridge, MA
Zoning IA-1 · permitted uses
IA-1 · Cambridge, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cambridge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1916
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
10
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
231 Third Street LLC
Entity
Mailing address
271 LINCOLN ST STE #10, LEXINGTON, MA 02421-7527
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2020
$1,615,000
231 Third Street LLC
229-231 Third St Rlty LLC
Quit Claim Arm's Length For Ne States
$1,211,250 · Boston Private Bank & Trust Company
Jan 18, 2019
—
229-231 3rd Street Realty
Kauffman,joyce
Quit Claim Deed
related
—
Aug 15, 2008
—
Graham Bell T Alexander
—
Deed Of Trust
related
$5,000,000 · Rockland Trust Co
Nov 30, 2007
$580,000
Joyce Kauffman
Mary Harris
Deed
$464,000 · E Cambridge Svgs Bk
Nov 30, 2007
—
Kauffman,joyce
—
Grant Deed
related
$58,000 · Mary Harris
May 15, 1998
$355,000
Mary Harris
Miller,stephen A
Grant Deed
—
Oct 3, 1995
$38,333
Steven A Miller
Nemet,harold J
Grant Deed
$158,700 · E Cambridge 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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