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Property profile & analytics
OFF-MARKET
Retail space
241 John Wise Ave, Essex, MA 01929-1065
Individually Owned
17-yr Hold
Free & Clear
Property ID
US38-0950022
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1963
Construction
FRAME
Total area
840 SF
Lot
0.7 ac (30,492 SF)
Zoning code
C00
APN
ESSE M:103 L:2
UPID
US38-0950022
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
-
DownRiver Ice Cream Grocery & Convenience Store Specialty Food Shop
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
Downriver RT · 17 yrs held
Downriver RT
since 2009
3 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
$5,187
Tax year 2024
Assessed value
$389,400
Assessed 2024
Previous assessed
$333,900
+16.6% YoY
Effective rate
1.33%
On assessed value
Assessed land
$342,500
Assessed improvement
$46,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1963
Construction
FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
840 SF
Lot
0.7 ac (30,492 SF)
Zoning code
C00
APN
ESSE M:103 L:2
UPID
US38-0950022
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
1963
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.7 ac
Current owner
From public records · entity-resolved
Downriver RT
Individual
Free & Clear · 17 yrs held
Mailing address
PO BOX 1022, ESSEX, MA 01929-0019
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2020
—
Downriver RT
—
Deed
related
$275,000 · Institution For Savings Newburyport
Jan 22, 2009
$1
Downriver RT
Ahearn,amy
Grant Deed
—
Sep 22, 2008
$160,000
Joseph B Ahearn
Harrington Arthur JR Est
Grant Deed
$220,000 · Cape Ann 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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