Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24 Cook St Billerica, MA 01821-6043

    • Manufacturing properties
    • 15,000 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2022
    $3,200,000
    Value Estimations
    $2,530,000
    Show details
    Cap Rate Potential
    5.8%
    Manufacturing properties
    Location Intelligence
    Property ID
    US38-0740030
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dot 05 Optical Comm Inc / Optician

    Property Details for 24 Cook St

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    2.00 lot acres
    Property size
    15,000 SF
    Zone code
    5
    Property type
    Manufacturing properties
    APN
    BILL M:0090 B:0230 L:2
    APU
    BILLM0090B0230L2

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,745,000
      ML approach
      $2,835,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,660,000
      6.5%
      $2,455,000
      7%
      $2,280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,039,000
      Market price range: $956k - $2.39M
      AI Estimate
      $1,949,000
      Market price range: $420k - $2.39M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,665,000
      Current use
      RESTAURANT
      $4,355,000
      Change: +161% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,220,000
      Change: +153% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $4,155,000
      Change: +149% Conversion: Difficult
      RETAIL STORES
      $4,045,000
      Change: +143% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $3,455,000
      Change: +107% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,745,000
      Change: +65% Conversion: Difficult
      OFFICE BUILDING
      $2,190,000
      Change: +31% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Billerica
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2292
    Latitude
    42.5364
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $56,468
    $482,600
    $1,768,000
    $2,250,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $550,000
      21,600 SF

      20 Fortune Dr

      MANUFACTURING (LIGHT) • 21,600 SF
      20 Fortune Dr, Billerica, MA 01821-3922
      View Details
    • Value Estimation
      $500,000
      27,022 SF

      1 Plank St

      MANUFACTURING (LIGHT) • 27,022 SF
      1 Plank St, Billerica, MA 01821-5726
      View Details
    • Value Estimation
      $545,000
      31,232 SF

      144-148 Rangeway Rd

      MANUFACTURING (LIGHT) • 31,232 SF
      144-148 Rangeway Rd, Billerica, MA 01821
      View Details
    • Value Estimation
      $705,000
      44,694 SF

      6 Enterprise Rd

      MANUFACTURING (LIGHT) • 44,694 SF
      6 Enterprise Rd, Billerica, MA 01821-5735
      View Details
    • Value Estimation
      $805,000
      9,299 SF

      19 Linnell Cir

      MANUFACTURING (LIGHT) • 9,299 SF
      19 Linnell Cir, Billerica, MA 01821-3928
      View Details
    • Value Estimation
      $595,000
      22,160 SF

      42 Manning Rd

      MANUFACTURING (LIGHT) • 22,160 SF
      42 Manning Rd, Billerica, MA 01821-3915
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Billerica Flex, R&D, Office Building

      Two-story, 40,000 SF flex/R&D/office building in established park setting.
      4 Federal St, Billerica, MA 01821
      View Details
    • $550,000

      Industrial Condo For Sale

      Industrial condo convenient to routes 129, 3, and 3A.
      83 Alexander Rd, Billerica, MA 01821
      View Details
    • Contact for pricing
      12,000 SF

      Executive Office Suites, Billerica, MA

      Six units, 12,000 SF total, prime location.
      574 Boston Rd, Billerica, MA 01821
      View Details
    • $950,000
      2.98 Acres

      Land with Colonial Home

      2.98 acres with a well-maintained Georgian Colonial home.
      51 Whipple Rd, Billerica, MA 01821
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,700 SF

      Technology Park Office/Industrial Space

      Multi-tenant office/industrial space in Billerica's Technology Park.
      700 Technology Park Dr, Billerica, MA 01821
      View Details
    • Contact for pricing
      13,630 SF

      Billerica Flex Space Available

      Flex space with open floor plan and convenient highway access.
      3 Federal St, Billerica, MA 01821
      View Details
    • Contact for pricing
      16,440 SF

      Billerica Flex Space - 16,440 SF

      Single-tenant industrial flex space in Billerica, MA.
      10 Fortune Dr, Billerica, MA 01821
      View Details
    • Contact for pricing
      11,070 SF

      Billerica Flex Space Available

      21,470 SF flex space for lease in Billerica.
      46 Manning Rd, Billerica, MA 01821
      View Details
    • Contact for pricing

      Sublease Opportunity with Modern Upgrades

      Available for sublease, featuring new roof, facade, and HVAC.
      Billerica, MA 01821
      View Details
    • Contact for pricing
      20,000 SF

      Industrial Space Near Major Routes

      20,000 SF industrial space with convenient highway access.
      45 Dunham Rd, Billerica, MA 01821
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24 Cook St
    Billerica, MA 01821-6043
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.