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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Retail space
231 Belmont St Belmont, MA 02478-3607
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-0427136
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1906
Construction
FRAME
Total area
4,882 SF
Lot
0.18 ac (7,958 SF)
Zoning code
LB3
APN
BELM M:02 P:000061 S:
UPID
US38-0427136
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
-
MyEyeDr. Eye Care Center Contact Lenses Supplier
-
Bennett Family Eye Care Physician
-
Rebecca Maida, O.D. Physician
-
Linda Bennett, O.D. Physician
-
Kathleen Barr, OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$515k
Blend (final)
Blend
$825k
Owner & transaction history
Lrbh 2 LLC · 20 yrs held
Lrbh 2 LLC
since 2005
4 recorded transactions
Zoning & alternative use
LB3 · Belmont, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+4.4%
Neighborhood: shopping center
$1.4M
+2.8%
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 Belmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmont 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%
$1,170,000
6.5%
$1,080,000
7%
$1,000,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,315,000
Current use
AUTO REPAIR, GARAGE
$1,375,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,355,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,260,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$1,070,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$169 / 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
$18,396
Tax year 2024
Assessed value
$1,742,000
Assessed 2024
Previous assessed
$1,615,000
+7.9% YoY
Effective rate
1.06%
On assessed value
Assessed land
$885,000
Assessed improvement
$857,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1906
Construction
FRAME
Heating
FORCED AIR
Buildings
2
Stories
2
Rooms
18
Bathrooms
4
Total area
4,882 SF
Lot
0.18 ac (7,958 SF)
Zoning code
LB3
APN
BELM M:02 P:000061 S:
UPID
US38-0427136
Jurisdiction
BELMONT
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
LB3 · Belmont, MA
Zoning LB3 · permitted uses
LB3 · Belmont, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmont. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1906
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
2
Rooms
18
Bathrooms
4
Lot
0.18 ac
Current owner
From public records · entity-resolved
Lrbh 2 LLC
Entity
Free & Clear · 20 yrs held
Mailing address
101 CHILTON ST, BELMONT, MA 02478-3208
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2011
—
Linda Bennett
—
Deed Of Trust
related
$86,000 · Belmont Savings Bank
Dec 20, 2010
—
Lrbh 2 LLC
—
Deed Of Trust
related
$880,000 · Belmont Savings Bank
Nov 23, 2005
$1
Lrbh 2 LLC
Bennett,linda M
Grant Deed
related
—
Mar 16, 2005
$926,000
Linda M Bennett
Reardon,james M
Grant Deed
$740,800 · Belmont 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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