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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Car washes
237 Water St, Wakefield, MA 01880-2582
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1039566
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
2001
Construction
STEEL FRAME
Total area
5,246 SF
Lot
0.67 ac (29,002 SF)
Zoning code
B
APN
WAKE M:000031 B:0081 P:000073
UPID
US38-1039566
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
-
Mr Awnings Building Supply Hardware & Home Improvement
-
Cape Ann Car Wash of Wakefield Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$1.47M
Owner & transaction history
Water St Wash J V RT · 5 yrs held
Water St Wash J V RT
since 2021
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
B · Wakefield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+3.2%
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 Wakefield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wakefield 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
$1,420,000
ML approach
$1,460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,475,000
Current use
RESTAURANT
$1,525,000
Change: +3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,455,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,415,000
Change: -4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,355,000
Change: -8% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,210,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±10% · vs last sale $1.50M (Jun 10 2021)
Last sale anchor
$1.50M
Jun 10 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
$280 / 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
$20,993
Tax year 2024
Assessed value
$967,400
Assessed 2024
Previous assessed
$825,900
+17.1% YoY
Effective rate
2.17%
On assessed value
Assessed land
$490,800
Assessed improvement
$476,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Car washes
Use group
CAR WASH
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
HOT WATER
Buildings
1
Stories
2
Units
1
Bathrooms
4
Total area
5,246 SF
Lot
0.67 ac (29,002 SF)
Zoning code
B
APN
WAKE M:000031 B:0081 P:000073
UPID
US38-1039566
Jurisdiction
WAKEFIELD
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Wakefield, MA
Zoning B · permitted uses
B · Wakefield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wakefield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
AUTO REPAIR, GARAGE Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
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
2001
Construction
STEEL FRAME
Heating
HOT WATER
Stories
2
Buildings
1
Units
1
Bathrooms
4
Lot
0.67 ac
Current owner
From public records · entity-resolved
Water St Wash J V RT
Individual
Mailing address
237 WATER ST, WAKEFIELD, MA 01880-2582
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2022
—
Water Street Wash J V RT
—
Deed
related
$100,000 · Salem Five Cents Savings Bank
Jun 10, 2021
$1,500,000
Water St Wash J V RT
Benedetto RT
Quit Claim Arm's Length For Ne States
$2,400,000 · Salem Five Cents Savings Bank
May 10, 2019
—
Benedetto RT
—
Deed
related
$550,000 · Middlesex Fsla
Aug 13, 2018
—
Benedetto RT Trust
S & F
Quit Claim Deed
related
—
Aug 21, 2014
—
S RT
—
Grant Deed
related
$300,000 · Middlesex Fsla
Apr 18, 2012
—
S RT
—
Deed Of Trust
related
$1 · Stoneham Savings Bank
Jun 29, 2011
—
S RT
—
Deed Of Trust
related
$780,000 · Stoneham Savings Bank
May 17, 2001
—
S RT
—
Deed Of Trust
related
$850,000 · Stoneham 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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