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Property profile & analytics
OFF-MARKET
Estimated value
$31,030,000
Investment properties
245 Riv St Fitchburg, MA 01420-3282
Entity Owned
11-yr Hold
Property ID
US38-2277530
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
281,196 SF
Lot
8.7 ac (378,972 SF)
Zoning code
AI
APN
FITC M:0027 B:0001 L:0
UPID
US38-2277530
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
-
R&M Landscaping Construction Company
-
Riverside Commons Apartments Apartment Building
-
Sportybella (Bike/Boat/Book/etc) Store Clothing & Fashion Store
-
Infinity Collection - Jewelry for Every Occasion (Bike/Boat/Book/etc) Store
-
Marianos Italian Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$39.02M
Comparable Approach
Comparable
$19.45M
Blend (final)
Blend
$31.03M
Owner & transaction history
245 Riverside Place 2 LLC · 11 yrs held
245 Riverside Place 2 LLC
since 2014
3 recorded transactions
Zoning & alternative use
AI · Fitchburg, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$40.7M
+116.1%
Neighborhood: shopping center
$35.5M
+88.3%
Retail stores
$34.6M
+83.6%
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 Fitchburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fitchburg 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%
$42,265,000
6.5%
$39,015,000
7%
$36,230,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$18,845,000
Current use
AUTO REPAIR, GARAGE
$40,715,000
Change: +116% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$35,490,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$34,605,000
Change: +84% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$33,740,000
Change: +79% · Conversion: Moderate
WAREHOUSE, STORAGE
$28,210,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$25,575,000
Change: +36% · Conversion: Easy
Blend value · Realmo final
$31.03M
Range $27.93M – $34.13M · ±10%
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
$110 / 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
$253,426
Tax year 2024
Assessed value
$17,111,800
Assessed 2024
Previous assessed
$16,668,400
+2.7% YoY
Effective rate
1.48%
On assessed value
Assessed land
$4,512,000
Assessed improvement
$12,599,800
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
186
Rooms
727
Bathrooms
196
Total area
281,196 SF
Lot
8.7 ac (378,972 SF)
Zoning code
AI
APN
FITC M:0027 B:0001 L:0
UPID
US38-2277530
Jurisdiction
FITCHBURG
Zoning & alternative use
AI · Fitchburg, MA
Zoning AI · permitted uses
AI · Fitchburg, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fitchburg. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$18.8M
AUTO REPAIR, GARAGE
Est. value
$40.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$35.5M
RETAIL STORES
Est. value
$34.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.7M
WAREHOUSE, STORAGE
Est. value
$28.2M
OFFICE BUILDING
Est. value
$25.6M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1900
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
186
Rooms
727
Bathrooms
196
Lot
8.7 ac
Current owner
From public records · entity-resolved
245 Riverside Place 2 LLC
Entity
Mailing address
9 OLD DERRY RD, HUDSON, NH 03051-3310
Ownership since
2014
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
Dec 12, 2024
—
245 River St Place LLC
—
Deed
related
$12,700,000 · Massachusetts Housing Partnership Fund
Oct 9, 2014
—
245 Riverside Place 2 LLC
245 River Street Pl LLC
Quit Claim Deed
related
—
—
—
245 Riverside Place 2 LLC
—
Deed Of Trust
related
$5,600,000 · Bank Of New England
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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