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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Investment properties
246 Prospect St, Norwell, MA 02061-1125
Entity Owned
17-yr Hold
Property ID
US38-0262357
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Total area
3,242 SF
Lot
2.43 ac (105,851 SF)
APN
NORW M:35 L:47
UPID
US38-0262357
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$672k
Blend (final)
Blend
$630k
Owner & transaction history
Hornstra Farm Norwell LLC · 17 yrs held
Hornstra Farm Norwell LLC
since 2009
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$815,000
+38.0%
Retail stores
$675,000
+13.9%
Auto repair, garage
$670,000
+13.6%
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 Norwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norwell 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
$440,000
CAP Approach
CAP Return
Estimation
6%
$520,000
6.5%
$480,000
7%
$445,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$590,000
Current use
OFFICE BUILDING
$815,000
Change: +38% · Conversion: Easy
RETAIL STORES
$675,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$670,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$194 / 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
$32,530
Tax year 2024
Assessed value
$2,416,800
Assessed 2024
Previous assessed
$1,964,600
+23.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$934,600
Assessed improvement
$1,482,200
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Cooling
YES
Buildings
4
Units
2
Total area
3,242 SF
Lot
2.43 ac (105,851 SF)
APN
NORW M:35 L:47
UPID
US38-0262357
Jurisdiction
NORWELL
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$590,000
OFFICE BUILDING
Est. value
$815,000
RETAIL STORES
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$670,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
Heating
NONE
Cooling
Yes
Buildings
4
Units
2
Lot
2.43 ac
Current owner
From public records · entity-resolved
Hornstra Farm Norwell LLC
Entity
Mailing address
3 LAZELL ST, HINGHAM, MA 02043-4401
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2023
—
Hornstra Farm Norwell LLC
—
Deed
related
$1,500,000 · Farm Credit
Jun 4, 2009
$1,327,500
Hornstra Farm Norwell LLC
Spillane,david M
Grant Deed
$1,500,000 · First Pioneer Farm Credit Aca
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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