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    Property profile & analytics

    244 Newburyport Tpke Rowley, MA 01969-2015

    • Commercial real estate
    • 4,938 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Feb 02, 2021
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1809064
    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

    • Drapery Revival / Hardware & Home Improvement / Interior Design
    • Serendipity Vintage Goods / Home Decor Store / Department Store
    • A P Vending & Amusement Co / Big Box & Wholesale Store
    • Rheebo / Business Service Center / Corporate Office
    • S&H Green Stamps / Marketing & Advertising

    Property Details for 244 Newburyport Tpke

    Year built
    1980
    Construction
    FRAME
    Lot size
    0.92 lot acres
    Property size
    4,938 SF
    Property type
    Commercial real estate
    APN
    ROWL M:0013 B:0012 L:0001
    APU
    ROWLM0013B0012L0001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $636,000
      Market price range: $562k - $1.56M
      AI Estimate
      $507,000
      Market price range: $412k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rowley
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9084
    Latitude
    42.7097
    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
    $11,274
    $466,900
    $464,800
    $931,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $665,000
      3,380 SF

      266 Haverhill St

      COMMERCIAL (GENERAL) • 3,380 SF
      266 Haverhill St, Rowley, MA 01969-2100
      View Details
    • Value Estimation
      $1,220,000
      4,200 SF

      1000 Haverhill St

      COMMERCIAL (GENERAL) • 4,200 SF
      1000 Haverhill St, Rowley, MA 01969-2447
      View Details
    • Value Estimation
      $710,000
      2,597 SF

      421 Newburyport Tpke

      COMMERCIAL (GENERAL) • 2,597 SF
      421 Newburyport Tpke, Rowley, MA 01969-1728
      View Details
    • Value Estimation
      $1,480,000
      1,300 SF

      237 Dodge Rd

      COMMERCIAL (GENERAL) • 1,300 SF
      237 Dodge Rd, Rowley, MA 01969-2207
      View Details
    • Value Estimation
      $720,000
      1,984 SF

      60 Main St

      COMMERCIAL (GENERAL) • 1,984 SF
      60 Main St, Rowley, MA 01969-1809
      View Details
    • Value Estimation by Request
      7,500 SF

      111 Newburyport Tpke

      SHOW ROOM, WAREHOUSE • 7,500 SF
      111 Newburyport Tpke, Rowley, MA 01969-2107
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Three Acres of Land

      Three acres of land in a quiet, beautiful area.
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      Land on Wethersfield Street

      Two adjacent lots in Rowley, Massachusetts, for sale.
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      Scenic Pasture Land For Sale

      21 acres suitable for horse farm or family compound.
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      Rowley Land Opportunity

      Three continuous lots totaling 3.07 acres in Rowley, MA.
      460 Newburyport Tpke, Rowley, MA 01969
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    Similar Nearby for Lease

    • $13 SF/Yr
      3,700 SF

      Professional Office Suite on Route 1

      3,700 SF office suite in Rowley Business Park.
      319 Newburyport Tpke, Rowley, MA 01969
      View Details
    • $15 SF/Yr
      12,000 SF

      Customizable Industrial Space in Rowley

      Build-to-suit industrial space up to 12,000 SF in Rowley.
      116-120 Newburyport Tpke, Rowley, MA 01969
      View Details
    • $13 SF/Yr
      1,500 SF

      Rowley Industrial Space for Lease

      1,500 SF industrial space ideal for manufacturing or warehouse.
      319 Newburyport Tpke, Rowley, MA 01969
      View Details
    • Contact for pricing
      56,377 SF

      Rowley Flex Space Opportunity

      56,377 SF Class A flex space available for rent.
      428 Newburyport Tpke, Rowley, MA 01969
      View Details
    • Contact for pricing

      Available Class A Flex Space

      56,377 SF Class A flex space opportunity for rent.
      Rowley, MA 01969
      View Details
    • Contact for pricing

      Industrial Single Tenant Warehouse Space

      Single tenant industrial warehouse space available for lease.
      319 Newburyport Tpke, Rowley, MA 01969
      View Details
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    Rowley, MA 01969-2015
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    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
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