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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Investment properties
232 Main St Lee, MA 01238-1641
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1596275
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1930
Construction
FRAME
Total area
9,636 SF
Lot
0.24 ac (10,454 SF)
Zoning code
BM
APN
LEEE M:012 B:0A L:0000-0145.0
UPID
US38-1596275
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
-
Locker Room Sports Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$858k
Blend (final)
Blend
$865k
Owner & transaction history
Tekulve Realty LLC · 4 yrs held
Tekulve Realty LLC
since 2021
Last sale
$750,000
5 recorded transactions
Zoning & alternative use
BM · Lee, 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 Lee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lee 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
$1,165,000
ML approach
$1,085,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,410,000
Current use
RETAIL STORES
$1,385,000
Change: -2% · Conversion: Easy
OFFICE BUILDING
$1,345,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,250,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $750k (Oct 25 2021)
Last sale anchor
$750k
Oct 25 2021
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
$90 / 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
$7,683
Tax year 2024
Assessed value
$683,500
Assessed 2024
Previous assessed
$671,900
+1.7% YoY
Effective rate
1.12%
On assessed value
Assessed land
$155,600
Assessed improvement
$527,900
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1930
Construction
FRAME
Heating
HOT WATER
Buildings
2
Stories
2
Total area
9,636 SF
Lot
0.24 ac (10,454 SF)
Zoning code
BM
APN
LEEE M:012 B:0A L:0000-0145.0
UPID
US38-1596275
Jurisdiction
LEE
Zoning & alternative use
BM · Lee, MA
Zoning BM · permitted uses
BM · Lee, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1930
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Tekulve Realty LLC
Entity
Mailing address
232 MAIN ST, LEE, MA 01238-1641
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2021
$750,000
Tekulve Realty LLC
723 School Street LLC
Quit Claim Arm's Length For Ne States
$375,000 · Greylock FCU
Oct 25, 2021
—
Tekulve RT
—
Deed
related
$307,000 · Bay Colony Development Corp
Jan 22, 2007
$1
723 School Street LLC
Eisenberg,david M
Grant Deed
—
Oct 20, 2003
—
Donald J Lucy
—
Deed Of Trust
related
$310,000 · Thomas A Ricchi
Jun 9, 1992
—
Doonald J Lucy
—
Deed Of Trust
related
$22,500 · Gladys Lagrant
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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