New search
Property profile & analytics
OFF-MARKET
Turn key restaurants
234 John Wise Ave, Essex, MA 01929-1059
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1053952
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1958
Construction
FRAME
Total area
4,520 SF
Lot
19.31 ac (841,144 SF)
Zoning code
C00
APN
ESSE M:105 L:19
UPID
US38-1053952
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
-
Boat House Grille Essex Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
234 John Wise Ave LLC · 7 yrs held
234 John Wise Ave LLC
since 2018
7 recorded transactions
Zoning & alternative use
C00 · Essex, 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 Essex submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Essex 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$11,594
Tax year 2024
Assessed value
$870,400
Assessed 2024
Previous assessed
$870,400
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$443,000
Assessed improvement
$427,400
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1958
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Rooms
4
Bathrooms
5
Total area
4,520 SF
Lot
19.31 ac (841,144 SF)
Zoning code
C00
APN
ESSE M:105 L:19
UPID
US38-1053952
Jurisdiction
ESSEX
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
C00 · Essex, MA
Zoning C00 · permitted uses
C00 · Essex, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Essex. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Rooms
4
Bathrooms
5
Lot
19.31 ac
Current owner
From public records · entity-resolved
234 John Wise Ave LLC
Entity
Mailing address
6 MARKET ST FL, IPSWICH, MA 01938-2213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Apr 27, 2026
—
234 John Wise Ave LLC
—
Deed
related
$350,000
Mar 6, 2026
—
234 John Wise Ave LLC
—
Deed
related
$750,000 · Stephen R Caruso
Aug 15, 2025
—
234 John Wise Ave LLC
—
Deed
related
$1,165,500 · Bankgloucester (gloucester Coop Bank)
Feb 16, 2024
—
234 John Wise Ave LLC
—
Deed
related
$313,613 · Steven J Caruso Tr
Apr 14, 2021
—
234 John Wise Ave LLC
—
Deed
related
$330,000 · Wheeler Point T
Oct 12, 2018
$844,132
234 John Wise Ave LLC
234 John Wise LLC
Quit Claim Deed
$422,066 · Bankgloucester
Apr 14, 2016
$500,000
234 John Wise LLC
Castle Creek Real Esta
Quit Claim Arm's Length For Ne States
$500,000 · Cape Ann Savings Bank
Nov 2, 2012
$150,000
Castle Creek Re LLC
Broderick,john A
Grant Deed
—
Dec 7, 1998
—
John A Broderick
—
Deed Of Trust
related
$450,000 · First National Bank Ipswch
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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