Back to Search
Property profile & analytics
FOR LEASE
Super regional malls
231 East Main St Milford, MA 01757
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US38-0157036
For Lease
1 / 8
$2,055,000
231 East Main St, Milford, MA 01757
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1988
Construction
STEEL FRAME
Total area
16,512 SF
Lot
1.28 ac (55,687 SF)
Zoning code
IC
APN
MILF M:32 B:072 L:4
UPID
US38-0157036
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.78M
Blend (final)
Blend
$2.06M
Owner & transaction history
Christie Realty LLC · 12 yrs held
Christie Realty LLC
since 2014
7 recorded transactions
Zoning & alternative use
IC · Milford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+49.4%
Retail stores
$2.6M
+24.3%
Auto repair, garage
$2.5M
+21.6%
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 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
NEIGHBORHOOD: SHOPPING CENTER
$2,085,000
Current use
RESTAURANT
$3,115,000
Change: +49% · Conversion: Difficult
RETAIL STORES
$2,590,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,535,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,015,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,980,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$1,845,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.06M
Range $1.85M – $2.26M · ±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
$124 / 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
$56,238
Tax year 2024
Assessed value
$2,334,500
Assessed 2024
Previous assessed
$2,334,500
+0.0% YoY
Effective rate
2.41%
On assessed value
Assessed land
$602,800
Assessed improvement
$1,731,700
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
7
Bathrooms
10
Total area
16,512 SF
Lot
1.28 ac (55,687 SF)
Zoning code
IC
APN
MILF M:32 B:072 L:4
UPID
US38-0157036
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.1M
RESTAURANT
Est. value
$3.1M
RETAIL STORES
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
7
Bathrooms
10
Lot
1.28 ac
Current owner
From public records · entity-resolved
Christie Realty LLC
Entity
Mailing address
16 BURROUGHS RD, LEXINGTON, MA 02420-1908
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2014
$2,500,000
Christie Realty LLC
Darn Properties LLC
Quit Claim Arm's Length For Ne States
$1,875,000 · Milford Natl Bk & Tr
Aug 4, 2005
$2,660,000
Darn Realty LLC
Rja Realty INC
Grant Deed
$3,200,000 · Country Bank
Dec 13, 2002
—
Rja Realty INC
—
Deed Of Trust
related
$1,400,000 · Citizens Bank Of Ri
Dec 4, 2002
$2,050,000
Rja Rlty INC
Meehan,kevin P
Grant Deed
—
May 2, 2000
$1,550,000
Kevin P Meehan
R&r Plains RT
Grant Deed
—
Jan 14, 1998
—
R RT
—
Deed Of Trust
related
$900,000 · Haymarket Co-op Bank
Feb 4, 1994
—
Kevin P Meehan
—
Deed Of Trust
related
$290,000 · Milford National Bank & Trust
Oct 9, 1990
—
R RT
—
Deed Of Trust
related
$267,800 · Zuckerman Family Nomi
Dec 21, 1988
—
R RT
—
Deed Of Trust
related
$1,500,000 · Milford 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
