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Property profile & analytics
OFF-MARKET
Estimated value
$15,505,000
Warehouses
235 Barnum Rd Devens, MA 01434-5203
Individually Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-2270550
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
186,000 SF
Lot
16.02 ac (697,831 SF)
Zoning code
C
APN
DEVE M:020.0 B:0013 L:1000.0
UPID
US38-2270550
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
$20.52M
Blend (final)
Blend
$15.51M
Owner & transaction history
Thomson Logistics Assets
Thomson Logistics Assets
1 recorded transaction
Zoning & alternative use
C · Devens, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$25.3M
+35.5%
Commercial (general)
$25.2M
+34.9%
Neighborhood: shopping center
$23.5M
+25.8%
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 Devens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Devens 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
WAREHOUSE, STORAGE
$18,660,000
Current use
OFFICE BUILDING
$25,290,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$25,175,000
Change: +35% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$23,475,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$22,315,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$15.51M
Range $13.95M – $17.06M · ±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
$83 / 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
$224,488
Tax year 2024
Assessed value
$12,872,000
Assessed 2024
Previous assessed
$12,255,000
+5.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,572,400
Assessed improvement
$11,299,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Heating
NONE
Buildings
2
Total area
186,000 SF
Lot
16.02 ac (697,831 SF)
Zoning code
C
APN
DEVE M:020.0 B:0013 L:1000.0
UPID
US38-2270550
Jurisdiction
DEVENS
Zoning & alternative use
C · Devens, MA
Zoning C · permitted uses
C · Devens, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Devens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$18.7M
OFFICE BUILDING
Est. value
$25.3M
COMMERCIAL (GENERAL)
Est. value
$25.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$23.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$22.3M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
2000
Heating
NONE
Buildings
2
Lot
16.02 ac
Current owner
From public records · entity-resolved
Thomson Logistics Assets
Individual
Mailing address
13155 NOEL RD STE #100, DALLAS, TX 75240-5050
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Thomson Logistics Assets
—
Deed Of Trust
related
$472,000,000 · Miscellaneous Ins Co
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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