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Property profile & analytics
OFF-MARKET
Estimated value
$7,685,000
Industrial properties
24 Spice St, Charlestown, MA 02129-1312
Entity Owned
1-yr Hold
Free & Clear
Property ID
US38-1722075
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1899
Construction
FRAME
Total area
20,448 SF
Lot
0.25 ac (10,869 SF)
Zoning code
I
APN
CHAR W:02 P:02154 S:000
UPID
US38-1722075
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
-
Wisteria & Rose Landscaping General Contractor
-
Boston Fire Protection Co General Contractor Security Service
-
Team Sunshine Construction, LLC. Electrical Service
-
Atw Electronics Industrial Manufacturer Production Facility
-
Ally Charter Bus Boston Travel Agency Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.40M
Blend (final)
Blend
$7.69M
Owner & transaction history
Bne Reo LLC · 1 yrs held
Bne Reo LLC
since 2025
Last sale
$7.7M
5 recorded transactions
Zoning & alternative use
I · Charlestown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.6M
+92.8%
Auto repair, garage
$12.0M
+84.5%
Retail stores
$11.0M
+68.5%
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 Charlestown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlestown 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
$7,710,000
ML approach
$7,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,520,000
Current use
OFFICE BUILDING
$12,565,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,030,000
Change: +85% · Conversion: Easy
RETAIL STORES
$10,990,000
Change: +69% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,850,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,745,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$7.69M
Range $6.92M – $8.45M · ±10% · vs last sale $7.70M (Nov 12 2020)
Last sale anchor
$7.70M
Nov 12 2020
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
$376 / 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
$63,410
Tax year 2024
Assessed value
$2,509,300
Assessed 2024
Previous assessed
$2,591,200
-3.2% YoY
Effective rate
2.53%
On assessed value
Assessed land
$588,900
Assessed improvement
$1,920,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1899
Construction
FRAME
Heating
NONE
Buildings
1
Stories
3
Units
4
Total area
20,448 SF
Lot
0.25 ac (10,869 SF)
Zoning code
I
APN
CHAR W:02 P:02154 S:000
UPID
US38-1722075
Jurisdiction
BOSTON
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Charlestown, MA
Zoning I · permitted uses
I · Charlestown, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlestown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.5M
OFFICE BUILDING
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$12.0M
RETAIL STORES
Est. value
$11.0M
COMMERCIAL (GENERAL)
Est. value
$9.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1899
Construction
FRAME
Heating
NONE
Stories
3
Buildings
1
Units
4
Lot
0.25 ac
Current owner
From public records · entity-resolved
Bne Reo LLC
Entity
Free & Clear · 1 yrs held
Mailing address
12 ERICSSON ST, DORCHESTER, MA 02122-3716
Ownership since
2025
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
May 6, 2025
$10,500,000
Bne Reo LLC
Rise Development II LLC
Deed
related
—
Feb 21, 2023
—
24-34 Spice LLC
—
Deed
related
$5,000,000 · Stonington Spice LLC
Nov 12, 2020
$7,700,000
Rise Development 2 LLC
Spice Street Holdings LLC
Quit Claim Arm's Length For Ne States
$10,294,400 · Bank Of New England NA
Jan 17, 2017
$800,000
Spice Street Holdings LLC
24 Spice Street LLC
Quit Claim Deed
$750,000 · 24 Spice Street LLC
Sep 2, 2005
$39,270
Spice St LLC 24
Greenbaum,alan
Grant Deed
—
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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