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Property profile & analytics
OFF-MARKET
Estimated value
$1,290,000
Office buildings
242 John Wise Ave Essex, MA 01929-1027
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0970516
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
FRAME
Total area
5,622 SF
Lot
1 ac (43,560 SF)
Zoning code
C00
APN
ESSE M:103 L:1
UPID
US38-0970516
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
-
Thompson Medical Associates Medical Clinic
-
BB Botanics (Bike/Boat/Book/etc) Store
-
Shea Brothers Interiors Interior Design Home Decor Store
-
Dooling Enterprises Construction Company General Contractor
-
Quinn Group Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.29M
Owner & transaction history
John Trembley · 5 yrs held
John Trembley
since 2020
Last sale
$1
7 recorded transactions
Zoning & alternative use
C00 · Essex, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+34.3%
Apartment house (5+ units)
$1.8M
+24.4%
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
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
OFFICE BUILDING
$1,445,000
Current use
RESTAURANT
$1,940,000
Change: +34% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,800,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,345,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$1,250,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.29M
Range $1.16M – $1.42M · ±10% · vs last sale $1 (Oct 2 2020)
Last sale anchor
$1
Oct 2 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
$229 / 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
$10,973
Tax year 2024
Assessed value
$823,800
Assessed 2024
Previous assessed
$672,700
+22.5% YoY
Effective rate
1.33%
On assessed value
Assessed land
$370,300
Assessed improvement
$453,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
4
Rooms
10
Bathrooms
2
Total area
5,622 SF
Lot
1 ac (43,560 SF)
Zoning code
C00
APN
ESSE M:103 L:1
UPID
US38-0970516
Jurisdiction
ESSEX
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
C00 · Essex, MAZoning C00 · permitted uses
C00 · Essex, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1969
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
4
Rooms
10
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
John Trembley
Individual
Mailing address
5 CONN STE, WOBURN, MA 01801-5668
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2020
$725,000
John Trembley
Marsh
Quit Claim Deed
$850,000 · Haralambos Katsidis
Dec 29, 2016
—
Marsh RT
Thomas P Shea
Quit Claim Deed
related
$350,000 · Inst Svgs Newburyport
Sep 18, 2013
$4,000
Cnty Greenbelt Assn Essex
Shea,thomas P & Mark S
Quit Claim Deed
—
May 3, 2011
$1
Thomas P Shea
Shea,thomas P
Grant Deed
related
—
Jul 27, 2006
$1
Thomas P Shea
Marsh RT
Grant Deed
—
May 28, 2004
—
Marsh RT
—
Deed Of Trust
related
$200,000 · Ipswich Cp Bank
Feb 16, 2001
—
Marsh RT
—
Deed Of Trust
related
$100,000 · Ipswich Cp Bank
Jun 12, 1998
—
Mark S Shea
—
Deed Of Trust
related
$116,212 · First National Bank Ipswch
Feb 22, 1989
—
Thomas P Shea
—
Deed Of Trust
related
$35,000 · First National Bank Ipswch
Apr 6, 1988
—
Mark S Shea
—
Deed Of Trust
related
$60,000 · First National Bank Ipswch
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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