Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Office buildings
247 Newbury St Danvers, MA 01923-1001
Entity Owned
~
Est. High Equity
Property ID
US38-0790734
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
FRAME
Total area
3,510 SF
Lot
0.06 ac (2,810 SF)
Zoning code
HC
APN
DANV M:024 L:017 P:
UPID
US38-0790734
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
-
Circle Insurance Agency, Inc. Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.37M
Owner & transaction history
241 Newbury St LLC
241 Newbury St LLC
since 2026
7 recorded transactions
Zoning & alternative use
HC · Danvers, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
-IA District TABLE 3 - TABLE OF DIMENSIONAL REQUIREMENTS - COMMERCIAL & INDUSTRIAL - (* see section 7.3 for Supplemental Provisions) approved by Town Meeting on Janaury 29, 2007 PARKING SETBACKS from HIGHWAY CORRIDOR (HC) 100 = Res. Use 50 = R-IA District 25 = all other 100 = Res. Use 50 = R-IA District 25 = all other NA 50= res. Property 20 = R-IA District…
Zone name
Highway Corridor
General category
UNKNOWN
Zone area
283.80 ac
Source
Danvers Zoning Bylaws 2025
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 Danvers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danvers 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%
$1,740,000
6.5%
$1,605,000
7%
$1,490,000
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±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
$390 / 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
$12,071
Tax year 2024
Assessed value
$649,000
Assessed 2024
Previous assessed
$649,000
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$300,700
Assessed improvement
$348,300
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
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
4
Total area
3,510 SF
Lot
0.06 ac (2,810 SF)
Zoning code
HC
APN
DANV M:024 L:017 P:
UPID
US38-0790734
Jurisdiction
DANVERS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
HC · Danvers, MAZoning HC · permitted uses
HC · Danvers, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
-IA District TABLE 3 - TABLE OF DIMENSIONAL REQUIREMENTS - COMMERCIAL & INDUSTRIAL - (* see section 7.3 for Supplemental Provisions) approved by Town Meeting on Janaury 29, 2007 PARKING SETBACKS from HIGHWAY CORRIDOR (HC) 100 = Res. Use 50 = R-IA District 25 = all other 100 = Res. Use 50 = R-IA District 25 = all other NA 50= res. Property 20 = R-IA District COMMERCIAL IA (C-IA) COMMERCIAL III (C-III
Zone name
Highway Corridor
General category
UNKNOWN
Zone area
283.80 ac
Source
Danvers Zoning Bylaws 2025
Building & site characteristics
From public records
Year built
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
4
Lot
0.06 ac
Current owner
From public records · entity-resolved
241 Newbury St LLC
Entity
Mailing address
247 NEWBURY ST, DANVERS, MA 01923-1001
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2026
$1,075,000
241 Newbury St LLC
Holbrook
Quitclaim Deed
—
Jan 16, 2008
—
A RT
—
Deed Of Trust
related
$335,000 · Sovereign Bank
Jan 16, 2008
$1
A RT
Circle Ins Agency INC
Grant Deed
related
—
Aug 24, 2004
—
Circle Ins Agency INC
—
Deed Of Trust
related
$1,128,900 · Gary Needham
Jan 17, 2002
—
Circle Insurance Agcy
—
Deed Of Trust
related
$176,000 · Lawrence Savings Bank
Aug 25, 2000
—
Circle Insur Agency
—
Deed Of Trust
related
$221,250 · Lawrence Savings Bank
Aug 16, 1996
—
Circle Insurance Agcy
—
Deed Of Trust
related
$158,200 · Susan F Collins
Apr 29, 1996
$174,500
Circle Insurance Co
Mri A Corp
Grant Deed
$140,000 · Lawrence Savings Bank
Feb 1, 1996
$95,000
Mri A Corp
Financial Partners LP
Grant Deed
—
Jul 24, 1991
—
Circle Ins Agcy INC
—
Deed Of Trust
related
$70,000 · Shore Bank & Trust
—
—
A & C Realty Trust 2
—
Deed Of Trust
related
$256,975 · Everett Co-op Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 247 Newbury St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
